The Research Of Supply Chain Finance Based On The Financing Of SMEs

Since reform and opening policy, the development of the SMEs in China has been booming, and has become a strong driving force and source of vitality of the whole economy. However, for SMEs, compared to its contributions to the economic, its ability of obtaining financial support is not matched. Many SMEs are faced with financial difficulties, and the banks'credit funds, which is regarded as an important source of financing for SMEs, are often unable to meet the needs of business and development. Although the small and medium enterprises as a whole is a strong business community, and is playing an important role in the national economy, it is weak when specific to the individual. Standing on the supply side of the capital-the banks'viewpoint, although the SMEs market is a huge market with full of potentiality, it is also a high risk market. When facing an opaque financial information, and the credit applicants who are lack of collateral and may collapse at any time, the traditional means of credit products and risk control look pale and weak. SMEs credit market is in the urgent need of the innovation of financial products and service model.Supply Chain Finance (SCF), as a new financial service of the commercial banks, comes into birth, and has already become a new important business point of the banking growth. Supply Chain Finance is unique that it breaks the traditional limitations of the tradition, and reaches the height of global supply chain, uses of "buy" type of development model and innovation of risk control technology, to supply systemic financial services for the whole chain or a certain period of the chain. The innovations of the Supply Chain Finance are in the risk control technology, which is based on the logistics, capital flow and information flow in the supply chain, which take advantage of properties or rights in the production and trade of movable in the supply chain, and make the credit of the core business extend to the downstream of the businesses, which opens the financing door for all the companies of the supply chain. Supply Chain Finance provides a new way to address the financing difficulties of SMEs. In the credit market, banks play the role of clients, while the SME the role of agents, the two parties control the different information resource, which leads to the information asymmetry. Information Economics shows that asymmetric information in the credit markets eventually leads to the SMEs' financing problems. Compared with the phenomenon that the traditional credit model did nothing to solve the problem of asymmetric information, the success of the supply chain financing is that it can effectively reduce the level of the asymmetric information between banks and SMEs, by acting on the information to the help the SME to finance. Supply Chain Finance opens up the financing channels for the SMEs in the process of eliminating asymmetric informatio. Based on the analysis of this issue, starts from sorting out the main financial participation, basic products and the mode of operation, the supply chain gets the conclusion that the supply chain finance is not only a innovation of the mode of financing products and services, but also a innovation of the credit technology. Through the integrated use of innovative credit technology, supply chain finance credit broadens the channels of information transfer between banks and enterprises, enriches the type of information transfer and improves the efficiency of information transmission, so as to effectively mitigate the information asymmetry between banks and enterprises, and increase the feasibility of the SMEs'access to finance.