Research On Mode Optimization Of Investment And Loan Linkage Of Commercial Banks

Technological innovation has become a powerful engine of social and economic development.Scientific and technological enterprises are positioned as the core carrier of scientific and technological innovation,and play a pivotal role in promoting scientific and technological innovation and realizing rapid and high-quality economic development.There were 225 thousand of high-tech enterprises and 151 thousand of technology-based small and medium-sized enterprises in China.These enterprises generally have the common problems of light assets and lack of collateral,and it limits the development of enterprises.On the other hand,as the regional carrier of incubating and Cultivating Science and technology enterprises,the majority of science and technology industrial parks are also exploring more new paths in the process of supporting enterprise development--how to stimulate the financial demand of enterprises,how to encourage financial institutions to improve the financial supply of science and technology enterprises,and how to give full play to the guiding role of parks and the government in the market in the formal financial supply.It is one of the important issues faced by the government,parks,financial institutions and technology enterprises.In particular,since 2015,the industry and academic circles have paid more attention to science and technology finance.They regard science and technology finance as ‘the last key stage of innovation from laboratory to market’,and believe that science and technology finance is ‘an important driving force for economic development and technological structure change’.Some scholars even point out that science and technology finance is ‘breaking institutional rigidity and knot’ under the background of supply side structural reform.It’s an important force of structural rigidity.Most researches regard science and technology finance as a sub field of Inclusive Finance,and reach a new level of business exploration under science and technology finance.In March 2015,the CPC Central Committee and the State Council issued ‘several opinions on deepening the reform of system and mechanism and accelerating the implementation of innovation driven’,which formally proposed for the first time to provide financial services for start-up,science and technology-based small and medium-sized enterprises through the combination of equity and creditor’s rights.In April2016,the China Banking Regulatory Commission,the Ministry of science and technology and the people’s Bank of China jointly issued the ‘guidance on supporting banking financial institutions to increase innovation to carry out investment and loan linkage pilot of scientific and technological innovation enterprises’,which is to promote the coordinated development of scientific and Technological Development and financial innovation from the national level,encourage and guide banking financial institutions to carry out investment and loan linkage business pilot for scientific and technological innovation enterprises,and clarify the requirements The first batch of 5 national independent innovation demonstration zones and10 pilot banks for investment and loan linkage.The financial deepening reform and innovation not only enriches the financial supply mode and tools of formal financial institutions for science and technology enterprises,but also changes to a certain extent the current banking product competition format with gradually deepening homogenization.Based on practical experience,China’s commercial banks to carry out investment and loan linkage business has indeed solved the financing difficulties of some small and medium-sized technology-based enterprises to a certain extent.However,this kind of business is still in the early stage of development and exploration.There are not only some institutional obstacles in practice,but also the differences in risk control ability of different financial institutions,resulting in the uneven level of business development.Based on Information asymmetry Theory and Transaction cost Theory,This paper analyzes the necessity of promoting the loan and loan linkage mode,and points out that this mode fills the blank area of commercial banks,and is a credit structure innovation for banks themselves.Through the systematic review of the existing research,this paper further summarizes the main investment and loan linkage modes and their characteristics at home and abroad,and sorts out the relevant research conclusions of income and risk under the most concerned mode for banking financial institutions.This paper first points out that the traditional investment and loan linkage business is not only a mode innovation and a breakthrough in the optimization of the approval concept of the formal credit business,but also an innovative breakthrough in the traditional management concept of banks around the inherent assessment guidance of risk,income and cost.Secondly,this paper focuses on the technology finance investment and loan linkage business of N bank.While reviewing its historical evolution,it clarifies the connotation and mode of investment and loan linkage business in practice.Combined with the current situation of market research,this paper makes an in-depth analysis of the current situation of investment and loan linkage business of N bank by comparing several cases.In particular,focusing on the exploration and Optimization Practice of N bank’s own investment and loan linkage mode in the past two years,this paper analyzes the innovation path of investment and loan mode with the participation of the government-parks-banks-investment institutions(GPBI MODE).While explaining the effectiveness of this innovation mode,the study points out that GPBI mode is truly realized on the basis of the traditional investment and loan linkage mode.It is a more effective Pareto improvement process for traditional investment and loan mode.This mode also strengthened the ties between different subjects,which greatly reduced the degree of information asymmetry in the course of business.For enterprises,this mode has further integrated the core resources needed in the development process,mobilizing the enthusiasm of all parties and ultimately alleviating the financing difficulties of enterprises.Finally,based on the research conclusion,this paper further puts forward the optimization path of N bank’s investment and loan linkage business innovation mode,and thus puts forward specific suggestions for China’s commercial banks in the development of investment and loan linkage innovation mode for technology-based small and medium-sized micro enterprises,especially the innovative ideas of risk management ability and the concept of stock and debt structure,so as to provide more reference for the government,regulators or financial institutions.