A Research On Investments And Loans Linkage Model Of Commercial Banks

Along with the our country enters the new normal economy,the high economic growth of 10% in the first ten years in 21 th century has been transited into medium to high speed growth with a rate of 6.7% in 2016.Economy has entered a transition phase shift.Science and technology innovation become the key to the success of economic transformation and upgrading.The eighteenth national congress of the CPC and eighteen third,fourth and fifth plenary session of the party have proposed that insisting on developing of innovation,coordination,green,open,sharing ideas,accelerating the development of innovation driven,promoting mass entrepreneurship and innovation,taking advantage of the positive role of the banking sector,exploring suitable enterprise development model of financial service innovation.But the financing problems and insufficient financial support in the development of small and medium sized enterprises of science and technology in China are still big problems in economy development,which is not conducive to China’s economic transformation and upgrading.Both national and local government are actively increasing the financial support for small and medium-sized enterprises of science and technology.However,the financing problem of small and medium-sized enterprises has not been resolved in the he reality of financing mode.In the capital market,due to the limitations of the "commercial bank law",commercial banks can not provide direct equity investment in small and medium sized enterprises,and the proportion of direct financing is less than 10%;in terms of bank financing,based on the characteristics of asset-light and high risk in small and medium sized enterprises,the commercial banks are reluctant to provide credit support for small and medium-sized enterprises.Therefore,in the existing financing mode,in order to solve the financing difficulties of small and medium sized enterprises and innovate the existing financing mode,Investments and loans linkage has been design under such a background.Investments and loans linkage is the commercial bank expands strategic cooperation with VC,PE.VC,PE institution carry on equity investment with minor enterprises,commercial banks follows up on corporate credit financing support,come into being “stock right and creditor’s rights” financing model.The several win-win mechanisms have been formed.At present,there are some defects and limitations exist in the five investment loan linkage patterns,which is not suitable for most commercial banks.In this paper,The mode of investment loan linkage in this paper,following the successful example of small and medium-sized enterprises in the United Kingdom,designs with the foundamental realities of our country.Firstly,commercial banks set up a special technology finance division,which is responsible for the investment loan linkage work,at the same time they choose the appropriate science and technology park.Then a joint venture fund for the development of science and Technology Park were established by Science Park,Venture capital organization and government.The commercial bank provides a certain amount of loan support for the park’s development fund.The park development fund provides equity investment for qualified small and medium enterprises in the park.Secondly,commercial banks should design the product system for different growth cycle of the enterprise to provide different financing methods.Finally,In order to ensure that the loan linkage is readily implemented,the policy proposal is put forward.Accelerate the liberalisation of equity investment;accelerate the construction of multi-level capital markets,mining of customer resources by Multi-channel,strengthen risk management and internal controls,cultivate the complex talents.