The Research On The Problem Of Financing To China's Small And Medium Enterprises

Since the reform and opening up, the Small and Medium Enterprises in China developed rapidly, and it has become the most active force in modern economic life. The SMEs has played an irreplaceable important role in the promotion of scientific and technological progress, to solve the employment, increase tax revenue and export expansion, it has made tremendous contributions in the development of the national economy. However, due to a variety of factors, the development of SMEs exposed many deep-seated problems, such as independent innovation ability, a serious shortage of funds. Among the many issues, financing of SMEs is a key factor in limiting their development. Both developed and developing countries, SMEs Financing has become the "bottleneck" and has seriously hampered economic and social development.Since the 2008 financial crisis, with the sharp decline in foreign demand, export growth in 2008 was only 8 percent, and for many years before this was over 20 percent export growth rate. China's trade volume in 2009 decreased by 13.9 percent compared to 2008, which resulted in China's SMEs fatal blow. Pearl River Delta and Yangtze River Delta because of the export decline many SMEs have gone bankrupt. National bureau of statistic published "Study on Development of SMEs" in 2008, the research showed that in production and management difficult and very difficult to financing company accounted to 68 percent and 14 percent. Lack of funds was discontinued as the primary cause of business and the second cause of operational difficulties. While China and other counties in the world adopted a series of economic stimulus policies in 2009, which made the situation improved. China issued a 4 trillion stimulus policy, the capital mostly flowed to the large company, the SMEs benefit very little. This year inflation deteriorated, the central bank tightening of credit policy is gradually emerging, which is obviously not conducive to the development of SMEs. So the survival of China's SMEs is still in a delicate station, the financing problem is still significant.Although the majority of financial institutions have come to realize that the prospect of supporting SMEs, SMEs are also constantly strive to improve their corporate governance, sound financial management system, find the right financing channels, but these have not let the issue of financing of SMEs can be solved fundamentally.This article starts from the problem of financing SMEs, as Zhangjiakou city for example, through the experience of other countries taking positive and effective measures to solve the problem of financing SMEs, combines with the current situation and cause analysis in financing SMEs of Zhangjiakou city. The article attempts to make the theoretical analysis of the previous specific as possible, make some general recommendations to operational height, propose more operational sources of financing and then analyze its feasibility. On the basis of possibility, propose concrete ways, and then solve the problem of financing SMEs in Zhangjiakou city in the actual sense.