| The achievements of developments among high-tech small and medium-sized enterprises (HTSMEs) have been playing the significant roles in enhancing the industries'competences on research and development by self of China, speeding up the adjustment on structures of industries, breaking the Western countries'protections on technologies.In the past decades, however, enterprises'financing predicament have become the key issues, which hobbling their development, resulting in attention paid much to look for the solutions– though the quantity and the qualification of this class have been improved quite much– because of small scales, high investment, inadequate political supports, insufficient financial services, and so on.This article is dedicated to discussing HTSMEs'financing theories, characteristics and the predicament which might be met when the enterprises financing, by which indicating the financing imbalance on high dependence on internal financing with short-term loans as the mainly external financing. It is quite difficult for Chinese HTSMEs financing in the ways in developed countries, such as risk investments, financing in stock market and bond market, over-the-counter. What is worse, there is insufficient support from government, and also the business banks. All mentioned above results in the fact that it is difficult to develop the enterprises'research into application as well as to enterprises'growing up themselves.Based on these problems, this article will discuss further on the reasons causing the enterprises'financing predicament, the countermeasures dealing with the problems. And then, based on my experiences and with relation lending theory, this article will see M Science Park of Tianjin as the successful case and discuss on its platform built for supplying financing services to HTSMEs. In the conclusion section, the solutions will be handed out to Chinese hi-tech zones where to meet to the enterprises'current financing demand. |
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