Analysis Of Smes’ Credit Financing Under Information Asymmetric

The important role of motivating the development of the national economyconstantly, absorbing the majority of social employment and promoting the innovationof science which SMEs play made it an intergral part of Chinese economy. Itconstitutes the real leading force in the marketing economy.However, comparing tothe tremendous contribution it made to the development of our social economy, SMEsare hard to share the financial resources impartially. The financing difficulties are theprominent obstacle to its growth all the time.Indirect financing is the most important channel to SMEs external financingrecently, and the main channel is credit financing through financial intermediary inindirect financing, so in order to reslove the financing difficulties, the paper isresearch on bank loans which is the main channel of indirect financing, and the paperis based on the analysis to the cause and effect of the information asymmetry which isthe root of limiting the SMEs financing in credit market. After that, as a supplier incredit market, the paper explains that the bank who must consider the principle of themanagemental security and profit and the problem of institution itself would make theSMEs being limited under the condition of information asymmetry. Meanwhile, withthe caculated results of questionnaire survery, the influence brought by various ofaspects was analyzed empirically. At last, the paper puts forward some correspondingpolicy and suggestion to ease the situation. For example, work to institute and perfectthe modernized management system and credit guarantee system of SMEs need to beaccelerated. We should promote the development of small and medium-sized financialinstitutions and the innovation of the Lending Technology in the areas of SMEs.