The Study On Financing SMEs About China

As a special enterprise colony, Small and medium-sized enterprises play a decisive role in the development of national economy, but due to various reasons, the issue of financing has become an obstacle to the healthy development of SMEs on the road. Effectively solve the problem of financing, not only can make full use of it to the development of the national economy role, on the other hand, can effectively broaden the bank credit channel. Supply chain finance is a very good solution to SMEs and banks. Supply chain finance as a new financing mode of credit, the bank is no longer focus on the credit investigation of SMEs, on the contrary it’s attention is paid to the position, SMEs in the supply chain on the degree of importance and core enterprise historical transaction credit status, it is not to meet individual enterprise temporary capital demand, but to meet the financing needs for the purpose of whole supply chain. Supply chain finance appears to effectively alleviate the financing difficulties of SMEs which facing in the credit market, effective to resolve the asymmetric information between SMEs and banks.Based on the above research background, the research of this paper is that supply chain finance how to effectively resolve the asymmetry of information and to solve the financing problem of SMEs, so the research ideas of this paper are as follows:The first comprehensive review of domestic and foreign scholars for the financing of small and medium-sized enterprises and supply chain finance, with asymmetric information theory, transaction cost theory and the principal-agent theory as the theory basis of this study, describes the supply chain finance existence theory.Secondly, starting from the practice of the concept of supply chain finance and domestic banks, refines the main composition subject of supply chain finance, enterprise operation process of cash flow gap introduces the advance payment financing mode, inventory financing mode and account receivable financing mode based on the three modes, summarizes the differences between supply chain financing and traditional financing model, then consisting of a core enterprise and one medium-sized enterprises simple two level supply chain system as the background, to commercial banks as the research perspective, that banks prefer to provide loan for the whole supply chain, the supply chain members to maximize revenue, then introduces the supply chain financing risk management.Thirdly, first analyzes the problem of financing for SMEs, building a mathematical guarantee model to introduce. Compared with the traditional supply chain financing credit guarantee model has advantage in solving the problem of information asymmetry of SMEs, verify the validity of the adverse selection in supply chain financing in resolving our country SMEs financing difficult problem from a quantitative point of view, followed by two important means of risk control of Supply Chain Finance:cash flow control and structured credit arrangements can be a very good solution to the moral risks of SMEs credit business, which proved that the supply chain finance in resolving the financing problem of s SMEs with comparative advantages.Finally, a case of Yonghua,introduced the SMEs through the supply chain financing model can effectively solve the financing problem.Through the above research, the conclusion of this article to dissolve the SMEs supply chain financing financing problems has certain effect on the mechanism, can well solve the existence of asymmetric information in credit market, so the research of this paper is basically successful, but for a variety of reasons, some deficiencies of this study, the most important point is the study of this paper is verified theoretically dissolving mechanism of supply chain finance for SMEs financing problems, just proved from the theory, because of that, in reality it can’t be applicable to all of the SMEs, can only say that for most cases of SMEs. But overall, the financial supply chain still has the advantage, in contrast to traditional mode of credit financing has a comparative advantage.