Research On The Financing And Countermeasures Of Small And Medium- Sized Enterprises In Hebei Province

In China, most small and medium-sized enterprises are private, and they are supervised by individual persons.They have the characteristics of small scales and weak risk resistance, so it is difficult to finance in the existing financial markets. Financing difficulty is the main obstacle for its further development,transformation and upgrading in small and medium-sized enterprises,and it also becomes a hot topic in academic circles. The publication of the pilot measures for thesmall and medium-sized enterprises’ private palecement bond means that its financing in China has just initiated, which provides a new way for financing, and also a new investment domain for the capital market.On the basis of other provinces and cities first try, Hebei province has become the twenty-ninth private placement bond of countrywide small and medium-sized enterprises in September 2014. Private placement bond is applauded, while there is no substantive breakthrough and it is caught in the embarrassing situation in Hebei Province,which violates its original intention. At the same time, through the retrieval of relevant academic literature, the academic research on private placement bond of small and medium-sized enterprises in Hebei province is relatively small. Therefore, in this paper,the research is based on the contermeasures of private placement bond of small and medium-sized enterprises.Firstly,on the basis of related concepts, through the comparison and analysis of the private bonds, bank oriented debt instruments, small and medium enterprise collective bonds, and small and medium enterprises, small and medium enterprise private bonds, private placement bond has the advantage and strong competitiveness of flexible issue, basic conditions and investors which becomes an important channel to solve the financing of small and medium enterprises introduce definition and characteristics of private placement bond of small and medium-sized enterprises, and then analyze its development situation from development history,principal character,present problems such as poor macroscopic policy formulation and implementation, lack of specific supporting policies and enthusiasm of private equity bonds for private equity issue, low capital market participation and slow speed of credit guarantee system unsatisfactory issue of private placement bond,reasons and its current situation in Hebei Province.Finally, from the experience of the United States, Europe and Asia, put forward the suggestion about healthy development of private placement bond of small and medium-sized enterprises,for example,develop private bonds for local management rules, strengthen policy guidance, cultivate the main issue and qualified investors, enhance trust ability and build credit information platform.