That good faith users. "Zuo Venerable years": "the Neo: 'Qijun to servants, will be able to credit the people carry on, Yong can almost?'"
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No. 3
That trust and who was retained. Han Yu Tang "along four cases of Record": "I Expostulation also can not make the emperor to kill the innocent, while the credit traitor." Tien-Hua Chen a "big shot back": "Rong Lu, there are those eunuchs Lianying, the Queen Mother the most credit, he most a good friend of. "
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No. 4
Trust and use. "Three Kingdoms Wei Zhi Dong Chuan" "learned to explore the grave, taking treasures" s Annotations primers Jin Phrase "added Han": "" stone-shell room Chen ", Yao Xie book, how can the credit?" "Twenty years have witnessed The strange situation, "the fifth five back:" It just Xun Oriental bullfinch House is the most credit of western medicine. "
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No. 5
Agreement with the person to be able to carry things and get confidence. Lu Xun's "Letters To Li Jiye": "I heard Weiming credit, not bad in Shanghai." Cao Yu "Sunrise," the fourth screen: "We are many years out of doing things, I think, big and small, people should say the lowest point of the credit. "Sha Ting" substitute ":" fear of bad credit, no one to be accommodated in the future. "
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No. 6
Not required to provide materials to ensure no immediate cash payment, but carried out with confidence. Such as: credit; credit transaction.
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No. 7
① honest, to comply with promises made by the trust: trustworthy. ② currency lending and commodity trading in general term for deferred payment or delivery. To repay the value of sports for the conditions of the special form. Include: (1) bank credit, money in bank lending activities for the party; (2) commercial credit, based on commodity trading in either a deferred payment or delayed delivery of short-term credit activities; (3) national credit, is one of the lending countries (such as issuing bonds); (4) consumer credit, is the individual consumer credit (such as hire purchase). ③ trust re: whether the credit genius is an important part of enterprise development.
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Credit explanation
[Words]: Credit (credit) [Phonetic]: xìn / shēn yòng Credit is a positive credit and credibility for a long time. Credit is rare volatile. Fee decades of effort to accumulate credit, often due to a moment regarding the words and deeds be lost. Faithful and the line made by the right way, will be for the people of the world are convinced. Have credit, people have believed the letter yourself. Everyone has the faith to make an independent self-esteem themselves and others can be achieved. Do what it preaches, if you have credit. In the "new economy Pag Leif Dictionary", the credit explanation is: "to provide credit (credit) means putting on something (like a sum of money) is given so that the degree of property rights, in exchange for a future in a particular Ownership time for additional items (such as another part of the money) is. " "Oxford Dictionary of Law," the explanation is: "credit (credit), refers to the provision of goods or services to get or not immediately but promised to pay compensation practices in the future." "Money and Banking" credit explanation is:. "Credit lending practices in this area is the economic behavior of this feature is to recover his pay conditions, or in order to obtain restitution obligations; reason why lending and credit, is entitled to interest because the latter was possible to borrow, because the assumed obligations to pay interest. " Historical development of mankind today, "credit" is the word that already contains extremely rich connotations. It is probably one of the most complex of human knowledge, the most elusive concept, "Some things exist only in the minds of people, in all these things, no one is more bizarre than the credit which is more subtle; credit has never been compulsion, but voluntarily, depends on the expectations and worry that some of the feelings; credit often do not appear to fight on his own, they always disappear for no reason; and credit once lost, it is difficult to fully recover ...... credit is very similar, And on many occasions like is that people rely on to manage the national bravery and commanding intelligence and battlefield earned reputation and fame. politicians and eminent competent and excellent captain, because of some unfortunate accident, momentary mistake or luck soiled reputation of poor, lost love everyone, but as long as he has a remarkable talent, real ability, reputation will be restored sooner or later. Similarly, although it will temporarily eclipsed credit, struggling in trouble, but as long as it has a reliable and solid foundation, to some extent can be restored. "credit for understanding the true meaning, benevolent see benevolence and the wise see wisdom, can be explored from different angles, in the usual sense, we can at least from the perspective of four to understand the "credit." From the ethical perspective: credit mainly refers to the parties to participate in social and economic activities are established, and honesty as a moral foundation, "Truly" behavior. From a legal perspective: "Civil Law" provides that "Civil activities shall comply with the voluntary, fair and equal compensation, the principle of honesty and trustworthiness"; "Contract Law" requires "the parties are honest to others bully, seeking credit, to keep his promise , and in the contents of the contract, the meaning and application aspects should be based on the principle of good faith to explain the contract "when the dispute. From an economic perspective: Credit refers to the exchange of goods or other economic activity in credit in full trust fiduciary able to achieve on the basis of their commitment to lend a fiduciary relationship with the contract, and to protect their principal value can reflow and The value of the exercise. First, from an ethical point of view From an ethical point of view to understand the "credit", it actually means "keep its promises" a moral quality. People in everyday life speak of "integrity" and "credible", "disloyal", "good as gold", "promised to do certain things," "Junziyiyan, Sima difficult to recover," reflecting the fact that this level of meaning. From this perspective the credit, it a country, a nation is crucial, because a society is only disloyal to be able to form a good society, "the trust structure" (trust structure), and this structure is a trust important foundation for normal social functioning. People will find "mutual trust with obedience, love, friendship and conversation, is the people of a country, and to maintain contact with an indispensable condition," Simmel also pointed out: "There is no universal among people enjoy mutual trust, society itself will collapse. ...... modern life is built on the basis of trust in the honesty of others on the importance of this point is usually much greater than people want to recognize the extent. "No one can say that society does not emphasize the Testimonials ethical and moral dimension of trustworthiness in our country, advocating traditional fashion credit for thousands of years, "Analects", "trust" appears 38 times, though lower than the frequency of benevolence (109), Eli (74) ; But most ethical terms described above, such as good (36 times), Yi (24), King (21), Yong (16 times), shame (16). For example: "Since ancient times, has died, people without faith without legislation"; "Dade is not official, no road, a large letter is not about"; "true to its word, line must be fruit", "and people pay, beyond belief "etc.. In Western society, the word is also pursuing a moral people spindle, the "Bible" on credit terms, there have been dozens of trust as much. From the point of view of business ethics perspective of enterprise credit implications, Di Qiaozhi. Provides a unique insight: he thinks integrity (integrity) behavior consistent behavior refers both to conduct itself with the highest accepted norms, but also refers to the normative ethical requirements added to their behavior. He pointed out that the integrity of the behavior is the biggest characteristic: Ethics is "self-imposed and voluntary acceptance", so on this subject "non-moral myth" of the enterprise, "to emphasize the business and its top management and self-discipline." More importantly, he limited the scope of the act in good faith, at least to the ethics "beyond reproach, while positive values" for the lowest moral bottom line, that companies' behavior itself to accept the highest specification "at least low At the bottom line. Second, from an economic point of view From the economic point of view to understand the "credit", it actually refers to the relationship between "borrowing" and "loan" of. Credit actually means "to obtain a sum of money within a limited period of time expected." You borrow money, Shipment (credit), in fact, you get the equivalent of each other for a "period of credit," you have been able to get the other side of this "limited duration of credit" mostly because you trust each other, and sometimes it may be because of strategic considerations and other factors last resort. From an economic point of view has a rich understanding of the level of credit, at least from the state, banks, enterprises and individuals to understand several levels. National Credit contain at least two meanings of this, the first lending relationship between the State and the State, the so-called sovereign debt, such as the famous Brady bonds, the United States in the 1980s lending to Latin American countries, Asia and the country low-interest loans in some countries and regions in Africa, Japan Overseas Cooperation Fund loans, World Bank loans. Second, the performance between the national government and the country's corporate lending relationships with the residents, the government issued bonds, purchased by businesses and residents, which is actually the government 先向 businesses and residents to borrow money, then invest in maturity When subordinated to principal and interest. Get credit between banks and enterprises, and individuals is mutual. From businesses and individuals to obtain bank credit, it is to show businesses and individuals to borrow money, which is the foundation of their survival. Meanwhile, businesses and individuals need to obtain credit from banks, companies can use it to meet their urgent needs, or investment expansion, etc.; individuals can use it to meet emergency needs, improve the quality of life. Business and enterprise, credit between individuals, mainly reflected in two aspects, one commercial credit (also known as trade credit, that trade credit), or you can call it b-b's credit, it mainly refers to the business to business Non-cash transactions between credit is often said that we should not simply be seen as some of the credit target only tangible goods, such as automotive parts suppliers batch of parts; it can actually be a projects, such as construction company completed the construction of a building, for projects not yet fully recovered, then the construction company credit out of this building is not only in the construction of the pre-pad funds, materials, as well as in the building process labor; even be some intangible services, intellectual products, such as management consulting firm providing advisory services and so on. Second, credit companies and individuals, can also be called b-c credit, this form of credit in our daily lives is very common, such as our mobile phones are often a consumer credit consumption, we always pay the last month's expenses this month, China Mobile calls can even allow you owed two months. Third, from a legal perspective From the perspective of understanding of the law, "credit", it actually has two meanings, one refers to a relationship between the parties, provided that the rights and obligations of both parties "contract" is not required at the time of delivery, the time lag, there is credit; second meaning refers to the rights of the parties in accordance with the "contract" provides enjoyment and shoulder obligations. At this level there are two points to understand the credit needs attention. First, the "contract", we can put this contract as a narrow economic contracts, contracts for the supply of two small enterprises, large number between the two countries billions of dollars in debt; also as a broad social contract, such as a contractual relationship between you and your parents, your parents have a duty to raise your adult, you also have the obligation to support your parents. The second is the "contract" Another very important feature, which is a necessary condition constitutes a legal credit, it is non-real-time delivery. If the realization of the rights and obligations are carried out simultaneously, then it will not constitute a credit, there must be a certain time lag between the two credit will appear. Fourth, from a monetary point of view In the eyes of credit creation school, credit is money, money is the credit; credit money creation; credit capital formation. There is an important genre in the monetary and financial science, namely John in the 18th century. Lo is a pioneer in the 19th century, Michael Rood, South Korea and Schumpeter and other representatives of the people of the 20th century "credit creation of school." In the eyes of the school, the credit is money, money is credit. • John Rau said: "Credit is necessary and useful to increase the credit amount increases with the amount of money has the same effect, that they are also able to produce wealth, prosperity commercial." Conducted by bank credit creation, can much more than a decade engaged in trade increased the amount of money within a year. So, France For rich, really need to resort to credit; otherwise, other than the powers in the use of credit, the French will soon fall into the situation of poor and weak. "" As long as money is rich, that is able to create the prosperity of a country; as long as credit facilities (he mainly refers to banks, etc.), which can supply a wealth of money to the economy to the initial impact; rely on such shocks, the French will be able to output wealth. "The basic logic of John • Labour is this: Money is wealth - money does not have to be gold and silver, and land, bonds, stocks, etc. to ensure that the issue of paper money is the best - the bill is a credit bank - By supplying this bank credit, can provide a wealth of money - in the initial impact on the economy - relies on such an impact, you can make the country strong, prosperous economy; short, the credit that currency; currency is wealth, namely capital. Mike Rood in his "Theory of credit," pointed out: "People in the production of materials and labor and human exchange, and in exchange for money, this money can be used both to feed their families, can not be used to cover themselves, but people are willing to use Its production materials and services in exchange for money, which is why? because later in exchange for money, when you need it, the virtue required in return for the sake of the matter, so is the nature of money, but others require the production of materials and services right or symbol, which is a real credit "," therefore, monetary gold and silver metal can be rightly called the credit. "Mike Rood that the essence of both credit and currency is consistent, is the creation of credit money increases, the two can be unified in under the concept of "currency", and differ only in degree: (1) credit is only a single value, but there are most of the value of money or general value of credit just one person of a claim, but the money is a claim on general merchandise; (2) credit only special value undefined (because of death or insolvency of the debtor, the credit becomes worthless), while currencies have lasting value. Korea is recognized as the representative of the theory of credit creation, he published "The theory of bank credit in the economy" in 1920, a significant impact. He was such credit is the currency of discourse: "For the purposes of payment, the transfer from one person to another person to draw a check or deposit, the legal point of view, naturally just redeemed voucher money, but from an economic point of view, As long as it takes to complete the conversion of the currency of the cost function bit of money, it is not just redeemed voucher money, but money itself is real. "" money to the bank redeemed certificates, as long as it is infallible, any person willing to accept, then it is treated as a currency in circulation. "Han theory focuses on credit can clarify the formation of capital. He believes that the more credit expansion, lower interest rates, on the more productive capital goods, which are better able to form capital; On the contrary, the more credit contraction, the higher the interest rate, Jiyu less productive capital goods, and thus the capital that is not easy to form. His famous proposition is: "Capital formation is not the result of savings, but the result of credit offered." "If you say that the demand for production is primary, then the credit provided to the primacy of capital formation is also provided if there is no credit. any capital goods are not able to produce, and therefore it is impossible to capital formation. supply of credit can lead to capital formation, just as the demand caused by the production of the same. " Schumpeter pointed out: "a more useful approach might be to start from credit transactions, financial capitalism as a clearing system, which off_set_ the debts, the differences are transferred to the next stage - making the 'currency' pay to become special cases , without any special fundamental importance in other words, from the fact and analysis in terms of a monetary theory of credit may be better than one currency credit theory. " Some other well-known economists have done a similar comment sense. Mrs. Robinson once clearly pointed out: "Money is actually a credit problem." Swedish school representatives Weichsel also said: "Strictly speaking, we can conclude that all the money - including metallic money - all credit currency. This is because the value of direct force to promote the occurrence of that confidence is always flowing recipient of tools, is that he believes can take to get a certain number of goods, but the bill has only a purely local credit, and how much is in the international precious metals within the range of acceptable, but everything is just a question of degree. "
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Production and development credit
Production and development credit After the emergence of private ownership, the continuous development of the social division of labor, a large surplus products continue to emerge. Private ownership and the social division of labor allows workers occupy their different products and residual products makes it possible to exchange behavior. With the development of commodity production and exchange, commodity circulation appeared contradictory - "paid their dues, hand delivery" approach to difficulties due to objective conditions occur frequently. For example, some commodity producers when selling goods, the purchaser may be because they have not yet sold their goods and money to buy. Thus, extension of credit that is paid by way emerged. Credit means that the seller promises of future payments to the buyer's trust, and value means transferring goods on time to achieve the separation occurred. Thus, the relationship between buyers and sellers in addition to the exchange of goods, and the formation of a creditor-debtor relationship, ie credit relationships. When the credit expires, pay the purchase price, money is no longer functioning of their means of circulation and only serve as a means of payment. Such payments are unilateral transfers of value. It is because of money as means of payment functions, making the commodity can be completed independently realize the value after already assigned, thus ensuring the credit of honor. The whole process is essentially different from the transaction in the form of a physical transactions and cash transactions, namely credit transactions. Later, credit transactions beyond the scope of commodity trading. As monetary means of payment transaction process itself also joined, there have been lending activities. Since then, the relationship between currency movements and credit linked together, and thus form a new category - Finance. Modern development of the financial industry is a product of the credit relationship. In the early development of market economy, the behavior of most of the main markets in the form of deferred payment of mutual credit that commercial credit; economic times in more developed markets, with the emergence and development of modern banking, bank credit gradually replaced the commercial credit, a modern The most important economic activity in the form of credit. In short, credit transactions and credit system, with the commodity currency economy continues to develop and _set_ up; Furthermore, the establishment of a credit system to produce and promote the development of the credit transactions of commodity exchange and financial instruments; Ultimately, the market has become established modern economic development on the complex relationship between the credit credit economy.
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The basic form of credit
The following categories will be subject to the standard letter objects to illustrate the basic form of credit. 1, Public Credit Public credit, also known as government credit, refers to the ability of a country at all levels of government borrowing. Government to provide various services to the people, such as defense, education, transportation, health care and social welfare, requires huge funds to make payments. But the increase in government revenue tends to keep up with spending increases, therefore, the government appears massive annual deficits. To make up for the deficit, the government issued or sold a variety of credit instruments. These credit instruments on behalf of the holders of the Government's commitment made in the future to repay loans. This commitment to repay the debt from the public authorities, so called public credit. In the United States, the U.S. government is divided into three: the federal government (central government), state and local governments (including municipal and county government). Governments at all levels a year out of debt, in order to cope with the huge expenditure. The federal government's fiscal debt credit facility following the sale, to raise funds: for a period of one year, known as Treasury bills; period of 1 year to 10 years, called Treasury bills; period of more than 10 years, said the treasury bonds. Since the federal government has the backing of a strong economy, good credit, so after the issuance of these securities, not only Americans buy, foreigners and even foreign governments are eager to buy. Most state constitutions provide that the state government's annual budget deficit can not have to comply with the requirements of fiscal balance required by the state constitution. Nevertheless, in exceptional circumstances, the state government was often unable to cope with the budget, which also have to issue bonds to raise funds. Only because state and local governments with limited financial resources, a higher credit risk, bonds issued by the federal government bonds as easily as good as sold. 2, corporate credit Refers to a corporate business credit granted to another corporate credit, its essence is the seller's business-to-business buyer currency borrowings. It includes manufacturing enterprise credit management, credit for corporate customers in nature, that is the product of credit sales. In the process of product credit, credit grantors are usually material suppliers, manufacturers and wholesalers, and the buyer is the beneficiary of credit products, which are a variety of corporate clients or agents. In the name of the buyer to obtain their own business credit granted by the seller. Business credit is also involved in commercial banks, finance companies, credit other financial institutions trade credit business, as well as the use of current transfer payments and advance payment otherwise than arising. Banks also a business, and is specialized in the credit business. Bank credit by commercial banks or other financial institutions to grant credit businesses or individual consumers. In the process of product credit, banks and other financial institutions to provide financing support for the buyer and seller to help expand sales. Commercial banks and other financial institutions to determine the currency corporate credit is granted, the loan and repayment method is based on the level of credit to businesses. Commercial banks do not meet its corporate credit standards will require mortgage, pledge as security or guarantees made by the security company for these companies. The latter case is essentially to apply for a loan guarantee company provides credit companies, is a special form of credit. 3, the individual consumer credit Consumer credit is the trading relationship with the consumer's commitment to the future solvency of the condition of goods or services. In fact, consumer credit as a trading tool market economy has a long history. After World War II, technological advances, a substantial increase in productivity. In order to sell goods, merchants devised many innovative marketing approach, such as installment on credit cards, credit cards and so on. The emergence of consumer credit expanded the size of the market and make consumers can enjoy the things they want in advance. If the purpose of the use of credit standards, consumer credit can be subdivided into retail credit, such as credit and cash. (1) Retail Credit Retail credit is the retailer to the consumer in a way to provide credit products and services, directly to the consumer to the retailer to buy a medium of exchange of the final product. In this way, companies or retailers increased sales, for more consumers. In the modern market economy, retail credit has become a means of market competition. In retail credit, the cycle can be divided into specific credit, installment credit and credit services. Revolving credit is an agreement between the retailer and the consumer. Pursuant to the Agreement, the retailer allows consumers within a pre-agreed limits on credit to purchase a variety of goods. Retail installment credit is a need for the recipient to pay the first payment, and then pay a fixed amount to be scheduled within a certain period, until the date payment is also fully Ministry. It is different with the revolving credit, consumers and businesses to sign a sales contract, after payment of the balance of credit transactions in automatic termination, so it also called closed credit. Professional services specifically refers to credit consumers can get professional services in advance, upon receipt of invoice before making payment, short-term credit provider of professional services provided to consumers. Professional services similar to the above credit revolving credit, just replaced by a professional service actual product. (2) Cash Credit That cash credit cash loans. When consumers in need of cash due to various reasons, you can apply for loans from financial institutions, consumers get cash, credit the main financial institutions. Cash credit than retail credit a lot of progress: Retail credit limit on the trading of specific goods, and the cash credit can enable consumers to purchase any goods as well as more extensive use. And retail credit as cash to repay the credit due to different methods can be divided into installment loans, single payment loans and general purpose credit card three. Installment loans are a loan agreement. It borrower agreed period of time in the future at a fixed and regular payment to repay the loan. Borrowers must provide proof of income and financial stability, so that the lender to the borrower to repay the loan in the future confident. Single payment loan is a short-term loan, the loan period is usually shorter than one year, and at the end of the period specified, the Borrower shall pay the entire loan once. General-purpose credit cards by banks, finance companies or large companies finance department issued the certificate issuing companies loan pre-approved for the cardholder. Such loans are usually provided with credit, ie credit card cardholders to purchase goods or pay the maximum amount
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The basic categories of credit
First, the identity of the debtor in accordance with the classification Western developed countries, as is the identity of the debtor's classification criteria, the public credit and private credit is divided into two major categories of credit. Public credit is the government credit means a credit society to help the government achieve its success and the award of government functions, and its core is the government's debt. Including consumer credit and personal credit and business credit. Consumer credit or personal credit: product manufacturers, retailers, banks granted personal credit for the purchase of goods or borrowing. Such as: Consumers buy a car in installments, housing, when large consumer durables, personal credit granted by banks. Business Credit: commodity sales process, a business credit granted to another enterprise. As manufacturers of raw materials production enterprises granted or awarded production companies wholesaler, wholesaler retail corporate credit granted. Consumer credit can be subdivided into retail credit, cash credit and real estate credit. Business credit can be divided into commodity credit and financial working capital. Retail credit can be subdivided into revolving credit, installment credit and professional services retail credit. In the same standard classification, can be subdivided into cash credit installment loans, individual loans and general purpose credit card. Second, to classify objects according to the fiduciary Credit can be divided into public (government) credit, businesses (including commercial and industrial enterprises and banks) consumer credit and personal credit. There will also be divided into public credit credit and private credit, this division method is applicable to state-owned enterprises do not exist in capitalist countries. Essentially, no matter for how commercial credit and consumer credit classification, is nothing more than corporate for corporate, business to individuals, financial institutions, enterprises, financial institutions, individuals some form of short-term financing. If the object is a fiduciary or individual businesses and individual consumers, credit nature can be divided into a private credit. From the perspective of people in terms of credit, the credit can be divided into bank credit, investment credit, such as credit and commodities. In Western countries, public credit at all levels of government debt capacity. Government to provide services such as defense, education, transportation, health care and social welfare services to the public, requires huge expenses incurred. Under certain period of time or government fiscal policy, the tax increase government often can not balance the increased fiscal spending, in order to make up for the deficit, the government will issue or sale of a variety of credit instruments, credit instruments are typically government bonds, these credits tool holders on behalf of the government to repay funds in the future commitments. This commitment to repay the debt from government agencies, it is called public credit. In practice, enterprise credit management, the product credit sales (product credit) refers specifically to the class factory for the manufacture of production credit corporate nature of customers, it is the legal sale of legal persons. Credit course in the product, the seller of credit are generally material suppliers, product manufacturers and wholesalers. Beneficiaries product credit for the buyer, they are a wide variety of client companies and agents. The buyer's own name often get the seller to give credit. In China, sales of the product buyer credit is generally all kinds of different forms of ownership of enterprises and legal persons. Such credit is the main form of business credit credit management to be studied. Credit sales of goods (trade credit) refers specifically to the individual commercial business to consumer credit, consumer credit consumer to enjoy, it is a legal sale of natural persons. Credit sales of goods in the credit side is generally malls, shops, various retailers, as well as providing financial support for consumer credit commercial banks, finance companies and manufacturers. Beneficiary of a buyer credit sales of goods, they are mostly all kinds of customers holding credit cards, they generally do not have long-term demand and supply contract with the seller, unless they signed with the manufacturer's representative or financial institutions to obtain consumer credit contract. For enterprise sales management purposes, credit and commodity products on credit credit management approach is different, the two credit buyer at a different credit markets. Investment credit is generally defined by a number of financial institutions or private funds to provide a relatively long-term corporate credit to help beneficiaries to start a business, the purchase of land, buildings, equipment and other fixed as_set_s. Most of them are without insurance or adequate collateral for. Fiduciary is often the opening of new businesses, issuing such credit institution is usually insurance companies, trust companies, education or pension funds, securities firms, and government agencies. Generally speaking, the investment credit also belongs to the range of commercial credit. For credit people, made by some form of credit granted to individuals who apply for credit is called personal credit, personal credit and consumer credit is often referred to. Direct credit personal credit are often side by retailers, commercial banks and finance companies and other product manufacturers commissioned. Consumer credit is used for everyday shopping or make a small loan. Credit cards like credit card also typical consumer credit payment instruments. For individual consumers trusted, this kind of credit is used for a variety of commodities and consumer goods on credit. When the market is in the early development of credit transactions, consumer credit credit side usually require the applicant to provide collateral or credit purchases repayment insurance. From a consumer credit in the form and technical point of view, he can be subdivided into two types of retail credit and credit cash. In the course of commodity credit, commercial banks and finance companies play for buyer financing and paid support, and help expand the role of the sales of the seller, which means mainly the issue of credit cards and installment agreement to buy the goods. From the perspective of the creditor, which is a bank credit, in Western countries, bank credit by commercial banks or other financial institutions to grant credit businesses or individual consumers, in fact, it is a short-term small loans through a strict approval. It is mainly to help enterprises solve temporary liquidity shortages, for example: to help enterprises solve the shortage of funds business cycle, seasonal liquidity shortages, large inventory finance, corporate holders of accounts receivable generally caused by an excessive amount of temporary Expenditures greater and so on. The so-called temporary spending large, referring to the relocation and installation fees as businesses move generated. In China, commercial banks are not temporary spending items of credit business, companies are no strong demand. All in all, bank credit involves two areas of personal credit business credit and consumers.
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Credit allusions
In 1596, a captain of the Netherlands with 17 sailors were trapped in the frozen waters of the Arctic Circle in a place. 8 month long winter, eight people died. But the Dutch businessman has made an unimaginable thing, they move without let others entrusted to private transport their goods, these goods in there that could save their lives clothing and medicine. Frozen season ended, surviving almost intact merchant cargo zone finally back to the Netherlands, to the clients hands. There are good reasons for the Dutch contingent, they can first open the box checked, eat something to eat, until the destination, you can double the repayment of shippers. Anyone would agree with this humane approach. However, the Dutch did not do so. They put their own lives than our commercial credit is more important. With their lives as consideration, hold credit, created after World Biography of business law. At the time, the Netherlands was just a small country of 100 million people, but because reputable, and become powerful maritime trade, the Dutch Fook Yum generations.
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Credit explanation
[Words]: Credit (Credit) [Phonetic]: xìn / shēn yòng Credit is the trust and integrity of prolonged accumulation. Credit is rare volatile. Fee decades of effort to accumulate credit, often due to a moment regarding the words and deeds be lost. Faithful and the line made by the right way, will be for the people of the world are convinced. Have credit, people have believed the letter yourself. Everyone has the faith to make an independent self-esteem themselves and others can be achieved. Do what it preaches, if you have credit. Young people do not lose faith because of a little thing, because it is the beginning of the period of life, leaving a small scar, "too late, too late." Also as Aesop's Fables - "crying wolf" told us to lie is a bad behavior, that it does not respect others, others will lose their trust. Credit means that we are facing a record of past commitments, it is a performance art, everyone can try and be a self-management behavior management. In the "new economy Pag Leif Dictionary", the credit explanation is: "to provide credit (Credit) means putting on something (like a sum of money) is given so that the degree of property rights, in exchange for a future in a particular Ownership time for additional items (such as another part of the money) is. " "Oxford Dictionary of Law," the explanation is: "Credit (Credit), refers to the provision of goods or services to get or not immediately but promised to pay compensation practices in the future." "Money and Banking" credit explanation is:. "Credit lending practices in this area is the economic behavior of this feature is to recover his pay conditions, or in order to obtain restitution obligations; reason why lending and credit, is entitled to interest because the latter was possible to borrow, because the assumed obligations to pay interest. " Historical development of mankind today, "credit" is the word that already contains extremely rich connotations. It is probably one of the most complex of human knowledge, the most elusive concept, "Some things exist only in the minds of people, in all these things, no one is more bizarre than the credit which is more subtle; credit has never been compulsion, but voluntarily, depends on the expectations and worry that some of the feelings; credit often do not appear to fight on his own, they always disappear for no reason; and credit once lost, it is difficult to fully recover ...... credit is very similar, And on many occasions like is that people rely on to manage the national bravery and commanding intelligence and battlefield earned reputation and fame. politicians and eminent competent and excellent captain, because of some unfortunate accident, momentary mistake or luck soiled reputation of poor, lost love everyone, but as long as he has a remarkable talent, real ability, reputation will be restored sooner or later. Similarly, although it will temporarily eclipsed credit, struggling in trouble, but as long as it has a reliable and solid foundation, to some extent can be restored. "credit for understanding the true meaning, benevolent see benevolence and the wise see wisdom, can be explored from different angles, in the usual sense, we can at least from the perspective of four to understand the "credit." From the ethical perspective: credit mainly refers to the parties to participate in social and economic activities are established, and honesty as a moral foundation, "Truly" behavior. From a legal perspective: "Civil Law" provides that "Civil activities shall comply with the voluntary, fair and equal compensation, the principle of honesty and trustworthiness"; "Contract Law" requires "the parties are honest to others bully, seeking credit, to keep his promise , and in the contents of the contract, the meaning and application aspects should be based on the principle of good faith to explain the contract "when the dispute. From an economic perspective: Credit refers to the exchange of goods or other economic activity in credit in full trust fiduciary able to achieve on the basis of their commitment to lend a fiduciary relationship with the contract, and to protect their principal value can reflow and The value of the exercise. First, from an ethical point of view From an ethical point of view to understand the "credit", it actually means "keep its promises" a moral quality. People in everyday life speak of "integrity" and "credible", "disloyal", "good as gold", "promised to do certain things," "Junziyiyan, Sima difficult to recover," reflecting the fact that this level of meaning. From this perspective the credit, it a country, a nation is crucial, because a society is only disloyal to be able to form a good society, "the trust structure" (trust structure), and this structure is a trust important foundation for normal social functioning. People will find "mutual trust with obedience, love, friendship and conversation, is the people of a country, and to maintain contact with an indispensable condition," Simmel also pointed out: "There is no universal among people enjoy mutual trust, society itself will collapse. ...... modern life is built on the basis of trust in the honesty of others on the importance of this point is usually much greater than people want to recognize the extent. "No one can say that society does not emphasize the Testimonials ethical and moral dimension of trustworthiness in our country, advocating traditional fashion credit for thousands of years, "Analects", "trust" appears 38 times, though lower than the frequency of benevolence (109), Eli (74) ; But most ethical terms described above, such as good (36 times), Yi (24), King (21), Yong (16 times), shame (16). For example: "Since ancient times, has died, people without faith without legislation"; "Dade is not official, no road, a large letter is not about"; "true to its word, line must be fruit", "and people pay, beyond belief "etc.. In Western society, the word is also pursuing a moral people spindle, the "Bible" on credit terms, there have been dozens of trust as much. From the point of view of business ethics perspective of enterprise credit implications, Di Qiaozhi. Provides a unique insight: he thinks integrity (integrity) behavior consistent behavior refers both to conduct itself with the highest accepted norms, but also refers to the normative ethical requirements added to their behavior. He pointed out that the integrity of the behavior is the biggest characteristic: Ethics is "self-imposed and voluntary acceptance", so on this subject "non-moral myth" of the enterprise, "to emphasize the business and its top management and self-discipline." More importantly, he limited the scope of the act in good faith, at least to the ethics "beyond reproach, while positive values" for the lowest moral bottom line, that companies' behavior itself to accept the highest specification "at least low At the bottom line. Second, from an economic point of view From the economic point of view to understand the "credit", it actually refers to the relationship between "borrowing" and "loan" of. Credit actually means "to obtain a sum of money within a limited period of time expected." You borrow money, Shipment (credit), in fact, you get the equivalent of each other for a "period of credit," you have been able to get the other side of this "limited duration of credit" mostly because you trust each other, and sometimes it may be because of strategic considerations and other factors last resort. From an economic point of view has a rich understanding of the level of credit, at least from the state, banks, enterprises and individuals to understand several levels. National Credit contain at least two meanings of this, the first lending relationship between the State and the State, the so-called sovereign debt, such as the famous Brady bonds, the United States in the 1980s lending to Latin American countries, Asia and the country low-interest loans in some countries and regions in Africa, Japan Overseas Cooperation Fund loans, World Bank loans. Second, the performance between the national government and the country's corporate lending relationships with the residents, the government issued bonds, purchased by businesses and residents, which is actually the government 先向 businesses and residents to borrow money, then invest in maturity When subordinated to principal and interest. Get credit between banks and enterprises, and individuals is mutual. From businesses and individuals to obtain bank credit, it is to show businesses and individuals to borrow money, which is the foundation of their survival. Meanwhile, businesses and individuals need to obtain credit from banks, companies can use it to meet their urgent needs, or investment expansion, etc.; individuals can use it to meet emergency needs, improve the quality of life. Business and enterprise, credit between individuals, mainly reflected in two aspects, one commercial credit (also known as trade credit, that trade credit), or you can call the credit B-B, which mainly refers to the business to business Non-cash transactions between credit is often said that we should not simply be seen as some of the credit target only tangible goods, such as automotive parts suppliers batch of parts; it can actually be a projects, such as construction company completed the construction of a building, for projects not yet fully recovered, then the construction company credit out of this building is not only in the construction of the pre-pad funds, materials, as well as in the building process labor; even be some intangible services, intellectual products, such as management consulting firm providing advisory services and so on. Second, credit companies and individuals, can also be called B-C credit, this form of credit in our daily lives is very common, such as our mobile phones are often a consumer credit consumption, we always pay the last month's expenses this month, China Mobile calls can even allow you owed two months. Third, from a legal perspective From the perspective of understanding of the law, "credit", it actually has two meanings, one refers to a relationship between the parties, provided that the rights and obligations of both parties "contract" is not required at the time of delivery, the time lag, there is credit; second meaning refers to the rights of the parties in accordance with the "contract" provides enjoyment and shoulder obligations. At this level there are two points to understand the credit needs attention. First, the "contract", we can put this contract as a narrow economic contracts, contracts for the supply of two small enterprises, large number between the two countries billions of dollars in debt; also as a broad social contract, such as a contractual relationship between you and your parents, your parents have a duty to raise your adult, you also have the obligation to support your parents. The second is the "contract" Another very important feature, which is a necessary condition constitutes a legal credit, it is non-real-time delivery. If the realization of the rights and obligations are carried out simultaneously, then it will not constitute a credit, there must be a certain time lag between the two credit will appear. Fourth, from a monetary point of view In the eyes of credit creation school, credit is money, money is the credit; credit money creation; credit capital formation. There is an important genre in the monetary and financial science, namely John in the 18th century. Lo is a pioneer in the 19th century, Michael Rood, South Korea and Schumpeter and other representatives of the people of the 20th century "credit creation of school." In the eyes of the school, the credit is money, money is credit. • John Rau said: "Credit is necessary and useful to increase the credit amount increases with the amount of money has the same effect, that they are also able to produce wealth, prosperity commercial." Conducted by bank credit creation, can much more than a decade engaged in trade increased the amount of money within a year. So, France For rich, really need to resort to credit; otherwise, other than the powers in the use of credit, the French will soon fall into the situation of poor and weak. "" As long as money is rich, that is able to create the prosperity of a country; as long as credit facilities (he mainly refers to banks, etc.), which can supply a wealth of money to the economy to the initial impact; rely on such shocks, the French will be able to output wealth. "The basic logic of John • Labour is this: Money is wealth - money does not have to be gold and silver, and land, bonds, stocks, etc. to ensure that the issue of paper money is the best - the bill is a credit bank - By supplying this bank credit, can provide a wealth of money - in the initial impact on the economy - relies on such an impact, you can make the country strong, prosperous economy; short, the credit that currency; currency is wealth, namely capital. Mike Rood in his "Theory of credit," pointed out: "People in the production of materials and labor and human exchange, and in exchange for money, this money can be used both to feed their families, can not be used to cover themselves, but people are willing to use Its production materials and services in exchange for money, which is why? because later in exchange for money, when you need it, the virtue required in return for the sake of the matter, so is the nature of money, but others require the production of materials and services right or symbol, which is a real credit "," therefore, monetary gold and silver metal can be rightly called the credit. "Mike Rood that the essence of both credit and currency is consistent, is the creation of credit money increases, the two can be unified in under the concept of "currency", and differ only in degree: (1) credit is only a single value, but there are most of the value of money or general value of credit just one person of a claim, but the money is a claim on general merchandise; (2) credit only special value undefined (because of death or insolvency of the debtor, the credit becomes worthless), while currencies have lasting value. Korea is recognized as the representative of the theory of credit creation, he published "The theory of bank credit in the economy" in 1920, a significant impact. He was such credit is the currency of discourse: "For the purposes of payment, the transfer from one person to another person to draw a check or deposit, the legal point of view, naturally just redeemed voucher money, but from an economic point of view, As long as it takes to complete the conversion of the currency of the cost function bit of money, it is not just redeemed voucher money, but money itself is real. "" money to the bank redeemed certificates, as long as it is infallible, any person willing to accept, then it is treated as a currency in circulation. "Han theory focuses on credit can clarify the formation of capital. He believes that the more credit expansion, lower interest rates, on the more productive capital goods, which are better able to form capital; On the contrary, the more credit contraction, the higher the interest rate, Jiyu less productive capital goods, and thus the capital that is not easy to form. His famous proposition is: "Capital formation is not the result of savings, but the result of credit offered." "If you say that the demand for production is primary, then the credit provided to the primacy of capital formation is also provided if there is no credit. any capital goods are not able to produce, and therefore it is impossible to capital formation. supply of credit can lead to capital formation, just as the demand caused by the production of the same. " Schumpeter pointed out: "a more useful approach might be to start from credit transactions, financial capitalism as a clearing system, which off_set_ the debts, the differences are transferred to the next stage - making the 'currency' pay to become special cases , without any special fundamental importance in other words, from the fact and analysis in terms of a monetary theory of credit may be better than one currency credit theory. " Some other well-known economists have done a similar comment sense. Mrs. Robinson once clearly pointed out: "Money is actually a credit problem." Swedish school representatives Weichsel also said: "Strictly speaking, we can conclude that all the money - including metallic money - all credit currency. This is because the value of direct force to promote the occurrence of that confidence is always flowing recipient of tools, is that he believes can take to get a certain number of goods, but the bill has only a purely local credit, and how much is in the international precious metals within the range of acceptable, but everything is just a question of degree. "
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The basic characteristics of credit
Credit is the basic feature Economic aspects of the credit has its specific meaning, it refers to a lending practices, which means that the creditor-debtor relationship between the creditor and the debtor. This refers to repay the lending practices as a condition to pay, and this pay just transfer the right to use, and there is no transfer of ownership, payment of interest and repayment of its basic features. Repayment of credit is conditional on the value of unilateral alienation, it is different from commodities trading. In commodity trading, the value of peer to peer transfer and movement, have paid their dues, hand delivery: sellers of goods sold, to obtain monetary equivalent; buyers to pay money to obtain merchandise. But that lending activities of credit, loans were given a portion of the currency or commodity by those who, by those who did not carry out the same time the loan value compensation in any form. Which itself contains a credit risk.
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Modern economy is the credit economy
How to understand the modern economy is a credit economy? Modern economy is the credit economy, this problem can be analyzed in three ways: (1) the characteristics of the modern economy works. With the expansion of the modern economy is an economic nature, need the help of debt to expand production scale, updated equipment, you need to go to the aid of various forms of credit financing, process improvements, and sell products. Secondly, the modern economy creditor-debtor relationship is the most basic and widespread economic relations. Economic activity in each sector. Permeated every aspect of creditor-debtor relationship. Vietnam's economic development, the closer the relationship between credit and debt, the more a necessary condition for the normal functioning of the economy. In addition, the modern credit economy is the most basic form of currency currency. The formation of a variety of economic activities currency revenue and expenditure, and the balance of payments in these currencies are ultimately bank as_set_s and liabilities, reflects the credit relationship between banks and other economic sectors. So credit has become a ubiquitous most common economic relations. (2) to analyze the relationship of credit from various departments. Credit relations of individuals, corporations, governments, financial institutions, international payments in any economic activity in these sectors are inseparable from the credit relationship. In: personal savings or through bank loans with the bank to obtain consumer credit relations formed a personal purchase of government bonds, corporate bonds and government, enterprises formed a debtor-creditor relationship; business credit relationships in both the main supplier of monetary funds, but also The main demand by monetary funds; government through borrowing, lending credit relationship between the formation and the residents, businesses, financial institutions or other institutions; financial institutions as credit intermediaries absorption and accumulation of funds from all sectors of society, through its lending and other activities use out; surplus, adjusting the balance of payments deficit is also inseparable from the credit. This shows that the credit relationship has become the most common basic economic relations in the modern economy. (3) to analyze the role of credit from the modern economy. Credit role in promoting the development of a modern economy is mainly manifested in: credit guarantee smooth modern mass production, that credit from the funds to provide for the modernization of large-scale production; in the margin guidance, so that free capital credit transfers between different departments , resulting in the same level departments tend margins, thereby adjusting the proportion of the natural development of various sectors; credit in circulation on the basis of the credit system tools instead of metal produced by the circulation of money, saving distribution costs, accelerate capital turnover; credit for the establishment and development of the company's shares create the conditions, while credit aggregates capital, expanding the role of the scale of investment by the company in the form of shares have been fully realized. Based on the above three areas, difficult to see that the modern economy is a credit economy.
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The role of credit in the modern economy
What is the role of credit in the modern economy? The role of credit in the modern economy of both positive and negative side. Its active role mainly in: (1) credit can promote the rational use of modern social capital. By borrowing money can flow to higher investment income project, you can make the necessary investment funds, capital surplus units they can get some income; (2) modern credit can optimize the allocation of social resources. By credit swap, so the timely transfer of resources to the needs of those resources where you can maximize the use of resources; (3) modern credit can promote economic growth. On the one hand idle funds through credit mobilization, the consumption of capital into productive capital directly into production areas, expanding the scale of social investment, increasing employment opportunities and increase social output, promote economic growth; on the other hand, can create and expand consumer credit By stimulating the growth of consumption and production expanded to increase output, can also play a role in promoting economic growth. Negative effects of credit to the economy mainly in the credit risk and economic bubbles. Credit risk is the risk that the debtor is unable to repay the principal and interest of the creditors as promised. In modern society, the credit relationship has become the most common, basic economic relationships between the various subjects of social debts staggered, forming a complex chain of debts, there is a link break this chain, it will trigger a chain reaction, the whole Credit Contact cause great social harm. Economic bubble is the price of an as_set_ or commodity greatly deviate from its fundamental value, beginning of the economic bubble is skyrocketing price of the as_set_ or commodity price surge is the result of supply and demand imbalance, that the demand for these as_set_s or commodities rapid expansion, a very land beyond the supply, demand and credit expansion gives a realistic ability to pay for the purchase and support the economy bubbles appear possible.
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Encyclopedia
xinyong Credit credit That lending activities. Special form of the condition to repay the value of sport. Under the conditions of existence of commodity exchange and circulation of money, the creditor to lend money in the form of conditional or transferring goods on credit, the debtor to repay borrowings are stated at the agreed date or repayment of money, and pay interest. Credit is subordinate to the relationship between commodity currencies an economic category, is not peculiar to a given society. From the primitive communal system to the end of socialist society, there is a credit relationship. However, under different social systems, credit reflects the different relations of production. Usury credit it is the oldest form of credit, resulting in the disintegration of the primitive communal system period. Since the development of the social division of labor, the exchange of growth and the emergence of private ownership, division emerged within the primitive wealth, monetary riches concentrated in certain relatively wealthy families, while others are poor families is the lack of money, which formed the objective to generate usury Conditions. At the time, usury credit appears partly in kind. With the development of the relationship between commodity currencies, currency lending has become the main form. Usury in slave and feudal society gained wide development. Usury is a conservative form of credit, its extraordinarily high interest rates tend to make farmers and other small producers and even harder to maintain the simple reproduction in usury, so that small-scale production was severely damaged, hindering the development of social productivity. With the development of capitalist relations of production, usury become an obstacle to the development of industrial capital, high interest rates make capitalists unprofitable, which resulted in the emerging bourgeois struggle against the usury (see usury capital). Credit capitalism capitalist credit generation and industrial capital cycle has a direct link, circulation of industrial capital formation temporarily idle money capital. Since monetary capital can not bring profits to the capitalists, the occurrence of conflicts and characteristics of capital, requiring it loaned out to get interest; while some capitalists in the process of reproduction is often need to supplement monetary capital. Therefore, through the form of credit, some capitalists temporarily idle money capital transferred to other industrial capitalists to use, and then repay and pay some interest. Capitalism major commercial credit in the form of credit, bank credit and state credit, including commercial credit and bank credit as the basic form. The former is the basis of the capitalist credit system, which is dominant in the capitalist credit. Commercial Credit Credit between reproduction industry engaged in the sale of goods in capitalist deferred payment offer. Promissory notes and bills of exchange are commercial credit tools. Commercial credit lent capital is not idle capital, but as part of industrial capital goods capital. By means of commercial credit, you can accelerate the process of goods, thereby contributing to the whole reproduction process continuously. Due to commercial credit is lent capital goods, making it restricted the number of industrial capitalists in the scale of capital; restrictions on the direction of the subject merchandise sales direction. These limitations make commercial credit can not meet the needs of the development of capitalism. Bank credit by banks to loans and credit discounting, etc. provided. It is the need to adapt to capitalism expanded reproduction, developed on the basis of commercial credit. Bank by handling the liquidation and transfer of industrial capitalists and savings deposits, the loan capital heavily concentrated in their hands, while loans to the community. Individual bank credit is not prepared to limit the amount of capital the industrial capitalists, and can be in any direction of the capital allocated to the various production departments to restrict sales of goods no longer subject to the direction. Bank credit to overcome the limitations of the kind of commercial credit, which can meet the needs of the development of the capitalist economy to a greater extent. National finance national credit lending activities conducted. The main form of Treasury bonds and short-term issue. In addition, commercial capitalists (see commercial capital), bank or pawn to individual consumers to provide consumer credit. Important role in the role of credit capitalism with capitalist production, mainly in: ① capital transfers provide a convenient, thus contributing to the margin averaged; ② greatly facilitated concentration and accumulation of currency and monetary capital to promote the shares the establishment and development of the company, so that capitalist production scale has been expanding rapidly; ③ due credit to promote and accelerate the reproduction process of credit instead of money in circulation tool, significant savings in circulation costs. But credit also contributed to the capitalist overproduction and the prevalence of commercial speculation
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English Expression
: Confidence
n.: affiance, credence, credit, faith, honor, jawbone, reposal, trustworthiness, quality of being generally accepted and trusted, credit, faith, honor, credence, tick, reposal