Research On The Problems And Countermeasures Of Credit Finance For SMEs

Along with the continuous deepening of economic reform, China's SMEs are playing an increasingly important role in the national economy. However, over a long period,the funds the SMES have obtained could not match up their important role in the national economy, which has become a serious factor to restrain the development of the SMES.Since the implementation of tight monetary policy in 2007,the issue of SMES finance has become a focus ,and also how to resolve the financing difficulties has become a common concern of the government, enterprises and researchers.So the paper is focused on the credit financial problem which is a key factor to restrain the development of SMEs. Credit finance has played an important role in the SME finance,which are caused mainly by four factors: firstly , adverse selection and moral hazard caused by asymmetric information between the banks and the enterprises are major reasons; secondly, high operational risks and imperfect financial system are internal factors of the credit financial issue; thirdly , the lack of effective credit guarantee capacity caused by SMEs credit defects is also an important factor;and finally ,the imperfect financial system ,the lack of small and medium-sized financial institutions for SMEs made it difficult to meet the needs of SMEs credit funds.The last part discusses the building of the financing system for SMEs,which includes the construction of the credit system, the supply system and the guarantee system of financing.