Research On The Development Of Smalland Medium Sized Enterprises Financing Channels Based On The Government Guidance

The Third Plenary Session of the party's eighteen "decision" clearly put forward to improve the financing conditions of small and medium enterprises of science and technology.This is because regardless of the proportion of R & D personl,R & D,R& D funds accounted for the proportion of total investment or the proportion R & D results as a result of the proportion of R & D results,the scientific and technological innovation has become an indispensable force in China's scientific and technological innovation.However,due to the small and medium enterprise itself in the capital needs of the need to have a variety of long-term financial support and its own credit situation is not perfect,can not guarantee the security of the assets less,their own risk and external financial market imperfections,information asymmetry and other aspects of the system has led to China's scientific and technological development of small and medium enterprises financing difficulties,and seriously hampered its development.In view of this,the paper analyzes the current status of the financing channels of scientific and technology,the main financing channels in scientific and technological small and medium-sized enterprises.The two kinds of financing channels are composed of external financing channels.based on this,from the perspective of government guidance and market to expand the existing financing channels for SMEs,government guiding the development of financing channels mainly based on the perspective of financial instruments innovation,proposed the government guidance of asset securitization financing channels,one center,two basic points financing channels.At the same time,this paper also based on the perspective of market bilateral matching to innovate the financing channels of small and medium enterprises,establish a bilateral matching mechanism,which is involved in scientific and technological enterprises,investment and intermediary service agencies.Through this study,in order to provide a practical reference for the development financing channels in science and technology small and medium enterprises.