Research On Credit Guarantee System Of High-tech SME

With the continuous development of economy and progress of science and technology, high-tech Small and Medium-sized Enterprise (SME) plays a significant role in increasing fiscal revenue, creating employment opportunities, promoting economic growth and technological innovation. Though SME has made great contribution to national economy, the problems of high risk, small scale and weak ability to resist risks make it hard to gain financial support from lending institutions which restricts the development of SME. The merge of credit guarantee system becomes the communication and coordination bridge between high-tech SME and financing institution, which releases the shortage problem of funds. Nowadays, the credit guarantee system of high-tech SME is still in the early stage of development, and it’s not mature in both theoretical research and practical operation. In this situation, the research of credit guarantee system of high-tech SME is of great importance in promoting the development of high-tech SME.This research first introduces the guarantee theories of credit transaction cost, credit rating and signal transmission in establishing credit guarantee system of high-tech SME, and then analysis the current situation of credit guarantee system of Tianjin. Then, it learns from successful experience of America, Japan and Korea from three aspects of capital resource, guarantee operation process and risk prevention. Combining with the actual situation of Tianjin, credit guarantee system of Tianjin high-tech SME has distinct characteristics, which includes high credit rating, small business risk, fast speed of business scale, stability of assets and liabilities structure, outstanding main business and great need of credit guarantee. Then it analysis the problems of credit guarantee system of high-tech SME of Tianjin from internal development and external environment aspects. For instance, in the process of internal development, the number of credit guarantee institution is small, the ability of guarantee is weak and it lacks effective risk transfer mechanism and loss compensation mechanism. In the process of external environment, credit guarantee legal system construction is lag behind and guarantee institutions are not in an equal partnership with lending institutions. At last the research brings out suggestions of perfecting credit guarantee system, in order to provide a broader way of its development.