High-tech Small And Mid-sized Enterprise Credit Financing Innovation Research

The high-tech Small and Medium-sized Enterprises (high-tech SMEs) make a great contribution to the development of technology and social economic. But shortage of funds is always the bottleneck that restricts its further development. At present, compared with the developed countries, our financial system is still far from perfect and the development of Venture Capital and GEM (growth enterprise market) is still at the beginning stage. Bank credit financing will always be the high-tech SMEs’mainly financing channel in the near future.Based on characteristics of the high-tech SMEs and the present situation of the credit financing, the thesis argues that the reasons that lead to the high-tech SMEs credit financing insufficient is that the insufficiency of bank credit business innovation, the high-tech SMEs defects of its own, the lack of perfect social security system and so on. After summarizing the SMEs financing experience of The United States, Japan, South Korea and other countries, this thesis discusses the innovation path of credit financing for the high-tech SMEs in China and puts forward three models to solve China’s high-tech SMEs financing shortage problem: supply chain finance for high-tech SMEs, intellectual property pledge financing, financing lease for high-tech SMEs, Bank loans Security&insurance model.