Wenzhou to publish 'interest rate index for private financing'

Eight months after the approval of Weizhou Comprehensive Financing Reform Pilot Area, the Implementation Scheme of Weizhou Comprehensive Financing Reform Pilot Area was officially published.

When interpreting the scheme, Zhang Zhenyu, director of Financing Office of Wenzhou government, mentioned that Wenzhou will release "Wenzhou Index" by the end of the month or in early December.

Zhang Zhenyu introduced that "Wenzhou Index" refers to the comprehensive interest rate index for non-governmental financings, which is produced from anonymous ratings of relevant departments for Wenzhou's small loan companies, financing guarantee companies, pawn financing interest rate and non-governmental borrowing rate.

Zhang Zhenyu said the first batch of data would be published by the end of this month or in early December, and provisionally released once a week.

"This effort aims to release non-governmental financing dynamics, and give early warning to non-governmental deals," said Zhang Zhenyu.

Recently, the draft of Wenzhou Non-governmental Financing Regulations has been completed. An insider who took part in formulating the draft disclosed that the draft may marketize the interest rate of non-governmental loans in three months.

Read the Chinese version: 温州将每周发布“民间融资利率指数” ;

Source: chinanews.com; Author: Zhao Xiaoyan&