中小企业外源性债务融资制约因素与对策分析-analysis on restrictive factors and countermeasures of external debt financing for small and medium - sized enterprises.docxVIP

IV IV breakthrough for outside source funding for SMEs, which could be practical. Number one is to solve shortage of collaterals. According to the rule that the side which obtains benefits will fund, promotes the solution that guarantee expenses should be undertaken by financial institutions, encourages them to improve their credit ratios; creates conditions for promoting non-fixed assets collateral mortgage loan; sets up credit brokerage firms and develops private lending. Number two is to solve information asymmetry by appointing an accountant to SMEs from leading side. Sets up accountancy service department by the bank association or the guarantee organizations, and appoints an accountant and strengthens monitoring the financial position, the accountancy service charge should be taken from SMEs by the supervisor organizations. Number three is to set up and improve financial supporting mechanism. This includes setting up credit consciousness for enterprises, improving credit assessment for SMEs, letting government play its role, improving inter-enterprise trust mechanism, expressing the positioning of government, setting a civil organization- dominated credit guarantee system; under the promise and lead by policy, to set up help each other mechanism among SMEs; improve venture investment system, set up venture investment companies. Number four is to increase financial service for SMEs by banking institutions. This includes erase prejudice by state-owned banks, remove information obstacles between banks and enterprises; improve service ways for SMES; implement development measure by CBRC. Number five is to promote financial innovation service. This include aggressive reform and innovation by state-owned commercial bank, serving SMEs positively; to implement stare Ling plan, establish venture investment system, promote hi-tech SMEs’ growth; try the non- typical guarantee model ; innovate financial services. Following is innovation of this paper: Number one is to enf