| Reasons for why development of Medium & Pint-sized Enterprises is always cared by government in various countries, is that it is the key parts of the whole national economy. It possesses great percentage in GDP, and acts as pioneer in economy increase, employment obtaining, and technology innovation. However, Medium & Pint-sized Enterprises are always facing problems such as market permit, capital financing, talent indraught, information sharing and science & technology appliances, because of limited scale, high business advantages, short credit, etc. Most of all, issues of financing is the top bothered difficulty to Medium & Pint-sized Enterprises.Taking a vertical look to developed Hesperian countries on their financing mode to Medium & Pint-sized Enterprises, we find it equal to large ones. It generally contains inner-financing and outer financing, under which divides into direct financing and indirect financing, or debt capital financing and rights & interests financing, etc., concretely saying, there are bank credit, commercial credit, financing credit, bond issue, main market, hypo-market, venture capital, etc. In spite of these, dependence on various financing channel of Medium & Pint-sized Enterprises differs a lot by discrepant calling, region, or development age.Financing mode of developed Hesperian countries comprises 2 types of market leading (U.S.A.) and bank leading (Japan, Germany). However, these 2 modes are trending to transform and inosculate one another from 1980's, following the tide of rapid world economic development and globalization.Considering detailed financing channel of Medium & Pint-sized Enterprises, inner-financing occupies highest percentage. The higher the marketization the country is (England & U.S.A.), the higher the inner-financing percentage is. However, among all outer-financing channels, bank credit in indirect debt financing stands in the primary position without doubt. Large commercial bank and Medium & Pint-sized bank construct a certain complete and expert financing system for Medium & Pint-sized Enterprises, as well finance supporting system assured by government. This pledges that Medium & Pint-sized Enterprises gain the bankroll they need. Meanwhile, loan from non-bank organ such as retirement fund, life insurance companies to Medium & Pint-sized Enterprises, and financing leasehold are occupying certain percentage in indirect credit financing to Medium & Pint-sized Enterprises. In direct credit financing, bond issue of Medium & Pint-sized Enterprises bring themselves fine financing income. Thus commercial credit built up between enterprises also establishes a special financing channel for Medium & Pint-sized Enterprises. Of course, all these depend on developed finance market and good commercial credit environment in Hesperian countries. In rights & interests financing, "Angel Capital" and adventure capital bring infinite vital force and energy to high science & technology industry or well accrescent Medium & Pint-sized Enterprises. They do not only make financing, but also effect and drive operation of enterprises' development and policy constitution. Thus enterprises are able to be involved in benign circulation, and get grown, enter into stock market, as well accomplish capital circulation. In stock market financing, hypo-market and OTC market are more practical to Medium & Pint-sized Enterprises. But generally speaking, rights & interests capital financing occupies less percentage in financing of Medium & Pint-sized Enterprises.Medium & Pint-sized Enterprises in both our country and Hesperian countries are all facing difficulties in financing, problems in our country are more outstanding. This comes from policy, law, banking system, and management and dealing usage of the enterprises themselves. Lag in capital market and finance market, as well building of credit system in the society is also included. Deep-seated reasons are institutional obstacle and institutional renovation in shunting period.Difficulties that Medium &...
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