Research On The Impact Of Internet Finance On The Financing Of Small And Medium-Sized Enterprises In China

Small and Medium-sized Enterprises(SMEs)are a large number of enterprises with strong innovation ability in China,which are of great strategic significance for promoting China's national economic growth,increasing employment,enhancing the level of scientific and technological innovation and promoting social harmony.According to the basic statistics of the national market subject development of the State Administration of Market Supervision in 2018 and relevant disclosed data in the yearbook of China's small and medium-sized enterprises,large enterprise of industrial enterprises account for0.4percent,medium enterprises for 2.4 percent,small enterprises for 33 percent and micro enterprises for 64.2 percent.Medium small and micro enterprises account for 99.6 percent of the total of enterprises.In addition,from the perspective of job supply,large enterprises provide only 24.5 percent of jobs,medium-sized enterprises 22.5 percent,small enterprises41.1 percent,and micro enterprises 11.9 percent.Intotal,medium small and micro enterprises provide more than 75 percent of jobs.The financing dilemma caused by information asymmetry and other reasons has been restricting the development and growth of small and medium-sized enterprises.With the rapid development of Internet technology in China,emerging Internet finance seems to bring dawn to the financing of small and medium-sized enterprises.With the advantages of big data,high efficiency,low cost and high flexibility,Internet finance can reduce the problem of information asymmetry between financial institutions and small and medium-sized enterprises,reduce the financing cost and ease the financing difficulty,so as to improve the financing efficiency of small and medium-sized enterprises.Therefore,it is of great realistic significance to study the impact of Internet Finance on the Financing of Small and Medium-sized Enterprises.This paper first introduces the development status and mode of Internet finance,and analysis on it to draw the advantages,disadvantages,opportunities and threats of Internet finance.Secondly,the influence of Internet finance on SME financing is analyzed and studied theoretically.It is believed that Internet finance can reduce information asymmetry,reduce financing cost,realize personalized financing demand,and evaluate credit rating ofloan enterprises with its big data technology advantages,so as to control financing risk within a certain range.Finally,the fuzzy comprehensive evaluation method and analytic hierarchy process(AHP)are adopted to select indexes such as financing costs,financing time,financing difficulty,financing freedom,financing convenience,financing normalization,and financing risk to measure the financing efficiency of different financing channels.It is concluded that for small and medium-sized enterprises,the financing efficiency of Internet financing is the highest,and countermeasures as well as future prospects are provided according to the results of the study.