Study On The Financing Case Of Dawu Group And The Relevant Financial Problem Of Small And Medium-sized Enterprises

Since the reform and opening, the small and medium-sized enterprises (SMEs) in our country, China, has been developing enormously. SMEs provide an important effect on employment and the development of economy. They have become a significant role in Chinese economy. Therefore, all of the governments around the world are paying attention to the development of SMEs. However, one of the difficulties here is the finance, which is also a global problem.In the beginning, the writer did a research on the financing case of Hebdi Dawu group and the development and current financial situation of SMEs in China. The latter is characterized by the simplicity of financing channels -the inner source financing and credit among enterprises, but SMEs cannot attain enough capital for its development from the bank institutions as well as the capital market. Then from analyzing the cause of SMEs financing difficulty by economics theory, the writer point out that the asymmetric information is the radical cause. The writer has also analyzed the cause of SMEs financial difficulty in detail from four aspects, which are the enterprises, the financial, the government and the credit system. After that, the writer brought forward the countermeasure to resolve financial difficulties of SMEs. This is done by analyzing the advanced pattern and experience adopted from some of the developed countries such as USA, Japan, Germany and Taiwan, which are united with concrete conditions of our country. It expands direct financing channels greatly and increases the small and medium-sized bank institutions that are suitable for the finance of SMEs.There is some positive significance for SMEs to finance and to solve the financial problem gradually of SMEs in our country from the main conclusion of the dissertation.