As a typical example of private liquidity, wenzhou capital ended its heyday in 2009: overseas investment, Russia, dubai and Romania; Domestic investment, the coal mining bosses dream of shanxi, a more impressive fact - a national coal mine reorganization is about to begin.

As of December 28, 2009, the balance of foreign and foreign currency deposits in wenzhou's financial institutions was 517.276 billion yuan, an increase of 91.015 billion yuan from the beginning of the year, according to data from the wenzhou banking regulatory bureau. At the end of April 2008, the balance of savings deposits was only 185.09 billion yuan. In comparison, more than 330 billion funds have chosen to move from flowing to dormant.

Overseas funds are withdrawn, the real economy is shrinking, private lending rates are falling, the outlook for the housing market is not clear, and a lot of funds are dormant. Is wenzhou capital really "a stray"? Others are keen to guess where they are going. To make a venture? From the underground bank to the sun microcredit company, the village bank? Or, just like the rumors outside, pull a pull rod box of cash, go to hainan to fry a house, go to dubai to copy bottom?

In any case, first of all, listen to the wenzhou people themselves. Last week, reporters went to wenzhou to talk with their bosses, or they were big or small. They also met with officials and the President of wenzhou small and medium enterprises development and promotion association to understand the latest development of wenzhou capital.

Our reporter zhong huili is from wenzhou.

A: to buy tsinghua tongfang's company for hundreds of millions of yuan.

On the morning of January 24, 2010, it was raining heavily, and the reporter visited the most established industrial zone of wenzhou, lucheng industrial zone. The enterprises in the park mainly used traditional industries such as leather shoes and glasses. It is close to the city of wenzhou, with more than 3 million acres of land. At the beginning of 2008, the rent was 25 yuan per square meter per month, and by early 2009, "it was 12 or 3 yuan, and it hasn't gone up yet," said one local boss.

According to the data of the department of foreign trade and economic cooperation in wenzhou, wenzhou's foreign trade exports decreased by 11.2% year-on-year in january-september 2009.

In lucheng industrial zone, reporters interviewed yu youyi, chairman of kaide technology group, which recently entered the technology field.

Yu youyi, who drives a porsche cayenne to work every day at 8:30am. After more than 20 years, he became the "invisible champion" in the field, with a domestic market share of about 50%.

Recently he often appears on the flight from Beijing and wenzhou, in June 2009, he spent hundreds of millions of yuan to buy a reason of tsinghua tongfang and Toshiba cooperation financial machinery company, opened up to a new field in their 50 s.

Reporter: yu zong, you do not fry a house, do not fry, basically focus on main industry 20 years. Why would you want to buy a company in an unfamiliar field?

Yu youyi: I have been thinking about transformation. My former competitors, from Taiwan to the mainland, cut costs and compete with me. And we moved the original industry to huzhou because the costs were too high in wenzhou.

There are many indications that our original strength is gradually losing.

The world is different from the beginning of our business, and many traditional industries in wenzhou will be phased out or forced to relocate for various reasons. In the field of "trademark weaving", there is no significant breakthrough in the global market share.

Reporter: how can you think of entering the financial machine area?

Yu: more than 3 years ago, I was trying to work with a friend of a company that produced money counting machines, and I found that the prospect of this field was very promising. For example, metersbonwe expanded its stores in 2009, and one order required more than 3,000 counting machines.

And acquisition of companies in Beijing, a few months before the original was established tsinghua tongfang and Toshiba cooperation, produce medium "sorting" for the bank, and research paper "in and out of one module", the core parts are imported.

A medium-sized "clear extension" will sell for more than 100,000 yuan. The country's financial standards are likely to come out in May, when hundreds of thousands of older models will need to be phased out.

Background: since the third quarter of 2009, 64 percent of the 122 key industrial enterprises in wenzhou have increased their investment in technology research and development, with a certain percentage or significant improvement over the same period last year. But many of those "non-backbone" industrial companies do not have the strength to invest or reinvent themselves. According to local people in wenzhou, the capital that has been spun off from small industrial enterprises makes up the most famous "capital" of wenzhou, which has been killed in the stock market and property market.

Province in 2010 during the two sessions, delegates, wenzhou small and medium-sized enterprise development association for the advancement of zhou dewen, going to plan an activity: take a bunch of entrepreneurs to the gem listed companies silver jiang electronic visit. "Wenzhou bosses are very eager to contact and learn about science and technology projects," he said.

B: a "post-70" property investment impulse.

"Buy real estate for a year" -- it is said that people who bought a house in downtown wenzhou earned an average return of about 50 percent in 2009.

Wenzhou's rich private capital has not only pushed up local prices, but also made inroads in the Midwest, hainan and even dubai. Few wenzhou people are not tempted by property, they buy houses, buy houses, or simply develop real estate.

In the latest entry into the housing industry, the reporter interviewed 70 post entrepreneur zhao tuqiang.

Zhao tuqiang, a brain melon seed is very flexible, also very thoughtful 70 post entrepreneur. He cut into the solder part of the electronics industry and was the first solder material manufacturer. About 70 percent of the solder materials purchased from leading electronics companies such as zhengtai, delixi, tianzheng and people's electronics came from his "strength".

In order to overcome the technical bottleneck, the young man used to drive his Mercedes to the airport to pick up the foreigners at the airport for a while. Those were the "Sunday engineers" who were secretly invited to the airport. Their company is the story of "foreigners making fast money."

Mr. Zhao worked with six other entrepreneurs in the previous months to set up an investment company to start real estate.

Reporter: zhao zong, why do you want to try real estate?

Zhao tuqiang: in wenzhou, such temptation is too much! In my circle of friends, almost every day someone says to do real estate. I also want to invest in new areas.

Reporter: have you ever had a lot of experience buying a house?

Zhao tuqiang: you say "fry a house"? I don't. To do this is to develop your own property.

We hung up on a company with a real estate development qualification, and we got seven people to do it, and we got a piece of land in the wenzhou area.

Reporter: will this spread the main business?

Zhao tuqiang: no, I'm only paying for it. Most of my friends will do it.

Now that the country has introduced a number of policies such as raising the reserve requirement ratio, many experts are saying that this year will be a "small dip". But I don't think the fundamentals are going to change in the short term, and we're investing in wenzhou, where the money is there and there's no shortage of money.

Background: the housing market is the first place to go to wenzhou's private capital in 2009, and it will be the place where hot money will continue to pay attention in 2010. At present, sanya "phoenix island project" in hainan attracts a lot of wenzhou capital, which is said to be worth tens of billions of yuan.

According to a questionnaire survey conducted by wenzhou central branch of the people's bank of China in early December 2009, 60% of real estate enterprises believe that 10% to 30% of buyers are motivated by investment or speculation. Four out of ten think the number is more than a third, or even half.

This enthusiasm has directly driven up local property prices in wenzhou. Take shui on, a county town in the southeast of zhejiang province, as an example. The property in the center of the city soared to more than 20, 000 in 2009, directly following Beijing, Shanghai, hangzhou and other big cities.

The capital is lost.

The government is supposed to

Zhou dewen, President of wenzhou small and medium enterprise development association.

The relevant institutions calculate that the private capital of zhejiang is as high as 8000~1 trillion yuan, and wenzhou alone has about 600 billion yuan.

The nature of capital profit and flow, and zhejiang people strong investment consciousness, over the years, particularly eye-catching zhejiang private capital investment in all parts of the country - in wenzhou columns: in 2001, wenzhou people groups begin to enter Shanghai, hangzhou, wenzhou people this year spend $2000 on the real estate market; In 2002, China's energy shortage and coal prices soared, and wenzhou's private capital flowed to shanxi, buying 60% of shanxi's coal mines. In 2002, cotton production fell, cotton prices rose, and wenzhou 3 billion private capital entered xinjiang to buy cotton. In 2006, commodity futures bull market, wenzhou a lot of private investment in nonferrous metals; In 2007, the price of oil went up, and 5 billion wenzhou people went into western oil Wells. Now hainan sanya "phoenix island project" attracted a large number of zheshang capital, involving tens of billions of yuan.

However, the private capital has the blindness and great risks. Last year, the "grey customs clearance" incident in Russia caused a loss of 8 billion yuan in wenzhou's civilian capital. Recently, wenzhou's private capital has been set up in the dubai property market with more than 5 billion yuan, losing about 10 billion yuan. Shanxi coal resources integration, investment in shanxi coal mine 50 billion yuan wenzhou civilian capital face loss nearly half. As the capital of zheshang capital has suffered a series of setbacks, it is in a period of hesitation and is looking for the next target, which needs the guidance of the government.

I think there are some key points that the government is right to guide.

First of all, to produce institutionalization and standardization of the folk capital management way, the private investment in the lead up to the industry of the state shall encourage and support, at the legal level of private capital legal subject status is confirmed.

Secondly, it is recommended that the relevant government departments worked out as soon as possible "to encourage private investment in zhejiang province industry guidance catalogue, announced a clear time limit access to private capital standards and access, ease restrictions on private capital equity ratio, moderate allowed private capital to participate in key industry project construction, such as railway, subway, Bridges, highways, oil, rivers, etc.

In addition, you can build the venture investment fund, small and medium enterprise development fund, such as platform, to guide the folk capital to better support the development of small and medium-sized enterprises, the formation of industrial development and benign cycle of private capital. We will improve the soft environment for investment, list some good projects to attract foreign investment in zhejiang, and further eliminate the barriers to entry for investment in high-tech and environmental protection industries, and provide policy support.