Financing Innovative Smes Under The Asymmetric Information Conditions - Credit Guarantee System

Since reforming and opening to outside, the development of Small and Media-sized enterprises, an important part of national economy in our country, has made a great of progress. But many problems in limiting their development still exist Among them, the striking problem is financing. The system of credit guarantee for small and medium-sized enterprises in western countries has developed for more than one hundred years and accumulated a lot of experiences. While how to build Small and Media-sized credit guarantee system is a new topic to our country.In this article, we demonstrate the economic principle about the emerging of credit guarantee system in the view of the Economics of Information. That is, the mechanism can automatically adjust the market by improving the signal mechanism of the market by improving the signal mechanism of the market and modifying asymmetric state of the market.In this paper we deeply analyze the characteristics of our country's SMEs, compare the characteristics of credit guarantee systems with other countries, and present the suggestion about establishing a sustainable credit guarantee system for SMEs in china.SMEs credit guarantee is a high risk industry. One of the main financial risks of credit guarantee system comes from SMEs. In chapter four, we analyse the origin of credit risk, and present the suggestion about credit risk preventionWe believe the most effective measure to prevent credit risk is to evaluate SMEs' credit index in time. In chapter five, credit evaluating index system is built, and how to evaluate SMEs through Fuzzy Comprehensive Evaluation is expatiated.