A Study On The Construction Of Policy Financing Guarantee System For Small And Medium Enterprises In Guangdong Province

Small and medium enterprises(SME)is an important force in the economic and social development of Guangdong Province,but SME financing still remains a big problem.In this case,financing guarantee plays an important role in solving the problem.The construction of policy financing guarantee system is the public policy deployment of the state and the Guangdong provincial government,which is also a typical case of public investment and project management.The article mainly investigates the research production and practical experience of SME financing guarantee system both home and abroad,which serves for the purpose of constructing a sound SME policy financing guarantee system.It analyses the practical experience and current difficulties of policy financing guarantee institution from system design,capital source,stakeholder demand and confusion by applying the theory of bounded rationality model and document analysis,theoretical and empirical analysis,comparative analysis.The research puts forward the PPP mode of SME policy financing guarantee institutions and sets up government supporting policies,which provides a reference for our local government to promote SME policy financing guarantee system construction.This article systematically puts forward the plan of Guangdong province policy financing guarantee system construction,including the network of institutions,supporting policies and operating mechanism,and offers the countermeasures and suggestions on further improvement of the system.Firstly,speeding up the perfection of government supporting policies based on present policies including risk compensation policy,preferential tax policy,financial investment policies on transferring income perfect capital,continuous replenishment policy,risk compensation policy,business incentives,preferential tax policy,industrial policy,banking supervision and incentive policy,performance appraisal policy;secondly,improve the operation mechanism,establish and perfect the risk management mechanism and the Bank-Assurance cooperation mechanism,financing guarantee insurance products,investment linkage mechanism,capital channel innovation and management the incentives,SME credit information system and mechanism;thirdly,highlight the core role of provincial Re-guarantee Corporation.The provincial Re-guarantee Corporation integrates and implements the relevant support policies of guarantee institutions,with a view to building up a core of the system,a platform of supporting policies and a window ofBank-Assurance cooperation.The provincial Re-guarantee Corporation is responsible for the implementation of capital policy and the compensation policy.Strengthening the collaborative management mechanism of the network and building up an integrated system for policy financing guarantee institutions of provincial Re-guarantee Corporation and in 21 other cities is helpful for the constitution of an operation-efficient,wide-ranged system.The innovations of this article find expression in its further study of the construction of the policy financing guarantee system,including the establishment and operation of institutions,policies and mechanism;using PPP model to set up the policy financing guarantee institutions;presentation of an idea that set up a unified system the leading institutions function as a core;suggestion that to use the linkage mechanism of insurance investment as the policy financing guarantee marketization risk compensation mechanism.