Wei Enterprise Indirect Financing Legal System Research In Our Country

Small Micro Enterprises are not only the concept of law and economics, but also the concept of how to divide them by their scales in practice. At the same time, Small Micro Enterprises are also the concept of relative change: on the one hand, because of the different national conditions, Small Micro Enterprises are defined differently in different countries. On the other hand, as the economy continues to develop, the definition of Small Micro Enterprises in the same country is advancing with the times. Small Micro Enterprises are important force of our national economy and social development; make significant contributions in the development of national economy. Promotion of the sound and rapid development of Small Micro Enterprises is an important foundation to maintain stable and rapid economic development and a major strategic task of the people’s livelihood and social stability.In recent years, the problem of financing of Small Micro Enterprises has been the focus of one of our government, institution, corporate, media and other organizations. Banking institutions account for29.3%Small Micro Enterprises loans of the balance outstanding loans as of the end of August2011. But this does not mean that the funding needs of Small Micro Enterprises is not high, in the second half of2011National Bureau of Statistics sample survey of38000Small Micro Industries business conditions showed that only15.5%of Small Micro industrial enterprises access to bank loans. The money of institutions has nowhere to be loaned, but Small Micro Enterprises could hardly get the loans. This has been caught in a vicious cycle of supply and demand.To start with the legal definition of Small Micro Enterprises, the approaches and contents of definitions of our domestic and typical foreign countries’ laws are described and analyzed. I further elaborated the status of the legal definition of the indirect financing of Small Micro Enterprises in China and indirect financing, and there are many reasons for Small Micro Enterprises financing status quo: from its own point of view, the general characteristics of Small Micro Enterprises leading to its long‐term financing transactions in a weak position, and they face with the difficult predicament of obtaining loans from financial institutions and paying higher financing costs; from its external reasons, I selected the basic legal system, the commercial bank loans, the small loans, the online intermediary loans and the finance leases and analyzed them from the legal point of view. In recent years, under the influence of the financial crisis and the debt crisis in Europe, the financing difficulties of Small Micro Enterprises have become a global common problem. The brief analyses of the indirect financing of Small Micro Enterprises legal systems in the United States, Japan, the European Union, Singapore and Malaysia are included in this paper, and I proposed a series of policy proposals which is fit in China’s national conditions. At the same time, China should further improve the SME Promotion Law and enact the Basic Law of Small Micro Enterprises as soon as possible. Furthermore, China should regulate the indirect means of financing and make them lean to the financings of Small Micro Enterprise under the premise of adhering to the five guiding principles. In addition, the several ways of indirect financings involved in this paper need to be improve. I propose that China should improve the banking financing system, promote the Small Micro Enterprise credit system, regulate and support small loan companies, explore the construction of Small Micro Enterprises credit guarantee system, recognize and regulate the online loan intermediary platform, and improve the legal system of finance leases,in order to protect the legitimate rights and interests of Small Micro Enterprises in the indirect financing activities, create a free and fair financing environment for Small Micro Enterprises’ development, promote the healthy development of Small Micro Enterprises financings, make Small Micro Enterprises adapt to the changing financial operating environment, and achieve better economic and social benefits.