Research On The Cross-border Financing Of Small And Medium Enterprises In Tianjin Pilot

With the developing of China’s market-oriented reform, SMEs inevitably involve in the tide of economic globalization and financial internationalization. At the same time, as the most active subject in market economy, SMEs has devoted a great increasing the ratio of the national economy and also paly an important role of adjusting the industrial structure and employment growth. But just like the rest of the world countries, the small and medium-sized enterprises have suffered the financing problems in our country. And financing difficult has become a bottleneck restricting in the development of small and medium-sized enterprises. Due to the limited supporting of the domestic financial system, cross-border financing becomes a popular support mode for many enterprises to seek, the enterprises can take advantage of low cost of cross-border financing, through the overseas listing and issuance of bonds to raise funds. In addition to the advantages of lower cost, cross-border financing can also improve the level of management enterprises and international influence. Well, at recent year, cross-border financing mostly supports in state-owned and large-scale multinational enterprises, but seldom supports of small and medium-sized enterprises. And for the majority of small and medium-sized enterprises are still in the exploratory stage of cross-border financing, and it is difficult to form a scale and lack of professional guidance.This paper introduces the definition of cross-border financing, types and characteristics, and FTA correlation theories foundation, definition, its characteristics and functions, and further analysis the current financing situation of small and medium-sized enterprises in our country, analysis of Tianjin Free Trade Zone cross-border financing development status and existing problems. And paper highlights the present situation and the relevant preferential policies of the FTA cross-border financing, and FTA uses its advantage of financial function to solve the SMEs financing problems, beside, analysis the problems of cross-border financing at the present stage. Trying to draw the ways of Tianjin FTA using cross-border financing to solve SMEs enterprise financial problems,the ways include the free trade account, cross-border financing, the free trade area of cross-border leasing, international trade settlement and financing platform of Internet cross-border financing. And on this basis, this paper puts forward some suggestions according to the current FTA cross-border financing difficulties.