The Comparative Studies On The SMEs' Financing In United States Of American And Japan

United States and Japan are world economic powers holding the top two places in economy which attach great importance to the development of Small and Medium-sized Enterprises (SMEs in short). In their economic systems, there exist not only a small amount of large enterprise-centered economic patterns but also a huge number of SME economic patterns which play an essential role in their national economic development. Therefore, it is of great significance to make comparative studies on the important issues of SMEs, the basis of their national economies, analyze the advantages, disadvantages and characteristics, find out the individualities, commonness and regularities, and summarize the experiences and lessons. The studies are of substantial significance for the development of modernized SMEs with Chinese characteristics.There are also a great number of SMEs in China. For a long time, the one-sidedness, blindness and theoretical confusions of the understanding of SMEs result in some policy errors. Since the beginning of reform and opening up, SMEs have made headway and made tremendous contributions for the healthy and rapid development of the national economy. However, difficulties also exist in the development of SMEs, especially the difficulties in SME financing is a general problem to China's SMEs.The article makes use of comparative study methods in the systematic discussion on the SME financing problems in US and Japan. Comparative method is a basic way of human's thinking and comparative study is a fundamental scientific research method. The so-called comparison is comparing more than two things in accordance to some criteria and finding out their commonality and diversity, then analyzing and drawing conclusions with some regularity. Generally, comparative methods include micro-comparison and macro-comparison; comparison on content and comparison on form; horizontal comparison and vertical comparison, etc. From the methodological point of view, the methods are divided into "descriptive comparison" and "analytical comparison ". These two methods are used flexibly and alternatively throughout the article to make a detailed study on the relevant content.The article broadly describes the SME financing from the perspective of concepts and methods and on this basis makes a comprehensive analysis on the SME financing in US and Japan. From the financial policy, financing structure and financing conditions, the article also analyzes the main features of SME financing in US and Japan, compares their differences, and sums up their experiences and lessons for improving the China's environment for SME financing. On the basis of analyzing the current status of China's SME financing and borrowing the foreign experiences, in light of China's current situation, the article makes...