The Research On The Legal Issues Of Small-and-medium-sized Enterprises

Throughout the SMEs’development in China at the present stage, although the overall situation is good, there are still many problems in which the primary one comes from the restricting of financing. Therefore, China must improve the capital market and take efforts to develop multi-channel financing and diversify financing channels to help SMEs’ development.For a long time, bank financing has been the most common way of the main form in China’s SMEs’financing. However, the banking system’s inherent ills, which resulting in the financing of SMEs can not be resolved timely and effectively. In this paper, I will firstly analysis the current financing difficulties in legal system from a political point of view. Then, I will propose some practicable solutions based on improving the legal system in the credit facility, also on reforming and innovating the country’s financing policy.Secondly, as the development of China’s bond market is in its infancy, we must find out the features and problems of our own bond market by learning from the advanced experience of foreign bond market and comparing it with the reality of our country, so that we can realize the feasibility and necessity of developing China’s bond market and put forward and legal measures of improving China’s bond financing market.Thirdly, the necessary way of the development of China’s security market is to build multi-level stock markets. In this paper, I will analyze present situation of Chinese stock market by comparing it with western countries’multi-level stock markets to point out the legal problems in China’s equity financing market from two aspects:the qualification of financing body and the system of financing market. In the end, I will put forward some legal measures to improve equity financing market.Finally, explore a way to develop multi-level stock market in corresponding to China’s actual condition.