The Technology-based Small And Medium-sized Enterprises In Our Country The Research Of Direct Financing

Since world financial crisis in2008, China’s economy started to transform economic growth mode giving priority to "adjusting structure and keeping the growth", and promoting the healthy development of the numerous small and mid-sized enterprises is the important way to realize the strategic adjustment. This thesis is to state that the effective way of acccelerating the transformation of economic growth pattern is supporting strongly and advancing vigorous development of small and medium-sized S&T enterprise from the powerful driving role of technological revolution to the society and economic development and the current background of China’s building the innovative country. Small and mid-sized enterprises are generally faced with direct investment barriers, and then the thesis is to set forth the relevant theories of enterprise financing,define the basic concept of small and mid-sized enterprises, elaborate the main characteristics of small and medium-sized S&T enterprise, financing demand characteristics and the advantages of choosing direct financing ways. Afterwards aiming at the main ways of direct financing,the paper probes deeply into the practical situation of China’s small and medium-sized S&T enterprise’s direct financing ways and focuses on detailed analysis of the ways of listing and financing, bond financing risk investment financing and financing, especially the timely research is given aiming at the newest small and medium-sized enterprise private placement bond and new tertiary board flash and a case study is made on the financing process of Han’s Laser Technology Co., Ltd Finally it proposes the countermeasures of improving direct financing ways of China’s small and medium-sized S&T enterprises including reforming the system for issuing new shares, establishing small and medium-sized S&T enterprise issuing debt information sharing system making small and medium-sized S&T enterprise bond credit rating system perfect, creating risk investment good investment environment and system environment, paying attention to and promoting the development of the "angel investment", cultivating professional risk investment services company and accelerating the development of new tertiary board market, etc on the basis of full grasp of the specific situation science and technology.