Our The Sme Property Rights Transaction Legal System Research

Since the implementation of the Reform and opening up policy, the Small and Medium-sized Enterprises (SMEs) in China developed into the important force in the national economic and social development. The SMEs, which are in large quantities and refer to various fields, not only promote the great development of China's economic, and make a great progress in employment of laborers. However, the SMEs start so late and vulnerable that there are many problems in the development. Especially, the financing of the SMEs has become the bottleneck which hinders the development of the SMEs, embodied: the lack in loans for a long period; the scale and proportion of are too low; Collateral single; imperfect of the financial products and bank services; the lag development of the small and medium banks which mainly loan to SMEs; the low level development of the capital market; the narrow channel the direct financing. To this end, Ministry of Industry and Information Technology issued in 2009"The inform regarding to carrying out a regional SMEs Equity market pilot project " , and determined to promote this project in Beijing, Shanghai, Guangzhou five provinces and cities, which is the clear basis for the SMEs to carry out various forms of equity, debts and equity exchange. It is the new measure that SMEs expand the financing channels and ease the difficulties in SMEs financing.The concept"property"and the theory"property exchange"are controversial topic, which has been discussed by many scholars at home and abroad. The theory of SMEs property exchange refers to many legal issues, there are such more important as: the SMEs asserts structure, the ways of SMEs property exchange, the SMEs exchange market and so on . So, at the beginning of the paper, the author mention the concept of property and property exchange, the theory and system of assert structure, law and economics analysis paradigm. Then the author defined the SMEs and introduced the character and the status of the SMEs and mentioned problems in the development of the SMEs. Then, in order to solve the problems mentioned above, the author using the method of Law and Economics to give some advices to perfect the system. At the end of the paper, the author summarized the basic theory and mentioned some unresolved problems.