Study On The Influence Of Financing SMEs Of Our Country Under Liberalization Of Interest Rate

As an important part of the national economy, small and medium enterprises are irreplaceable in improving China’s economic growth and technological innovation. However, the development of SMEs is facing serious challenges, the most difficult problem is the financing difficulty. SMEs financing is a worldwide problem, but China’s SMEs financing has its own special causes. One of the most important reasons is that the interest rate has not been fully market-oriented in SMEs financing. If the interest rate liberalization can be well practiced, and the related system of our country can be well improved, the SMEs financing will be benefited. Overseas experience shows, open financial environment can promote optimal allocation of resources and deepen the reform of the banking system. For more SMEs which depend on bank financing, reform of the banking certain can ease their financing difficulties and promote their healthy and rapid development.In view of this, firstly, this paper introduces related theories of the interest rate liberalization and the financing of SMEs,and then uses a simple theoretical model analysis. The SMEs will be affected by the credit rationing because of the interest rate controlling, and the interest rate liberalization will ease the problem of SMEs financing; The impact of interest rate liberalization on the financing of small and medium enterprises is mainly through three aspects of conduction including: improving financial institutions loans enthusiasm, promoting the banking business innovation, expanding financing channels, which has produced certain positive effects. Secondly, because of USA and Japan have completed the interest rate liberalization, we can implement the two countries of interest rate liberalization achievements to reference and summary, deeply analyze the three different influences from the interest rate liberalization and prove that the interest rate liberalization has some influences on the financing of SMEs and it is a reference for the reform of China’s interest rate liberalization at the present stage. Once again, in recent years, China has promoted the interest rate liberalization. Under this background, the financing of SMEs is influenced by many aspects, and there are three most important aspects. The paper selected four typical aspects of the case and deeply combined with China’s background of macro and micro analysis, reflecting the impact of interest rate liberalization on the SMEs financing in China. Finally, through the foreign experience and the impact of China’s interest rate liberalization to financing of SMEs, this paper made a point of view on how to use the interest rate liberalization to solve the financing difficulty of SMEs.