The Research On Guangdong's Small And Medium Enterprises Financing System

After thirty years of reform and opening up, small and medium enterprises have made great contributions to Guangdong's economy, they not only provided most of the jobs, created the lion's share of GDP, but also shared a significant part in technological innovation, foreign trade, tax paid and so on. In the context of economic structure adjustment and transformation of economic development, small and medium firms will play a dominant role. But the problem of financing has been the bottleneck to the healthy development of SME, the solution to financing of SME is to improve and perfect small and medium enterprises financing system.By analyzing the characteristics of Guangdong's SME financing system, it can be found that, private lending is active and non-formal finance play an important role in meeting the financing needs of local SME. Formal financial institutions provide fewer services to SME, mainly limited to the credit business and RMB business, and loans to SME are just a few. In 30 years of reform and opening up, Guangdong's capital market is growing up with the development of Guangdong's economy, by December 16, 2010, there are 124 listed companies in the SME board in Guangdong Province, accounting for 23.8%. After nearly a decade of development, the Guangdong's SME credit guarantee institutions system has begun to take shape, by 2012, Guangdong will build a sound credit guarantee system for SME.However, there are defections in Guangdong's SME financing system function. By its own scale and organizational forms, most of the private capital is lack of supervision, private lending risks. Although the relationship between commercial banks and small and medium enterprises improved slightly, but because of historical and objective reasons, the marginal position of SME in the credit markets has not been fundamentally changed. The development of small and medium financial institutions is insufficient, Guangdong is not in shortage of big banks, but lack of small and medium financial institutions that close to small and medium enterprises. By the impact of barriers to enter the capital markets, SME that can meet the conditions for direct market financing are primarily with high technology and large growth potential, they are just a fraction of small and medium enterprises. Although the current system of credit guarantee institutions in Guangdong Province began to take shape, but it did not play its due role in addressing the financing problems of SME.By analyzing the Grameen Bank's business model and financing system for SME in Japan and the financing model, with Guangdong's actual situation of SME financing system, we can get the strategies and suggestions of improving Guangdong's SME financing System. First, construct small and medium sized financial institutions system that match the SME, regulate and guide private finance, cultivate diversified financial institutions, increase the intensity of the commercial banks to meet the financing needs of SME. Second, innovate the way of direct financing for SME, establish and enrich a multi-level capital market system. Third, establish a sound credit evaluation system for SME, innovate security model, improve security system. Finally, increase government's efforts to support SME.