| Small and medium-sized enterprises (SMEs) of Thailand, Malaysia, Indonesia and Philippines have developed rapidly in the recent 30 years, but they are also facing the global question: financing difficulty, the fund shortage already becomes the "bottle-neck" blocking the development of SMEs in ASEAN-4. Therefore, the four governments made a lot of policies to support the SMEs financing according to their own economic and social development characteristic, and alleviate SMEs financing difficulty to a great extent. The author attempts to study their practice, outcomes and problems in this area, maybe we can get help from their experience.This thesis, which is based on the achievements of the other's related research, starts from the development history and present situation of SMEs in ASEAN-4. Using accurate data information, the author analyses the financing mode and feature of SMEs, and then indicates the reasons of SMEs fund shortage. Secondly, we discuss the government policies and measures to support the SMEs financing, sum up the effect of those measures and point out the shortcomings of the government policy. The reference of SMEs financing in ASEAN-4 to China is the final aim of this thesis. We conclude the experience and lessons of SMEs financing in ASEAN-4, try to get some useful suggestions to solve the SMEs financing gap in China. For example, when our country sets up the credit guarantee system, we should draw lessons from Philippines and Thailand, we must insist the market-oriented operation, and determine the risk sharing proportion reasonably between government and bank. The government should establish special agency to supervise and appraise the measures' implementation after launching the SMEs financial promotion plan. Otherwise, even the best plan will pause in the documents. According to the successful experience of Indonesian micro-credit, the organization design of small and medium financial institution should draw close to small and medium-sized enterprise itself. |
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