Research On The Financing Problem Of Small And Medium-sized Enterprises In China Based On The Perspective Of Financial Structure

The economic development experience of countries in the world shows that the development of small and medium-sized enterprises plays an important role in the development of the national economy, and to solve the core problem of SMEs development is to properly handle the SMEs financing bottleneck. At the same time, the national financial system development experience also shows that there is certain relationship between financial institutions development and economic development, especially with the development of SMEs. Combining with the present situation of the indirect financing system of SMEs in China and drawing lessons from the foreign successful experience, this paper studies how to determine the most suitable financial structure and how to build better financial institutions to meet the financing needs of SMEs.From the literature on financial development and economic growth theories, this paper summarizes theories and empirical research results of domestic and foreign. On this basis, this paper puts forward that studying the financing problem should not be separated from the formal banking sector and informal underground financial sector two aspects. Because the formal and informal finance has close connection and informal finance itself is the source and foundation for formal financial birth and continuing innovation, this paper points out that we should put them into a unified analysis framework system. And also this paper points out that we should analyze the contact between these financial institutions and the relationship between these financial institutions and the SMEs from a holistic perspective. We should explore how to construct the most suitable financial institutions for the financing problem of SMEs in such an overall perspective, so that we can better solve the financing problem from the composite dimension.Through studying the financing mechanism of relationship between financial institutions and SMEs from the system theory and optimal financial structure theory, this paper draws a conclusion that small and medium-sized financial institutions have obvious advantage in the financing of SMEs compared with the large banks. Only developing customer demand-oriented marked specialization of small and medium-sized financial institutions, combined with effective external financial policy environment is the fundamental solution to solve the problem of difficult financing. At the same time, on the research methods and conclusions, this paper puts forward some relevant policy suggestions and prospects of the development trend of financial institutions.