Analysis Of SMEs' Indirect Financing Problem In China

During the economic developing all over the world, no matter the developed countries or the developing countries, SMEs(Small and Median Enterprises)always play an important role which large enterprises can not compare with. It is because SMEs have flexible mechanisms, indomitable vitality and have advantage in flourishing the market, expanding employment, technological innovation and system innovation. SMEs also take effect in our country's economic operation, such as creating job opportunities and optimizing and adjusting the industrial structure. Its developing has become a focus of public attention.Now the biggest difficulty in China SMEs'developing process is the problem of funding. Therefore, researching how the SMEs get the fund via the way of indirectly financing has very important realistic meaning. This dissertation analyzes the problem of hard to get indirectly financing in China using the method of measure model and case analysis. It also use foreign experience and methods for reference to discuss the policy and measure for solving the problem, especially the effect which the social credit management system, financial management system and the SMEs itself should take.This dissertation can be divided into five chapters:ChapterⅠmentions the standards which our country and the foreign countries distinguish the SMEs and give definition to SMEs, observing the recognition process of the problem of SMEs indirectly financing in theoretical study.ChapterⅡvia describing the needing characteristic of SMEs and the status quo of our country's indirectly financing, explaining the problem which existing in the process of indirectly financing.ChapterⅢusing the simple maths model and games model via the converse choice caused by asymmetric information of adverse selection and moral hazard aspects to analyze the existed problem by economics method. We also explore the external environment of indirect financing of SMEs and the enterprises themselves limitations.ChapterⅣexpatiates the ways which foreign countries use for helping the developing of SMEs and enlarging the channel of indirectly financing. From among we can reward the experience and inspire which may be good for our SMEs.ChapterⅤon the basis of the difficult situation and the reason of indirectly financing, using foreign experience for reference which the previous text discuss before, finding the conclusion that we should make efforts in four aspects below: The government should build a social credit management system, commercial bank should enhance its management on SMEs, the government should energetically develop small and medium financial institutions, and SMEs should promote its building.