Study On Financing Capacity Of The Small And Medium Sized High-tech Enterprises In China

In order to have a strong competitive advantage and international market place, more and more countries view the development of science and technology as the first task. As China has joined WTO, we are more and more involved in international economic and trade activities. Under the guidance of "education"strategy, people pay more attention to the development of science and technology. Chinese government introduced a variety of related policies to support the development of high-tech enterprises. They are becoming the backbone of promoting national economic development.2000-2011, China’s high-tech industry output is from8.2375trillion to1.0411trillion, with an increase of22.98%, in2011the output grows by20.2%over2010. The number of high-tech companies grows at a fast and steady rate, in2000-2011, the number of high-tech enterprise by the9758increased to28,891, with an increase of11.46%. High-tech enterprises not only improve the country’s GDP but also creat a lot of employment opportunities, attracting talented people from various countries. Small high-tech companies as a constantly growing group in high-tech enterprises will become the main force in the future, it’s natural we should pay more attention to its development.As small and medium high-tech enterprises is in its infancy, the problems have been exposed in the development. Because of their own small accumulated, capital demand, so the first problem is financing. Due to lack of efficient financing channels, many projects with good prospects is difficult to achieve, resulting in a large number of high-tech project was shelved. These financing difficulties are caused by a various reasons, such as not standardized corporate management, faced with market risks, technological risks and many other uncertain factors.In this paper, with the basic theory of financing I selected small plates as the research object, trying to empirical analysis from both quantitative and qualitative impact on small and medium sized high-tech enterprises to find major factors of finance. Only to find the key factors can we identify the direction to improve financing environment which suites to China’s actual situation of financing. It has an important significance to China’s rapid economic development. Finally, internally and externally proposed to solve financing difficulties.