Research On The Credit Product Innovation Of Small Dan Medium Enterprises

Small and medium enterprises (SMEs) have made a great contribution in the development and transformation of the world economy. The small and medium enterprises in our country also play a big role not only in the growth of GDP but also in that of employment as their proportion increase. Especially nowadays when the domestic economy growth slows down in such an unstable global environments, the stable and steady development of small and medium enterprises means a lot for the safety and stabilization of political and economic conditions, particularly the money market. In the march of2012, Wen Jiabao, the Prime Minister officially raised the issue of helping the small and medium enterprises develop. But the deficiency of small and medium enterprises themselves and some shortcomings of the whole system restrict their further development with the widespread problem of short of money and hard to get.Many experts and scholars began to pay attention to the financial developments of small and medium enterprises since the first fifty years of last century and form lots of theories from different points of view. There are the contract theory of finance agency, the symbiosis theory in finance, the agency cost theory and so on. Some of them have been used as reference for the small and medium enterprises financing.As the information technology gets more involved in the financial system after the reform and openness, the innovation activities of credit products in our commercial banks become more vigorous. Many commercial banks take great measures to strength their abilities of developing new products so as to make the best of their resources, enhance competitiveness, reduce managing cost and enhance risk resisting capabilities. There comes so many SMEs credit products as "1+N" new SMEs loan model from the Shanghai branch of China Merchants Bank(CMB), commercial loan based on advanced money from Shanghai Pudong Development Bank(SPDB), trade finance program based on core enterprise and node SMEs from Shenzhen Branch of Industrial and Commercial Bank of China Limited.(ICBC),"ShangdaiTong" product from China Minsheng Bank (CMSB),d E-bank "FengxianChi" product from China Construction Bank(CCB) and so on.Qilu Bank’s first innovative credit products "Changshang Yin" business started in2003and followed by another ten more business innovation such as warehouse receipts pledge. But it’s later than some other commercial banks with a weaker base. It becomes an important program to make innovation strategy, set up innovation model and develop innovation ability for Qilu Bank.This article take Qilu Bank as an example, take a deep look at commercial banks’ SMEs credit products innovation from point to surface. First, introduce some related concepts and the environments of credit innovation and then analyze the supply and demand; ensure the necessarily of doing it linking the condition of Qilu Bank; analyze the clients group considering the development strategy and market positioning and propose the innovation train of thought using other advanced bank’s innovation experience.