Research On The Innovation Of Sci-Tech Credit Product

As the mainstay of scientific and technological innovation, science and technology-based small and medium-sized enterprises (Sci-Tech SME) compared with ordinary SME has the characters of light asset and high growth. Because they are faced with more uncertainty in such aspect as technological transformation and market development, and the financing difficult problem becomes more prominent. At present, China has not yet formed a multi-level and multi-dimensional capital market structure, the listed threshold of GEM and SME board is high, the development of OTC market is relatively lagging, the exit channel of VC and PE is not smooth. To some extent, these restricted the SME’s enthusiasm to seek the direct financing in the capital market. So with the aid of indirect channels, especially the innovation development of the credit business of commercial bank is an effective way to solve the financing difficulties.Through the investigation of Sci-Tech credit business in Binhai New Area, this paper shows the process of business innovation is speeding up and the emerge of innovative product is endlessly. It reliefs the hungry of business capital partially, but still faces a series of problems which restrict the development of the business. The condition deviate from the equilibrium of fund’s supply and demand in the credit market, failed to achieve efficient allocation. Driven by enterprise demand, bank competition, policy support and information technology, Sci-Tech credit product innovation will continue. Based on the summary of existing product operation mode, this paper expends product innovation from the horizontal and vertical dimensions. In the horizontal dimension, the bank can consider introducing insurance mechanism to improve the risk-sharing system. In the vertical dimension, banks can consider to cooperate with network platform, in order to take the advantage of the big data to obtain more real enterprise credit.For the continuous innovation of Sci-Tech credit products, the core problem is how to balance the risks and benefits for the bank. Traditional loan pricing models are not suitable for Sci-Tech credit products pricing, this paper uses relational credit pricing method and regards rental incomes as a call option whose value can be measured by Black-Scholes formula. When considering the benefits for both banks and enterprises, Sci-Tech credit product prices should be in a reasonable range. Credit risk and operational risk are two big risks faced by credit business. On the one hand, commercial banks should strengthen investigation before loan and improve the current evaluation system, closely monitoring enterprise behavior after loan and establish a risk early warning mechanism. On the other hand, banks should enhance the quality of personnel, and cultivate a professional team.