| I. Raising the ProblemLifting interest control, financial management mingling, financial operation unitization and financial globalization are the core contents of nowadays finance revolution. With the deep going of this revolution, the worldwide financial system is undergoing transformation, financial services are changing by days, financial setups are being adjusted, financial management concepts are changing and renewed. To meet the great trend of financial liberalization, globalization, multiple-management and net-operating, and to improve the international competitive capacity of banking service, a strong tide of mergence in the banking field has been striking the world since the mid 90s' of 20th century, which is followed by new ones. "Super-giant bank " comes into being one by one. They compete with the support of large-scale economy and powerful strength. This competition among banks is becoming more intense in a high level. In this background, the medium and small banks in our country are withstanding hard trials and the heavy burden of existence. On one hand, compared with the state commercial large banks, they take the inferior positions in capital scale, business net, electronic net operating as well as capital sources, assets disposition and credit insurance. This situation make their market become smaller and smaller. On the other hand, they also face the changes of "game rules" after joining the WTO, and the fierce strikes and challenges of foreign banks. Meanwhile, with the adjustment of China's economic structure, China's economy will finish its industrialization and step into the era of information. The medium and small enterprises in our country's economy are becoming more and more important. Presently, there are more than 10 million registered medium and small enterprises in our country, which proportioned 90% of the total authorized. The general outcome value and interest/taxes of medium and small enterprises proportion respectively 60% and 40% of that of the whole country. And more, they provide 75% of the total working positions in cities and towns. In recent years, every 150-billion export volume, the medium and small enterprises will take 60%. But, for various reasons, the development of medium and small enterprises in our country is facing great difficulties,of which, financing is the most serious one. This reflects in the reality that medium and small enterprises' external financing takes a small portion in the total funds. Their capability to get loans for their external financing from banks is comparatively weak. The times being refused often occur. The lack of finance support hinders seriously the development of medium and small enterprises. They are forced to seek private loans, high interest loans and other channels. This creates the so-called "Gray Finance Phenomenon". A great deal of research work made in recently years shows that, concerning the relations between enterprises' credit and banks' business scale and structure, medium and small banks are taking advantages over large financial setups in the aspect of information service for the medium and small enterprises. They are more willing to finance the medium and small enterprises (Berger and Udell 1995). There exist strong adverse-trend relations between banks' loans to medium and small enterprises and banks' scale. Concerned positive researches on getting soft information of medium and small enterprises when banks give credits, on providing party loans which medium and small enterprises rely on, and on the geographical distances between banks and enterprises, all support the hypothesis that in the financing problem of medium and small enterprises, there does exist "Large Bank Obstacle"(Berger and Udell 2001). These theoretical researches bear important directive significance for the financial reformation of our country. The theoretical circle also takes the viewpoint that the over concentration of financial assets in large banks is not favorable to the financing of mediu... |
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