The Research On Financing Problem For Privatized SMES In China

China's small and medium sized enterprises (SMEs) experience a long-termed growth, since china's opening and reform policies were adopted. They have played an active role in enlarging employment, promoting technology progress and maintaining a healthy and steady economic development. However, financing problem is troubling most of China's SMEs because of their own draw backs as well as the imperfection of financial market. To solving the problem, it's compulsory to eliminate information asymmetry of small and medium-sized enterprises to consummate credit guarantee mechanism so as to shrink effectively financing gap of SMEs and promote their development.The thesis briefly explains the theoretical foundation, summarizing the characteristics of SMEs'financial structure. Based on the classic S-M model, it analyzes the difficulty on SMEs exterior financing through the games model between SMEs and bank. Finally, it provides the way to alleviate the SME financing difficulty mainly form the point of eliminating information asymmetry.