Innovation Research On The Financing Policy Support Of Small And Medium-sized Enterprise Of China

Along with our country economy enters the new normal,economic growth speed shift and enter the key period of economic structural adjustment,small and medium-sized enterprises as a most active in the economic structure of the economy,its healthy development for the increase of employment opportunity、the transformation of the pattern of economic development and the improvement of social science and technology innovation ability has a great role in promoting.For the Chinese government has given small and medium-sized enterprise development policy support from various angles,the problems such as encountered in the development of small and medium-sized enterprises capital have eased somewhat.However,small and medium-sized enterprise financing demand far more than the existing policy support can receive the financial support,its financing conditions to be improved fundamentally.Such as the higher threshold and the limited capacity of direct financing,the big difficult of indirect financing pledge credit,the high cost of financing cost,credit system is not perfect,the constraint mechanism has not yet been carry out,these unfavorable factors led capital providers under the existing policy support for small and medium-sized enterprise financing needs hold a conservative or reject attitude.The government administrative intervention is mad,policy implementation is not high,making policy support inefficiently.Therefore,existing financing policy is not perfect and emerging financing policy blank need to innovate and rebuild small and medium-sized enterprise financing policy support of our country to ensure that small and medium-sized enterprise financing gap as much as possible to reduce and improve the small and medium-sized enterprise financing environment.The current relevant financing policy support which involves many aspects financing,and the emphasis and difficulty in small and medium-sized enterprise financing problems focus on the financial system and financial system,so this article select the financial level and financial level to perfect the existing financing policy and explore to build a new financing model to explore.First of all,the basic theory of financing of small and medium-sized enterprises are analyzed,from the point of view of both at home and abroad and analysis of the definition of small and medium-sized enterprise standards,and combed the related theory of small and medium-sized enterprise financing.Second,fully analyzes the small and medium-sized enterprise financing present situation,points out that small and medium-sized enterprise financing difficulties of the internal cause and external cause.On the current situation of small and medium-sized enterprise financing policy mainly from our country present stage monetary policy and fiscal policy support,study the new financing mode gradually under the policy support,as well as the problems in the process of policy implementation.Third,select the United States,Japan,Britain,Germany and other countries with mature of small and medium-sized enterprise financing policy support,analysis the financing policy support and its characteristics,points out that the government’s policy support for small and medium-sized enterprise financing abroad mainly sound law as the safeguard,fiscal policy by the government as the leading factor,combining with financial policy to support small and medium-sized enterprise financing.Finally,combined with the actual situation of small and medium-sized enterprise financing in our country,draw lessons from foreign higher feasibility of small and medium-sized enterprise financing policy,from two aspects of financial and fiscal feasibility of high perfect suggestions and new financing mode of thinking,so as to enrich our country existing small and medium-sized enterprise financing policy support system.The innovation of this article is mainly choose the research object of financial support of small and medium-sized enterprises financing belongs to the actual hot topic and based on the present situation of related research is less.Based on foreign mature at present more popular small and medium-sized enterprise financing policy for reference,the selective analysis and innovation Investment-Loan linkage and financial policies,such as supply chain financial policy support for small and medium-sized enterprise.For Investment-Loan linkage,suggested as early as possible to modify the "commercial bank law" about the limitation of commercial banks directly to enterprise equity investment,and under the condition of existing specifications from a policy on the investment function within the bank group subsidiaries and "bank and venture" Investment-Loan linkage business mode; to strengthen the construction of Investment-Loan firewall;limited commercial banks for their participation or holding enterprises loans,avoid open policy can lead to "rescue".For supply chain finance,suggest to intensify construction bank supply chain finance platform; to speed up the perfect "Internet and supply chain finance" integrated service; access to the financial supply chain set level.Innovation of small and medium-sized enterprise financing fiscal policy mainly including improve the small and medium-sized enterprise financing fiscal policy of special funds,increase the intensity of fiscal subsidies for small and medium-sized enterprises,establish a diversified financial subsidy mechanism to reduce corporate rent-seeking behavior.