An Economical Analysis Of Credit Financing Puzzlement Of Small And Medium-Sized Enterprises Based On Asymmetrical Information

Since the reform and open policy, small and medium-sized enterprise has become an important strength in China's economy development, which plays a pivotal role in creating public wealth, developing national economy, alleviating employment pressure and so on. However, the issue of financing has become the prime problem in the process of establishing and developing small and medium-sized enterprises. For instance, financing channels are rather few and influent to those small and medium-sized enterprises .Facing the huge employment pressure and the urgent need of the readjustment of the economic structure, China is in a special era of economical reforming now, so it seems extremely important to develop small and medium-sized enterprises and how to break through the "bottleneck" of fund in the developing process of small and medium-sized enterprises in China has become a crucial research topic at present.Under the current economical reforming background, the Chinese market environment of small and medium-sized enterprises presents the following several characteristics: the imperfect market mechanism, the imbalanced market system, the low credit that rigorously affects the diversified financing channels, the main channel of financing of Chinese enterprises is still the bank loan.Bases on the special background of Chinese economy reforming, using asymmetrical information theory and the gambling theory, utilizing the unified method of the standard analysis and the real diagnosis analysis, this article theoretically and comparatively analyzes the puzzledom in credit financing of small and medium-sized enterprises during the China financing reform process, and then, synthetically construes the wrought reason of that puzzledom. Finally, this article puts forward the reasonable proposals concerning the credit financing puzzledom for small and medium-sized enterprises separately in tripartite different angels: the government, the enterprises and the financial organs.Hopefully, it can play a positive role in solving the problem of financing for small andmedium-sized enterprises during the China economy reforming period.