【新唐人2014年02月03日訊】一支由中國最大的國有商業銀行——「工商銀行」代理髮行的巨額理財產品，發生了瀕臨違約的危機。因為融資企業的崩潰，投資者被告知可能無法按期拿回資金，而「工商銀行」和地方政府部門卻表示，不對投資者損失負責。雖然目前解決方案已出爐，但投資者只能拿回本金。業內人士預測，涉及影子銀行的信託和理財產品的兌付危機、和違約現象，將大規模發生。
近年來，大陸信託資產規模，從幾千億元突破到10萬億元大關，但風險事件卻時有發生，尤其是今年以來，信託理財產品出現的兌付危機，已經開始令投資者們恐慌。
據報導，大陸一家影子銀行——中誠信託，從2010年開始，通過「中國工商銀行」分行，以每年約10%的收益，將價值30億人民幣的投資信託理財產品，出售給大約700個銀行高端客戶，用來向負債纍纍的煤礦公司「山西振富能源集團」提供貸款。在銀行副董事長因「 非法吸收公眾存款」被逮捕後，這個煤礦公司也在2012年崩潰。
「中誠信託」警告投資者，融資公司可能無法在1月31號投資到期時，償還客戶的資金。至於投資者甚麼時候能拿回資金，卻只字未提。
而「中國工商銀行」董事長姜建清1月23號表示：「工商銀行」出售的基金產品，出現相關損失，銀行不會提供投資者任何賠償。姜建清還說，這種事件給投資者他們提供了一個教訓，在未來，當他們投資理財產品的時候，他們必須看清風險。
大陸金融分析師任中道：「銀行在裡面進行銷售的時候，它肯定做一個渲染，說融資方怎麼樣的實力潛能，甚麼樣的雄厚。因為投資者不可能實地去考察，拿出融資方的財務報表等等來仔細看，一是沒有專業的能力，二呢也是沒有太多的興趣。出於對國有銀行的信任，聽信了工商銀行的宣傳，所以投資者拿錢去買這個產品。它賣的時候說的天花亂墜，結果出現危機就說風險自擔。它在這個過程中起到了一個推波助瀾的作用。」
面對各方的推諉，投資者們發出了憤怒的抗議。
投資者向媒體說，「中國工商銀行」和「中誠信託」挖了一個坑，用草簾子蓋上，然後讓他們往裡面跳。而現在看起來，他們的錢不是用於任何公司的實際運營。它純粹是欺詐，拿他們的錢來填補一個巨大的金融空洞。
任中道：「應該首先做的就是資產評估和風險的調研調查，本身融資方在之前就已經欠下高額的高利貸，它們不可能不知道， 而且這種信息非常的容易查詢到的，可是中誠信託還有工商銀行仍然發行了這樣一個巨額礦產類信託，因此不難推斷出，中誠信託公司和工商銀行為了自身利益，仍然置風險與不顧，把風險轉嫁給了投資者。」
在市場的強烈關注下，1月27號，「中誠信託」的解決方案終於出爐，投資者將面臨兩種選擇，一是立刻在協議書上簽字獲得本金兌付，但無法拿到最後一期約7%的利息﹔二是繼續持有，可能會獲得預期的全部本息收入，但也有可能拿不到本金。
雖然「中誠信託」聲稱，是一名身份不詳的投資者向融資公司注入了一筆資金，挽回了這場瀕臨違約的兌付危機。但分析師指出，這一看似救助的做法，可能給市場傳達一個錯誤信號，就是：高風險的理財和信託產品還可以安然無恙的逍遙下去，將鼓勵投資者繼續投下更高風險的賭注，這可能最終破壞整個金融體系。
任中道：「因為影子銀行主要有兩塊，一塊是信託，另一塊是理財產品，這兩大塊總額都超過20萬億，其中各方面關聯都很密切，比如正規銀行金融機構，還有地方債，還有房地產行業，它們互相都糾纏在一起，現在整個中國的經濟不是單一層面的危機，一旦有一個風險引爆點，它將會發生整個層面，整體的金融危機的發生，現在已經迫在眉睫了。」
很多業界人士擔憂，「中誠信託」案件可能是中國影子銀行領域許多「潛在違約」的第一起，因為今年將有大約5萬億元的信託產品到期，而這代表著﹕更多的違約，即將到來﹗
採訪編輯/張天宇 後製/李智遠
Large Scale Defaults Will Explode with China’s Financial Products
Facing High Risks
Industrial & Commercial Bank of China (ICBC),
the biggest state-run business bank,
issued a huge amount of financial products on behalf shadow banks.
However, those financial products issued by ICBC
came very close to default. Due to the counterparties’ bankruptcy,
investors were told that they might not be able to receive
their money upon maturity date.
Nonetheless, ICBC and local governments claimed
that they weren’t going to be responsible for the risks.
Even if options were made to the investors to address the problems,
the investors can only get their principal back
but lose the coupon payment.
Financial professionals predicted that a large scale of default events
is going to take place regarding the redemption of shadow banks’
trust funding products and other financial products.
In recent years, the volume of financial trust products reached
10,000 billion Chinese Yuan. Nonetheless, risks of default
for this type of financial product takes place occasionally.
Especially, the default risks have caused panics among investors
this year.
As reported, China Credit Trust Co., a shadow bank,
has sold 3 billion Chinese Yuan of financial trust products to
700 high-end customers with 10% interest, through ICBC
since 2010. The loan was made to the heavily indebted
mining company, “Shanxi Zhenfu Energy Group”.
After the Bank’s Associate Chairman of the Board got arrested
for illegal money gathering, the mining company also collapsed
in 2012.
“China Credit Trust Co.” warned its investors that their investment
might not be paid off by January 31, the maturity date.
It didn’t even mention anything about when the investors
can get their money back.
On January 23, Jiang Jianqing, President of ICBC claimed that
if any default takes place, ICBC is not going to compensate for it.
Jian Jianqing also said: “Financial default events are teaching
investors a good lesson so that they will better evaluate the risks
associated with their investment."
Ren Zhongdao, financial analyst in China:”When banks are selling
their products, they reinforce how financially strong
the counterparties are. There is no way that investors can get
counterparties’ financial reports and investigate the corresponding
financial strength themselves. First of all, investors
lack relevant professional knowledge;
second they might not be interested.
Based on their trust in a national bank,
they listened to the ICBC’s propaganda and bought their products.
When the bank was selling the products,
they could talk people’s head off. But when defaults take place,
the bank just has the investors assume the risks.
The bank is actually adding fuel to the fire.”
After being brushed off with all kinds of excuses,
the investors protested indignantly.
The investors said to media that China Credit Trust Co.
and ICBC dug a pit and covered the pit with some grass,
and they tempted investors to jump into it.
From the investors’ point of view,
their money was not used in the operation of any companies.
It’s sheer fraud. Their money has been employed
to fill up a huge financial hole.
Ren Zhongdao: “The bank must have done an evaluation
of financial strength and risk of default on the counterparties.
If the counterparties were already heavily indebted,
they definitely knew it. This type of counterparties’ information
can be easily obtained. Nevertheless, China Credit Trust Co. and
ICBC still issued such a huge amount of mining industry trust fund.
It’s not difficult to deduce that China Credit Trust Co. and ICBC
did all of these for their own benefit.
They totally transferred the risks to their investors.”
Under intense attention, China Credit Trust Co. came up with
a problem-solving plan. They offered the investors two options:
one option is that investors sign a paper to
only get their principal back but not the last coupon payment,
about 7% of principal. Another one is that the investors
could get both principal and coupons, but the risk is that
they might even lose the principal.
China Credit Trust Co. declared that an unidentified investor
invested a sum of money and it relieved the default risk
that might take place. However, financial analysts state that
this type of risk relief methodology can send a wrong signal to the market.
That is, high-risk investment and trust funding products can survive
safe and sound. Investors would be encouraged to invest more money
in high-risk products.
Eventually, the whole financial system will be destroyed.
Ren Zhongdao: “Shadow banks’ business focuses on two areas:
trust funding products and financial products.
There are more than 20,000 billion Chinese Yuan in both business areas.
The relationship among different financial products is
complicatedly entangled.
The crisis that China’s economy is facing is not single-sided,
but one risk explosive point can bring down the whole financial system.
Now the situation is already very urgent.”
Many financial professionals worry that China Credit Trust Co
might not be the only one shadow bank with potential default risk.
This year, about half billion Chinese Yuan of trust funding products
are going to mature. It means more defaults are coming.
Interview & Edit/Zhang Tianyu Post-Production/Li Zhiyuan