The Case Study On DaLian SMEs Collective Bond

Small and medium-sized enterprises (SMEs) are an important part of market economy in our country, which have made great contribution to our country’s economic construction. But financing difficulties hindering SIMs continue to grow. The collective bond is a financial innovation to solve this problem, which makes the SMEs can financing from the capital market directly. But in practice, there are some difficulties, such as difficult to find the Guarantors, the high cost and long time spend before issue.This article briefly introduces the development of SMEs collective bond and the issue details about DaLian SMEs collective bond. Then make a comparison of the operating performance between before and after the issue of the collective bond to analysis the impact of the bond. After the collective bond, the collective bill and the private placement bond are invented to help the SMEs financing from the capital market. They are different in some aspects, such as the supervision department, the issue conditions, the cost of issue etc. they are more supplement of the collective bond than take the place of it.The healthy development of the collective bond needs the cooperation of every part involved in it. In the aspect of government, it should pass laws to standardize the flows of issuing, lower the requirement and simplify the procedures. Intermediaries should develop themselves and invent the suitable ranking method for the collective bond. The enterprises should improve the management and join in the capital market actively.For lacking of time and ability, the research on this topic is not sufficient, the research next can analysis the impact on the company which have issued the collective bond to find out what kind of enterprise is suitable for this kind of financing method.