Research On Supply Chain Finance Model And It's Credit Risk Evaluation Of Small & Midium-sized Enterprise

The status and function of Small & Midium-sized Enterprises (SMEs) in the development of economy and society is more and more widespread recognition. But SMEs still facing very seriously financing dilemma, which doesn't assort with it's contribution in our country's social development. Conform to the need of the new developmental situation, supply chain finance (SCF) emerges. Supply chain finance emphasizes the stability of supply chain, as well as the authenticity of the trade and the credit of the core enterprise. That's to say, supply chain finance assesses SMEs' risk from the perspective of supply chain so that more SMEs can be brought into the scope of Bank's services. As a new financing model, SCF is unique in solving SMEs' financing dilemma. So, it is necessary to study theories of SCF, and reveal its financing predominance and validity to improve SMEs' financing dilemma consequently.The thesis analyses the present situation of SMEs' financing dilemma with a great deal of investigation data. And find out that "information asymmetry" is the main reasons of financing dilemma, thus leads to SCF which can solve the problem of information asymmetry. Then, based on the analysis on connotation and characteristics, the thesis emphatically analyzes the operation mechanism of SCF's three main business models to clearly present the contour of the supply chain finance model. Then, evaluating SMEs' credit risk using multi-level grey evaluation method to highlights SCF's core concept. Finally, research the application of SCF in automobile industry and design its main business models. Case is also analyzed with multi-level grey evaluation method to highlight SCF's characteristics and advantages.On the combination of norm research and case study as well as qualitative study and quantitative study, the thesis finally reaches the research conclusion: in virtue of core enterprises' credit, third-party logistics' supervision and cash flow of real trade, SCF can greatly reduce the credit risk of financial institutions. So it can be an efficient and effective way to resolve SMEs' financing dilemma in China.