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1、AnalysisoftheproblemoffinancingSMEsinChina[PaperKeywords]AnalysisofSMEfinancing[Abstract]Inthispaper,thestatusofthefinancingdifficultiesofSMEsinChinabasedontheanalysis,mainlyfromsmallandmediumenterprisesandSMEsinternalfactorsbothexternalfactors,analysisofthecausesresultinginSMEfinancing.First,t
2、hestatusofthefinancingofSMEsinChina1SMEaccesstoexternalfinancingtosupportsmall.SMEfinancingisaworldwideproblem,evenintheUnitedStates,Britain,Japanandotherdevelopedcountries,moreorlessinthedevelopmentofSMEshaveencountereddifficultiesinfinancing.Atpresent,thefinancinghasbecomeabottleneckrestricti
3、ngthedevelopmentofSMEsinChina.BankloansarethemostimportantexternalfinancingchannelsforSMEs,evenso,theshareofbankcreditfinancingforSMEsisverylowproportionof.2003SichuanInternationalFinanceCorporationProvince,Chengdu,Mianyang,LeshanCity,structuralconditionoffundingforSMEsconductedatypical11survey
4、,onaverage,bankcreditaccountedforonlysmallandmediumenterprisesfinancinginvestmentinfixedassetsof6.63%,accountingforsourcesofliquidityforSMEs9.65%fromthetermstructureanalysis,thebankisthemainprovideroffixedassetsandworkingcapitalfinancingloans,andlesslong-termcreditfromtheorganizationperspective
5、,Chinaisstillalackofspecificallytargetedtoprovidefinancingservicestosmallandmediumfinancialinstitutions.(2)thenarrowchannelsofdirectfinancingforSMEs.China’sstockmarketdevelopmenttendtotargetlargeandmediumstate-ownedenterprises,SMEdevelopmentcanonlyrelymainlyontheirowninternalaccumulation,and,ou
6、rcurrentlackofappropriateandsoundoperationalmechanismofventurecapitalfunds,listingthefinancingconditionsforSMEsbutalsodemanding,publicfinancingisgenerallydifficultforSMEstoachievethestandards.affectedbytheoverallpoorconditionandmanagementofsocialcreditsystem,SMEsusealimitedrangeoffinancinginstr
7、uments,issuanceofcorporatebondsisstilldifficulttodevelopmentandmarketacceptance,theuseofinternationalfinancialmarkets,themajorityofSMEsisevenmoreelusive.11Second,theinternalfinancingofSMEsAnalysis1.TheactualsituationofSMEsintheirf
