An Empirical Study On The Financing SME Clusters In Qingdao City

After the reform and opening up, China has entered a rapid stage of development of small and medium middle enterprises (SMEs). In addition to the state-owned enterprises, they have created a new economic growth point. However, the financing problem has been around so many SMEs. Due to the small size, the weakly guarantees, weakly anti-risk capability, the major domestic commercial banks do not give loans to SMEs. So, they can only rely on their own strength to obtain funds for business survival and development.The mainly reason of the difficulties of financing of SMEs is due to asymmetric information. So, it cannot do an effective communication of information between banks and enterprises. And the SMEs are unable to provide effective security measures. In the industrial cluster, more transparent flow of information can be known between enterprises. The enterprises can master effective flow of information within the cluster, it can solve information asymmetry between banks and enterprises.The way of mutual guarantee provided by the cluster can solves the problem of insufficient power guarantee. Therefore, the way of mutual guarantee becomes a new way to solve the financing difficulties of SMEs within the cluster.At the beginning, the article analyses the differences about financing between China and America’s SMEs. Then, we create a new model of financing-the industrial cluster financing in China that is based on conventional ways. In the end, we take the cluster financing of Qingdao at example to be an empirical analysis. We want to know whether the industrial cluster financing has a positive effect or not for solving the problem of SMEs by applying the time series model.The empirical analysis of the results showed that:the development of industrial clusters has not yet brought about a relative increase in the proportion of bank loans, but it has a positive effect on the volume growth for loans. The development of industrial clusters has also led the entire amount of bank loans growth, which eases the credit rationing problem of bank.