Smes In China Listed Financing Model Is A Comparative Study

Since reform and opening-up over the 20 years, China economy has obtained the achievement which attracts worldwide attention, privately operated small and medium-sized enterprise.Regardless of from exportation bringing in foreign exchange income, the perfect market economy structure, increases the employment and the impetus economy walks strongly, it has become gradually promotes the national economy national economy prosperity development important strength. However, the small and medium-sized enterprise financing environment improvement speed far is lower than the small and medium-sized enterprise actually the fast development. Each place small and medium-sized enterprise fund demand big, the money market system imperfect and the control measure strengthening affected small and medium-sized enterprise financing. The small and medium-sized enterprise owns capital letter degree could not have achieved the bank loan the request. The small and medium-sized enterprise financing channel sole and so on the reason creates the financing supplies to be intense, finances difficultly to become the current hindrance small and medium-sized enterprise development the important attribute.At present, Small and medium-sized enterprise of our country selects most financing method is the bank loan and private solicits. But these two ways financing specified amount limited and the fund cost is very high. Meanwhile, that are unable to solve the basic problem that enterprises develop for a long time. Therefore, Very many small and medium-sized enterprises start to choose going on the market financing to solve finance the difficult question. Because China stock market murky and to be listed shell resources scarce, the farsighted medium and small entrepreneur's beginning casts sight on the overseas capital market. Compare through numerous foreign security markets, American security market becomes first-selected ground that numerous small and medium-sized enterprises are listed. The thesis analyses cause of U.S.A.'s listing financing of small and medium-sized enterprises. The article has summed up all current situation of securities China's concept share of trade market of U.S.A and has recommended listing regulations and law of American NASDAQ market and OTCBB market to require. Explained IPO is listed and gone public through buying a shell the theory of the financing mode and listing procedure. Through the method that is compared, the thesis has expounded the fact the first public publication is listed and gone public through buying a shell the quality of two kinds of modes. Through analyzing the condition that the small and medium-sized enterprises of our country which gets two kinds of suitable listing modes should be indispensable and has pointed out the question paid attention to in overseas listing financing of enterprise of China Mainland, offering U.S.A.'s listing standard and choosing the basis of complete one's own enterprise's construction for small and medium-sized enterprises.