Financing Of Small And Medium-sized Enterprises In China Study On The Structure, Conduct And Efficiency

It is an old international topic to develop the small and medium-sized enterpriseenergetically. The problems of the small and medium-sized enterprise have importantstrategic meanings to the social stabilization and development in the various countries orarea. At present, the important function of small and medium-sized enterprise and positionin the economy are more and more obvious. The small and medium-sized enterprise isbecoming the focus of the economic system day by day. "The Decisions of Several Issuesabout Perfecting Socialist Market Economy System of the Central Committee of theCommunist Party " passed by the 16th Session of the Third Plenary Session of Party onOctober 2003, proposed that the following policy formally is to develop the private smalland medium-sized enterprise, to encourage conditional enterprises themselves big andstrong and to support small and medium-sized enterprise at scope of the size and so on.However, because of the limitations of the economy system and the enterprises themselves,the small and medium-sized enterprise of our country still exists a great deal of bottlenecks.The most serious one is financing which demands prompt solution. Just under this background, on the basis of the peculiar conditions of economictransition period of China, the strategic policies----controlling the large enterprises whilerelaxing control over small one and small and medium-sized enterprise's owncharacteristics, we choose domestic financing of small and medium-sized enterprise as ourresearch object, regard utilizing state-run asset, activate the folk capital as the goal, throughusing the experiences of the western developed countries and coordinating the relevantinterests, finally try to find the effective way to solve the financing problem of small andmedium-sized enterprise of our country and then enrich the existing investment andfinancing theory. Here we put forth effort to make positive, helpful exploration inoptimizing the structure of our financing of small and medium-sized enterprise, standardizethe financing behavior and improve financing efficiency. The former study always confines to a certain reform scheme to solve the problemand insist on seeking the optimum routes of the problem. This kind of idea did not considerthe special condition of our country wholly. It has a big number of the small andmedium-sized enterprise in China. Because they are from different regions or havedifferent ownerships, the author has chosen " cocktail treatment" by way of a kind ofinnovation to solve the financing problem of the small and medium-sized enterprise. 4第一章 导言 Under the guidance of this mode of thinking, the author have put forward thefollowing way of thought : Combine the financing structure, the financing behavior and thefinancing efficiency of the small and medium-sized enterprise. Carry on the analysis of thecurrent financing situation of small and medium-sized enterprise of our country. Then wedraw a conclusion that the small and medium-sized enterprise of our country is in afinancial predicament of out-of-balance financing structure, tied financing behavior and lowefficiency of financing. We also try to find the cause of formation of this phenomenon atthe same time. We concern five questions in this article---- a basic theoretical question( theasymmetric theory of the information), a realistic problem ignored mainly (the insufficientin capitals), an important problem ("national treatment" issue) , an unclear problem ( giveplay to the role of government ), a question needing to treat objectively ( the qualities of smalland medium-sized enterprises) . Regarding this as an analyzed frames, the author willsolve the financing problem of small and medium-sized enterprise from a more systematicangle that is geared to actual circumstances.