Core Viewpoint - The news highlights the financial troubles faced by investors in the Han City Private Lending Registration Service Center, with many unable to withdraw their investments or receive promised interest payments, leading to widespread concern among the community [1][15]. Group 1: Investor Experiences - Yang, a local resident, invested over 800,000 yuan in the center based on recommendations from friends and the perceived stability of the platform, but has not received any interest payments since September [3][11]. - Another investor, Mr. Zhang, invested 300,000 yuan in 2015 and continued to reinvest his monthly interest, totaling nearly 700,000 yuan, but is also unable to recover any funds [5][11]. Group 2: Government Response - The Han City government has acknowledged the issue and stated that relevant departments are handling the situation, with promises to return some funds to investors by the end of the month [1][15]. - The center has announced plans to publicly dispose of assets to repay investors, indicating ongoing efforts to address the financial crisis [15]. Group 3: Background of the Lending Center - The Han City Private Lending Registration Service Center was established in June 2014 as the first private lending service institution in Shaanxi Province, aimed at regulating private financing and supporting small and micro enterprises [11]. - The center was promoted as a government-backed financial innovation platform, which contributed to investor confidence in its operations [11].

Core Insights - The comprehensive financing interest rate index in Wenzhou for October 2025 is reported at 12.88%, showing a month-on-month decrease of 0.65% and a year-on-year decrease of 2.15% [1] - The total financing amount in October was 1.773 billion, reflecting a month-on-month decrease of 57.14% and a year-on-year decrease of 3.98% [1] - The number of transactions in October was 5,541, with a month-on-month decrease of 62.52% but a year-on-year increase of 14.79% [1] Financing Structure - In October, small-scale financing (below 1 million) accounted for 64.02% of the total, medium-scale financing (between 1 million and 5 million) accounted for 16.84%, and large-scale financing (above 5 million) accounted for 19.14% [1] - The proportion of medium-scale financing decreased by 13.80 percentage points month-on-month, while small-scale and large-scale financing proportions increased by 8.31 and 5.49 percentage points, respectively [1] Interest Rates - The financing interest rate for market entities in Wenzhou was 15.49%, showing a month-on-month decrease of 1.23 percentage points [1] - The direct lending rate was 10.06%, with a month-on-month increase of 1.11 percentage points [1] - The financing guarantee fee rate was 0.25%, reflecting a month-on-month decrease of 0.14 percentage points [1] Financing Terms and Uses - The highest interest rate for a one-year term was 23.24%, while the lowest for a six-month term was 11.20% [2] - One-year term transactions dominated, accounting for 80.13% of the total [2] - The primary use of financing was for business loans, with proportions of 87.38% for business loans, 11.84% for bridge financing, and 0.78% for personal consumption [2] - The financing distribution across industries included 73.01% for other industries, 18.49% for manufacturing, 4.89% for agriculture, 3.36% for services, and 0.25% for real estate [2]