Study The Problem Of Financing Of Private Technology Enterprises

Hitech non-state bussiness, the result of China抯 reform, represents the mostadvanced productivity and the most energetic mechanism, furthermore, it is playingan important role in industrializing high techologies.As a leading force in China抯 Knowledge Economy and a new growth point,hitech non-state bussiness takes on increasing influence on providing employmentand the reform of state-owned enterprises.However, hithech non-state bussiness has been growing up in an adverseenvironment, which keeps being a constraint to its futher development.This article places emphasis on financing barnes of hitech bussiness, and it tryshard to prove that, financing in debet is unfit for hitech nou-state business in ourmodle because of its feature of High Risk, High Growth and High Returns; On theother hand, aiming at serving state-owned enterprise, high cretia of China抯 SecurityMarkets in Shanghai and Shenzhen makes it impossible to resolve the financialproblems of hitech non-state bussiness. Therefore, a new financing mechanismshould be created to meet the requests of hitech non-state business.This article brings forward two resolutions, to develop Venture Capitals and toestablish Second Board Market.