Research On The Indirect Financing Of SMEs In Jilin Province

SME financing has been a topic of concern to the theoretical circle. In recent years, the real bottleneck of financing of SMEs in China makes it become a hot discussion issue to scholars and policy makers. In recent years, the rapid development of private economy in Jilin Province, especially represented by the development of small and medium enterprises, has played an active role to promote the revitalization of old industrial bases, and to further optimize the industrial structure. However, the problem of financing has become an important factor which constraints the development of SMEs in Jilin Province. Not only due to the small size and low credit rating, small and medium enterprises is hard to get lending from commercial banks to solve it's financing problem, but also situation in the relatively backward provinces of Jilin Province, such as the central economic strength, the concept of institutional reform and human factors makes SMEs Financing problems become even more special, representative and more difficult to solve. This article will start with the definition of SMEs, based on theoretical analysis of SME financing in Jilin Province, facing the analysis of indirect financing issues to discuss measures to solve the financing problems for small and medium enterprises in Jilin Province. This is not only meaningful for the promotion of the rapid growth of small and medium enterprises in Jilin Province,but also has great significance for the solving of SMEs financing difficulties in other regions.Papers indirect financing to small and medium enterprises in Jilin Province as a case, using empirical research and normative study of the combination of small and medium enterprises from China's current definition of what is starting, and then the existence of small businesses conducted a theoretical analysis points out the important role of SMEs and social effects of analysis of the financing channels for SMEs and efficiency, combined with loans to SMEs in Jilin Province, is in effect financing, and policy-oriented financing to conduct an empirical analysis, financing difficulties for SMEs conducted a careful analysis, from a macro and micro level, small and medium in Jilin Province Enterprise indirect financing proposals put forward countermeasures study pointed out the Jilin Provincial Government should continue to increase government funding to support efforts to increase the SME Promotion Fund, and actively promote the reform of the financial system, vigorously develop small and medium financial institutions, to improve the credit environment in the province, while the Jilin provincial banking sector should continue to deepen reform and the establishment of professional franchise small business credit institutions, to develop credit management system for small and medium enterprises and development of corresponding products, Jilin Province, small and medium enterprises should improve their own corporate governance structure, regulate the financial system, strict observance of good faith; Jilin Province should vigorously promote the security system and security system of their own innovations, and constantly perfect the security company's capital to establish a compensation mechanism.Papers were divided into four parts, the first for SME development and financing of the basic theory for the full text of clear research object, the object of research there is the theoretical basis and the important role that exists in reality an overview of proposed indirect financing as the main SME Financing channel.. First of all, the definition of standards for SMEs in the beginning, through the small and medium enterprises at home and abroad enterprises are defined by the standard comparison and analysis, put forward to re-build the vision of SME standards, from an emphasis on industry-wide coverage, the independence of enterprises, as well as divided Micro-enterprises are given recommendations. Secondly, the paper the application of economic theory of evolution, incomplete market theory, economies of scale theory, industrial division of labor theory, transaction cost theory and other theories of the existence of small and medium enterprises carried out theoretical analysis, pointed out the existence and development of small and medium enterprises theoretical basis. Third, the paper with the actual development of small and medium enterprises, at home and abroad, from SMEs to solve the employment and promote economic growth and technological progress, and enhance market efficiency in three areas, revealing the importance of SMEs in national economic development status and social effects. Fourth, the thesis of financing for SMEs direct and indirect financing channels for an overview, pointing out the advantages and disadvantages between the two, in order to continue to expand the current small and medium enterprises in Jilin Province pointed out the direction of indirect financing.The second part of Jilin Province An Empirical Analysis of loan financing for SMEs, research papers on the status of the development of small and medium enterprises in Jilin Province and financing an overview of supply and demand situation, difficulty in obtaining loans for small and medium enterprises to conduct in-depth analysis. Papers start with the development of SMEs in Jilin Province overview start to reveal small and medium enterprises in Jilin Province in the local economic development in the important role of SMEs in Jilin Province also pointed out the number of enterprises and small in scale, management, and credit concept is flawed indifferent and other development constraints. Papers on the supply of loans to SMEs in Jilin Province carried out a brief overview, through a large number of data indicate the province in the current status of SME lending is difficult to reveal the one hand, SMEs play an important role in the national economy, but on the one hand is the Banks unable to obtain a reasonable loan demand asymmetry in the status quo. Papers turn to the financial system, the disadvantages of SMEs in their own shortcomings, and in reality bank management system in three aspects of the problem in getting loans for SMEs in Jilin Province conducted in-depth analysis and recommendations for the next step basis.The third part of the financing of SME policies in Jilin Province empirical analysis, papers from a policy-based financing in three main areas:fiscal policy, special funds and risk compensation and policy guarantees, the policy on the financing situation of small and medium enterprises in Jilin Province to conduct introduced. Papers from Jilin Province to support small and medium enterprises preferential policies to write off bad loans, tax incentives and loan interest subsidies to the system of specific description of the province's fiscal and taxation policies to support small and medium enterprises. Meanwhile, the paper also increases the development of SMEs in Jilin Province on the current special funds and risk compensation fund for the situation are introduced. Since both the fiscal and taxation policies and special funds, venture funds of its coverage of SMEs in the lower, in practice, and not all the benefit of all enterprises, thus building a security system, it appears that the policy is particularly important. Policy paper on building a security system and to conduct research and analysis of the Jilin Province, the security situation and problems of policy are described in turn from the policy of the enabling role of credit guarantees, credit to add features, security, and other claims noted in three areas to build small and medium enterprises in Jilin Province policy-oriented credit guarantee system for the active role.Part IV is divided into small and medium enterprises in Jilin Province indirect measures and proposals for financing. Papers from the micro-and macro-level, two recommendations. First, from the micro level proposed, Jilin Province, one small and medium enterprises within the company should continue to improve the governance structure, to improve their own quality and credibility, the second is to speed up product innovation and development, restructuring of banks in lending to SMEs to enhance the confidence of investment in three to actively seeking new financing channels for enhanced funding. The banking industry in Jilin Province should establish specialized credit franchised agencies, from the standardization of building a small enterprise business processes, establish a dedicated customer rating and evaluation of the implementation of specialized credit approval system, strengthen management and enhance business loan pricing and other aspects of assessment for small businesses to establish an efficient scientific credit management system at the same time we should vigorously promote the development of SMEs needs for product innovation and mechanism innovation. MIGA guarantee system should be built from its vigorous push to improve its capital guarantee compensation mechanisms continue to work hard. Second, from the macro dimensions of the Jilin Provincial governments at all levels should continue to increase government funding to support efforts to increase the SME Development Fund, more importantly, is to promote the financial reform, the establishment of small and medium banks start with a reasonable distribution of the financial system. At the same time, governments at all levels should intensify social advocacy efforts to promote the establishment of social credit system, and guide enterprises to credit management; to continue to improve the social service system, strengthen basic services to SMEs.