【新唐人2014年02月03日讯】一支由中国最大的国有商业银行——“工商银行”代理发行的巨额理财产品，发生了濒临违约的危机。因为融资企业的崩溃，投资者被告知可能无法按期拿回资金，而“工商银行”和地方政府部门却表示，不对投资者损失负责。虽然目前解决方案已出炉，但投资者只能拿回本金。业内人士预测，涉及影子银行的信托和理财产品的兑付危机、和违约现象，将大规模发生。
近年来，大陆信托资产规模，从几千亿元突破到10万亿元大关，但风险事件却时有发生，尤其是今年以来，信托理财产品出现的兑付危机，已经开始令投资者们恐慌。
据报导，大陆一家影子银行——中诚信托，从2010年开始，通过“中国工商银行”分行，以每年约10%的收益，将价值30亿人民币的投资信托理财产品，出售给大约700个银行高端客户，用来向负债累累的煤矿公司“山西振富能源集团”提供贷款。在银行副董事长因“ 非法吸收公众存款”被逮捕后，这个煤矿公司也在2012年崩溃。
“中诚信托”警告投资者，融资公司可能无法在1月31号投资到期时，偿还客户的资金。至于投资者什么时候能拿回资金，却只字未提。
而“中国工商银行”董事长姜建清1月23号表示：“工商银行”出售的基金产品，出现相关损失，银行不会提供投资者任何赔偿。姜建清还说，这种事件给投资者他们提供了一个教训，在未来，当他们投资理财产品的时候，他们必须看清风险。
大陆金融分析师任中道：“银行在里面进行销售的时候，它肯定做一个渲染，说融资方怎么样的实力潜能，什么样的雄厚。因为投资者不可能实地去考察，拿出融资方的财务报表等等来仔细看，一是没有专业的能力，二呢也是没有太多的兴趣。出于对国有银行的信任，听信了工商银行的宣传，所以投资者拿钱去买这个产品。它卖的时候说的天花乱坠，结果出现危机就说风险自担。它在这个过程中起到了一个推波助澜的作用。”
面对各方的推诿，投资者们发出了愤怒的抗议。
投资者向媒体说，“中国工商银行”和“中诚信托”挖了一个坑，用草帘子盖上，然后让他们往里面跳。而现在看起来，他们的钱不是用于任何公司的实际运营。它纯粹是欺诈，拿他们的钱来填补一个巨大的金融空洞。
任中道：“应该首先做的就是资产评估和风险的调研调查，本身融资方在之前就已经欠下高额的高利贷，它们不可能不知道， 而且这种信息非常的容易查询到的，可是中诚信托还有工商银行仍然发行了这样一个巨额矿产类信托，因此不难推断出，中诚信托公司和工商银行为了自身利益，仍然置风险与不顾，把风险转嫁给了投资者。”
在市场的强烈关注下，1月27号，“中诚信托”的解决方案终于出炉，投资者将面临两种选择，一是立刻在协议书上签字获得本金兑付，但无法拿到最后一期约7%的利息﹔二是继续持有，可能会获得预期的全部本息收入，但也有可能拿不到本金。
虽然“中诚信托”声称，是一名身份不详的投资者向融资公司注入了一笔资金，挽回了这场濒临违约的兑付危机。但分析师指出，这一看似救助的做法，可能给市场传达一个错误信号，就是：高风险的理财和信托产品还可以安然无恙的逍遥下去，将鼓励投资者继续投下更高风险的赌注，这可能最终破坏整个金融体系。
任中道：“因为影子银行主要有两块，一块是信托，另一块是理财产品，这两大块总额都超过20万亿，其中各方面关联都很密切，比如正规银行金融机构，还有地方债，还有房地产行业，它们互相都纠缠在一起，现在整个中国的经济不是单一层面的危机，一旦有一个风险引爆点，它将会发生整个层面，整体的金融危机的发生，现在已经迫在眉睫了。”
很多业界人士担忧，“中诚信托”案件可能是中国影子银行领域许多“潜在违约”的第一起，因为今年将有大约5万亿元的信托产品到期，而这代表着﹕更多的违约，即将到来﹗
采访编辑/张天宇 后制/李智远
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
