Research On Financial Support Of Shanghai Science And Technology SMEs

China's "12th Five-Year Plan" puts forward to enhance the ability of scientific and technologic innovation,based on the "12th Five-Year Plan","13th Five-Year Plan" proposed to strengthen the leading role of science and technology innovation.As a part of the national strategy,to build Shanghai as a Science Technology Innovation Center with global influence.The construction of Science Technology Innovation Center is to promote economic reform and development.Taking science and technology as the capital,the enterprise as the main body,promoting the further improvement of productivity through modern methods.As the main body of the innovation and development of Shanghai,the High-tech SMEs continuously provide the blood and vitality of innovation.The characteristics of High-tech SMEs as "high investment","high risk" and "high intangible assets",which is restricting the financing and development of High-tech SMEs.The construction of Innovation Center,focus not only on the construction,but also the innovation of science and technology.The first of the innovation is technology innovation,through the cultivation of high-tech research and development,science and technology talents provide the impetus for innovation.Secondly,it is the innovation of the system,and we should dare to break the system and culture,including the policies and regulations and so on.Under the environment of innovation created by the state to realize the innovation of science and technology,financial institutions should not violate the market norms,combining the two levels of local and national strategies to innovate financial products,joint participation in solving the problem of financing for the High-tech SMEs in Shanghai,setting up a financial service product platform suitable for High-tech SMEs.The pattern of innovation has been initially formed,but the intensity of innovation needs to continue to improve.Innovation is not the end but the driving force of development.This paper is on the background of innovation center construction,using method of normative and empirical research,qualitative and quantitative research,research how to promote the High-tech SMEs financing ability.By the study of Enterprise Life Cycle Theory,Pecking Order Theory and the Credit Rationing Theory,expounded the present situation of financing difficult for the High-tech SMEs.Studied the present situation of the High-tech SMEs in Shanghai and the current financing products of commercial banks.It is proposed that enterprises should improve their own and eliminate information asymmetry as the premise,speed up the innovation of financing products as the main line,and policy innovation as the basis of products design.Introduction of linear regression model to analyze the growth driving factors of the High-tech SMEs,combination of Life Cycle Theory,from the three aspects of the capital demand side,the supplier and the government,put forward rationalization proposals to solve the financing difficulties of the High-tech SMEs,to improve the financing of high-tech SMEs.