Empirical Study Of Chinese SMEs Financing

SMEs are hold a more and more important position in Chinese economics, and other countries in the world prevalent pay more attention to the SMEs. By this procedure, the finance difficulty faced by SMES attracts the attention of the world.SMEs in China faced the same situation as other countries. Main reason lies in the information asymmetry; the manifestation is imbalance in the structure of corporate finance: the structure of internal and financing imbalance, financing channels limited. The mainly financing problem of SMEs in our country currently is lack of internal financing channels, lack of direct financing channel seriously and depends on bank credit. However, because of information asymmetries and the economic structure of our country-specific factors resulting in the financing of SMEs in our country to be discriminated against. The reason of SMEs financing problem is not simply. It contains SMEs'features, prevalent policy and structure of economics.The financing problem of SMEs is an objective existence, but what is the cause of the problem, how to resolve the problem, is we must faced. We must find the answer from activity of SMEs and the environment of finance.By an empirical study, this thesis makes a clear known of the true situation of financing problem of Chinese SMEs. This thesis want know clear what factors influence the ability of SMEs'financing, and analysis what cause the financing problem of SMEs. The next step this thesis gives some advises to this problem.Firstly this thesis introduces the relevant theory of financing of enterprises, and tracking the current status of research about this topic both from China and abroad. Then through the research of macro-data introduce the current status of Chinese SMEs and financing of SMEs.In the third part, this paper analysis the dimensions what influence financing capability of SMEs, and find out what is the real factors influence financing capability of SMEs through the empirical model of SMEs financing capability impact factor. The paper divides the factors in three groups. The first group is use to exam the factors may be influence the capacity of outside financing way. The second group is used to exam the factors may be influence the capacity of inside financing way. The third group include some factors from other scholars research about this topic, and the paper use these factors to find if there are some different disciplines to normal enterprises. After the empirical study of this topic, find out the factors influence the capacity of financing. Through the analysis of these factors we can find out the real reasons of financing problem.This thesis give some advises in three levels, operation and management of SMEs, policies of government and the innovation of financing techniques.This thesis find out the reason of financing problem about Chinese SMEs, and find some discipline of SMEs financing. It make a foundation to the resolve of these problems.