| International economic community generally believes that SME is the most important part of the 21st century world economy. SMEs also have the most vitality in our economy, the development of which plays an increasingly important role in ease pressure on employment, and technological innovation, and ensuring growth of the national economy. However, financing difficulty is regarded as bottleneck of the growth of SMEs. Since 2008, the worldwide financial crisis makes the financing situation of SMEs harder than ever. Therefore, research of the financing of SMEs is equipped with important practical significance and theoretical significance.This paper introduced for SMEs as defined and reviewed the financing theory of SME-specific basis. We found the current situation of SME financing by the way of the financing channel and the financing efficiency. We analyzed the financing efficiency and drew a conclusion of financing order. Then found asymmetric information, mortgage-backed difficult issues, China growth enterprise market regulatory difficult problem and a great influence of macroeconomic environment. In response to questions, the paper from SMEs themselves, financial institutions and regulatory policy analysis of three respects reasons. Learn from the United States, Japan and South Korea experience, based on our national conditions to solve the problem.We have to not only strengthen financing capacity of SMEs themselves but also create a favorite external financing environment by a positive attitude towards the Chinese government. Meanwhile, we should build up multi-level financing system including the banking and financial system, capital market system and the non-formal financial system. In particular, some new financial instruments, such as collection note for SMEs, going into the financing system. Trying to establish small enterprises credit union as an important part of non-informal financing system enterprise the financing capacity of small enterprises. |
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