最新中小企业融资英文文献资料

1、精品文档中小企业融资英文文献An Analysis on Credit Guarantee System of Small and Medium-sized Enterprises in China AbstractAt presentthere are still many constraints in the further development of SMEsmall and medium sized enterprises in ChinaAnd especially the financing development of SME has become a bottle n eck

2、which was caused by the unsound credit guara ntee system for SMEBased on China SME guarantee system and its problemsthe thesis puts forward proposals to perfect guarantee system for China s SME withmalymisIn order to make guarantee system play itsdue roleit is n ecessary to establish differe nt mode

3、s of credit guara ntee in stitutio ns in accorda nee with the actual situationto found SME credit guarantee funds and its supplementary systemto adjust the operati on mode of guara ntee funds and to improve legal protect ion of the credit guara ntee system对中国中小企业信用担保体系的分析摘要目前中国中小企业的进一步发展仍然受到很多约束尤其是中

4、小企业融资问题已经成为制约的瓶颈。这是因为中小企业不健全的信用担保体系造成的基于中国中小企业担保体系和它的问题本论文通过正常的分析提出了完善中国中小企业的担保体系的的建议。为了使保障体系发挥其应有作用有必要根据实际情况建立不同的信用担保机构模式。建立中小企业信用保证基金及其辅助系统。调整保证基金的运营模式提高信用担保系统的法律保护。KeywordsSMEsmall and medium sizedenterprisescredit guarantee systemcredit guarantee fund 1 Introduction The present situation of cred

5、it guarantee system in China China s SME credit guaranteef ObiBpBxsdd and TwoWingsOne body refers to the city provi ncial and n atio nal credit guara ntee systemNatio nal SME credit re guarantee institutions make services for the provincial SME credit guarantee institutionsprovincial SME credit guar

6、antee institutions offers services for the city SME credit guara ntee age ncies and city SME credit guara ntee in stituti ons do services and bus in ess for community mutual institutions and commercial guarantee institutionsWrings ” refers。themutual guarantee agencies and commercial guarantee agenci

7、es which make service for SME in urban and rural communitiesBoth are the foundation of SME engaging in direct guarantee bus in essCommercial guara ntee age ncies and mutual guara ntee in stituti ons enjoy the re guarantee services and share the risk provided by SME agencies in accordanee with state

8、regulation and provision 1介绍 中国信用担保体系的当前现状中国中小企业信用担保体系由一个身体和两个翅膀构成身体指城市、省份和国家信用担保系统。国家中小企业信用再担保机构为省中小企业信用担保机构提供服务省中小企业信用担保机构为城市中小企业信用 担保机构服务城市中小企业信用担保机构为社区互助机构和商业担保机构提供服务和业务。两个翅膀”指为城市和农村社区服务的互助担保机构和商业担保机构。两者都是中小企业从事直接担保业务的基础。商业担保机构和互助性担保机构享受再担保服务并且分担中小企业 按照国家规定和条款应承担的风险。Si nee l 998the credit guara

9、ntee system for SME has bee nestablished in ChinaAccording to the survey from National Development and Reform Commissionby the end of 2006there are 3366 guarantee institutions in Chinaincluding 359 provincial ones and l 665 municipal ones668 institutions are funded by government629 in stituti ons ar

10、e supported in financingand 2049 in stituti ons are fun ded by non gover nmen tThereare 2863 company legal persons38l institution units and l22 juridical associationsGuarantee in stituti ons raise the total capital amounts to l23258 billio n yua nof which 35746 billi on yua n is con tributed by gove

11、r nmen tacco un ti ng for 29of the totalGuara nteed compa nies are up to 379586 and guaranteed capital amounts to 805.187 billion yuanAmong 3366 guarantee institutions servicesthere are 128 million serviceswhose single guaranteed capital below one millionaccounting for 858 of the total 自从1998年信用担保体系

12、应经在中国建立依据国家发展和改革协会的调查到 2006年年底将有3366家担保机构在中国包括359个省担保机构和1665个互助性机构668个机构将由政府建立629个机构通过融资建成2049个由非政府资助而成。将有2863个公司法人381个事业单位和122个司法协会。保证机构筹集资本总额达123.258亿元其中35.746亿元由政府贡献占总数的29。担保公司上升至379.586担保资本达到805.187亿元在3366个担保机构服务中有 128.0000个服务他们的担保资金在一百万元以下的占总数 的 85.8. 12 The present situation of credit guarante

13、es system abroad In the world Japan has established the credit guara ntee system for SME at the begi nningln 1 937 regi onal Tokyo Credit Guara ntee Associatio n was foun dedI n l958 the establishme nt of a n ati onal SME Credit In sura neeCorporation and the national credit guarantee associations f

14、ormed a national credit guarantee system for SME which comb ined the cen tral and local gover nments to share riskGuara ntee and re guaranteeAfterwardsthe United StatesGermany and Canada began to implement credit guara ntee system for SME respectively in 19531954 and in 1961So did Taiwa n and Ho ng

15、Kong respectively in I 974 and l 998The more developed the market economy isthe more perfect the credit guara ntee system will in such way it will provide treme ndous finan cial support for SME.1.2外国信用担保体系现状日本是世界上最先建立中小企业信用担保体系的1937年在东京建立东京信用担保协会1958年设立了国家中小企业信用保险公司和国家信用担保机构两者组成了为中小企业服务的国家信用担保体系他们联合

16、中央和地方政府共同分担担保和再担 保的风险。后来美国。德国和加拿大分别在19531954和1961年开始为中小企业实施信用担保体系。台湾和香港也在1974年和1998年实施。市场经济越是发展信用担保体系越完善以 这种方式将提供巨大的财政支持中小企业。2 The Major Problems in Our Credit GuaranteeSystem 21 The structural problem of SME credit guara ntee system The major structural problems of SME credit guara ntee system are

17、that the gover nment guara ntees too much in the in stituti ons and guaranteed loans while private capital-based guarantee including mutual guarantee and commercial guaranteetakes a little proportionln a wordSME credit guarantee is a market phe nomenon because it is mainly caused by SME finan cial d

18、ifficulties Inthe marketeconomygovernment exists and operates as a macrocontroller and social manager to regulate the marketmake and main tai n the market rulesObviously gover nment does not have a constitutional foundation and capability to solve the market problemsWhat s moreas SME loangap is a ma

19、rket phenomenonthe market itself has mechanismmotivation and capacity to solve itthat is to say private capital gives loa n guara ntees in the SME loa n market In factbecause of the large qua ntity and wide ran ged SMEpers on alized loa ns dema ndand ever- in creas ing en terprises annu ally its imp

20、ossible for gover nment which fulfills the macro con trol and social man ageme ntfun ctio ns to play a lead ing role in SME guara ntee system without eno ugh capitalThereforeit is unn ecessary and impossible for SME credit guara ntee system to over-depe ndent on gover nment 2 我国信用担保体系存在的主要问题2.1中小企业信

21、用担保体系的结构问题中小企业信用担保体系主要结构问题就是政府过多的担保机构和担保贷款而私立物担保包括互助性担保和 商业担保仅有一点比例。总之中小企业信用担保是一个市场现象因为它主要是由于中小企业 财务困难。在市场经济中政府像微观调控者和社会管理者样的存在并且操作和规范市场制定 和维持市场规则政府明显没有宪法基础和能力去解决市场问题另外因为中小企业贷款缺口 是一个市场现象市场本身有机制、动机和能力来解决这个问题就是说私人资本给中小企业贷22 The款市场提供了贷款担保。实际上由于中小企业的数量多范围广个人化的贷款需求每年有越来 越多的企业政府没有足够的资金不可能充当中小企业担保体系的领导者去践行

22、微观控制和 社会管理的功能。所以中小企业信用担保体系不需要也不可能过多的依赖政府。operation management problems in SME credit guarantee system The operating management problems in SME Credit guara ntee system is mai nly reflected in four aspectsfu nds compe nsati on mecha ni smrisk dispersed mecha ni smguara ntee variety and guara ntee per

23、s onn elThe capital sources of government guarantee institutions mainly come from financial funds and assets of local gover nments and guara ntee fee as a suppleme ntHowever local finan cial resources and assets are in a on e-time-scale while gover nment guara ntees in stituti on as a non-profit one

24、 charge very low guarantee feeTherefore government guarantee institutions are lack of funds compensation mecha ni smThat is why the bank is afraid of releas ing too much loa ns for SME although there are so many government guarantee agenciesCommercial guarantee institutions are also lack of the same

25、 mechanism because of their less capital powerThe majority of commercial guarantee in stituti ons make high guara ntee fee as fund compe nsati on Some in stituti ons charge guara ntee fees in accordanee with the half of loans interest rates and some institutions charge more than itln factthe need of

26、 specialized guarantee institutions for SME loans lie in that their own credit is lowneither are there qualified guaranteed things nor do find a guarantor of non financial in termediariesToo much coun terGuara ntee dema nds from guara ntee in stituti ons lead that the in stituti ons can not solve th

27、e loa ns difficulty making guara ntee applicati ons put forward by SME redundant and violate the aim of establishme nt of SME guara ntee systemGuara ntee in dustry is a highly specialized which requires personnel not only have financialsecurity and other kno wledgebut also highly familiar with every

28、 aspect of bus in ess operati on sBesides tale nt lackChina has not yet established an access system to guarantee qualification and penalty mecha nism for break ing a promisewhich also led to the in capability and disqualificati on of the existing employeesGuarantee varieties are poor and the guaran

29、teed time is shortAt presentThe majority of our loa ns are guara nteed in the 6 mon ths not exceedi ng one yearThe guara ntee things are basically confined to long term loan guarantees such as circulation capitalrare equipme ntstech nology inn ovation and so on 2.2中小企业信用担保体系的操作管理问题中小企业信用担保体系的操作管理问题主

30、要反映在四个方面资金补偿机制风险分散机制担保种 类和担保人员。政府担保机构的的资金来源主要来源于金融资金当地政府的资产还有补充的 保障费。不管怎样尽管政府担保机构作为一个非盈利机构仅要很低的保险费但是当地财政资 源和资产是一次性投资。因此政府担保机构缺少基金补偿机制这就是为什么银行害怕为中小 企尽释放太多的贷款管有如此多的政府担保机构商业担保机构也同样缺少这样的机制因为没有足够的资金力量。大多数的商业担保机构使用高担保费用作为基金的补偿。一些机构依照保证贷款利率的一半收取保证费用还有些机构收取超过它。事实上中小企业需要特别的担保机构因为他们的信用度偏低既不合格保证事情也不找一个非金融中介机构的

31、担保人。太多的柜台担保机构的担保需求导致机构不能解决贷款困难使得中小企业提出了过多的担保申 请违反了建立中小企业担保体系的目的。担保行业是一个高度专业的这就需要人员不仅有财务、安全及其他知识但也非常熟悉每一方面的业务。除了人才缺乏我国还没有为违反担保条约建立一个合适担保资格和处罚机制。这也导致了现有的从业人员没有能力胜任这项工作担保品种很少而起担保时间很短.目前大部分贷款时间十六个月没有超过一年担保事项基本上 局限于长期贷款担保如流通股本罕见的设备、技术创新等。23 The lag of credit guaranteelegal con struct ion As an importa nt

32、 comp onent of n atio nal finan cial support policy SME credit guarantee system needs specialized laws and regulationsln this regardlaws and regulations concerning with SME credit guarantee industry in China are mainly Company Law Guarantee Law SME Promotion Law as well as departmental rules and loc

33、al regulations made by local gover nments accord ing to releva nt policiesAm ong themCompa ny Law does not make specialregulati ons for guara ntee in stituti ons and Guara ntee Law adjusts non-professi onal guara ntee acts of en terprises and n atural pers ons and concerns with the protect ion of th

34、e creditors interestsHoweiVenot yet clearly defines market access and withdrawal of the specialized guara ntee in stituti on sbus in ess range and variety qualificati on of employeesfi nan cial and internal con trol system in dustry self-regulati on and gover nment regulati on and other issuesOther

35、issued policies have been suitable for government guarantee institution in a narrow scope of applicati on Thereforethe curre nt n ati onal developme nt of legal system on the protect ion of guara ntee in dustry lags beh ind the developme nt of the in dustryThereforemarket accessbus in ess operations

36、 and market withdrawal are in a laissez faire statewhich has seriously hindered the sou nd developme nt of the credit guara ntee system 2.3信用担保法律制度的严重滞后作为国家金融支持政策重要的组成部分中小企业信用担保体系需要专业的法律法规。就这一点而言中国有关中小企业信用担保行业的法律法规主要的公司法担保法。中小企业促进法以及由当地政府依据相关政策制定的部门规则和规范。其中公司法没有为担保机构制定特定条例担保法调整企业和自然人作为非专业保证作为并且关心债权人

37、的利益。但是没有明确解释专业担保机构进入市场和退出市场的机制业务范围和种类、员工资格财务内部控制制度行业自律和政府监管等问题。一些已出台的政策政府只能在狭小的范围适用因此我国现行保护担保行业的 法律制度的发展落后于工业的发展。市场准入、经营操作和市场退出是在一个自由放任主义的国家.这已经严重阻碍了中小企业信用担保体系的发展。3 Proposals to Perfect CreditGuarantee System 3.1To improve guarantee industrialization by establishing multi-modality guarantee institut

38、ion according to reality It s objective and essential for market economy to requireguara ntee acts to develop guara ntee in dustrializati on Accord ing to SME situati ons at differe nt stagesmulti modality guarantee institutions can be establishedThose SME which own weak primitive accumulated capita

39、l and scarce funds at the in itial stage can be supported by gover nment to be a driven guarantee structureFor other SME which begin to take shape on capital accumulatio n in rising phase of the developme ntthey can have chose n to become shareholders and establish private mutual guara ntee in stitu

40、ti ons based on the prin ciple of mutual ben efit and mutual assista nee 3.完善中小企业信用担保制度的建议3.1.根据实际建立多规模担保机构提高保证产业化市场经济发展担保行业需要实际行动是客观和关键的依据不同国家的中小企业现状 可以建立多规模的担保机构在初步阶段政府可以支持那些原始积累资金软弱基金稀缺的中 小企业成为驱动担保结构。对于其他中小企业资本积累阶段在不断发展开始成型他们可能已 经选择成为股东并且在互惠互利互助原则基础上建立私人互助性担保机构。32 To establishSME credit guara nte

41、e fund SME Credit Guara ntee Fund is mainly financed by gover nment and other in stituti on sgroups and releva nt commercial banks set up specialized age ncies to guara ntee for loans bankBut it also raises capital directly from the financial marketWhen guaranteed compa nies can not repay debtCredit