| In the times of economic globalization, especially since the Third Plenary Session of the eighteen central committee, deepening the reform of the economic system, the adjustment of industrial economic structure, the transformance of economic growth mode have become the most urgent problems in China’s current development. In the economic and social transformation of the major strategy in the process, the progress of science and technology plays an important role. The activityin R&D of science and technology innovation, achievement of science and technology and industrialization of high technology need market carrier-high-tech SMEs. It has become an important pillar in the progress of the technology development and transfer, scientific and technological industry development as well as the promotion of employment; at the same time it has a higher contribution to national economic growth. However what is not consistent with that, high-tech SMEs in various stages of development is in the trouble of "financing", and it has become an important obstacle of restricting the sustainable and healthy development of high-tech SMEs=In recent years, the research about high-tech SMEs’finiancing problems is hot in the academic, abd there are a large number of research results, but many studies are simply from the SME itself or one aspect, through simple perspective to study all kinds of problems related to the SME financing problem, such as the structure and efficiency, the high-tech SMEs financing channels and innovation, financing costs and benefits issues. Comprehensive study of the financing system of high-tech SMEs lack of a systematic review of the literature. At present, China is at a critical stage of reform, the development of the market economy is not perfect, the high-tech SMEs financing channel is narrow. We should build the financing system of high-tech SMEs to let the financing environment in harmonious coexistence match with high-tech SMEs in China’s specific conditions.Based on this, this paper selects USA, Germany, India and other typical countries financing system for comparative evaluation, through comparative analysis we found that the current financing system is not perfect, explore effective ways to optimize the financing system of high-tech SMEs for our country. The main content of this paper includes the following parts:firstly we introduce the research background, significance and research status, and the related theories and conceptions in this definition; the second is the analysis of the high-tech SMEs financing system’s present situation, and select typical countries to do comparative analysis, draw lessons from foreign advanced experience; the last is the idea of the construction of the overall financing system of high-tech SMEs. Mainly based on feature, we fund demand analysis of the different stages of high-tech SMEs financing gap and financing ability, makes an empirical analysis on the development method of the existing financial system, and conceives the overall. Finally is the policy level, we build a multi-level direct financing system led to diversification, indirect financing system and functional social support system for science and technology the small and medium-sized enterprise financing system. The multi-level direct financing system to cover the SME board, the gem, the new Sanban listed financing system as the leading factor, the enterprise bond financing, the OTC market and risk investment for the two wings; indirect financing system is diversified to include bank of science and technology, community banks and private banks and commercial banks as the leading factor, the traditional large commercial banks and shadow banking system for the two wings; functional social support system is the credit system oriented to taxation, legal support, and policy financial support for the two wings.
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