最新中小企業(yè)融資英文文獻(xiàn)資料

1、中小企業(yè)融資英文文獻(xiàn)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 eckwhic

2、h 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 modes of

3、 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對中國中小企業(yè)信用擔(dān)保體系的分析摘要目前中國中小企業(yè)的進(jìn)一步發(fā)展仍然受到很多約束尤其是中小企業(yè)融

4、資問題已經(jīng)成為制約的瓶頸。這是因?yàn)橹行∑髽I(yè)不健全的信用擔(dān)保體系造成的基于中國中小企業(yè)擔(dān)保體系和它的問題本論文通過正常的分析提出了完善中國中小企業(yè)的擔(dān)保體系的的建議。為了使保障體系發(fā)揮其應(yīng)有作用有必要根據(jù)實(shí)際情況建立不同的信用擔(dān)保機(jī)構(gòu)模式。建立中小企業(yè)信用保證基金及其輔助系統(tǒng)。調(diào)整保證基金的運(yùn)營模式提高信用擔(dān)保系統(tǒng)的法律保護(hù)。KeywordsSMEsmall and medium sizedenterprisescredit guarantee systemcredit guarantee fund 1 Introduction The present situation of credit g

5、uarantee 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 guarante

6、e 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 agencies w

7、hich 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 regu

8、lation and provision 1介紹 中國信用擔(dān)保體系的當(dāng)前現(xiàn)狀中國中小企業(yè)信用擔(dān)保體系由一個身體和兩個翅膀構(gòu)成身體指城市、省份和國家信用擔(dān)保系統(tǒng)。國家中小企業(yè)信用再擔(dān)保機(jī)構(gòu)為省中小企業(yè)信用擔(dān)保機(jī)構(gòu)提供服務(wù)省中小企業(yè)信用擔(dān)保機(jī)構(gòu)為城市中小企業(yè)信用 擔(dān)保機(jī)構(gòu)服務(wù)城市中小企業(yè)信用擔(dān)保機(jī)構(gòu)為社區(qū)互助機(jī)構(gòu)和商業(yè)擔(dān)保機(jī)構(gòu)提供服務(wù)和業(yè)務(wù)。兩個翅膀”指為城市和農(nóng)村社區(qū)服務(wù)的互助擔(dān)保機(jī)構(gòu)和商業(yè)擔(dān)保機(jī)構(gòu)。兩者都是中小企業(yè)從事直接擔(dān)保業(yè)務(wù)的基礎(chǔ)。商業(yè)擔(dān)保機(jī)構(gòu)和互助性擔(dān)保機(jī)構(gòu)享受再擔(dān)保服務(wù)并且分擔(dān)中小企業(yè) 按照國家規(guī)定和條款應(yīng)承擔(dān)的風(fēng)險。Si nee l 998the credit guara ntee

9、 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 are su

10、pported 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 gover nm

11、en 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 自從1998年信用擔(dān)保體系應(yīng)經(jīng)在中

12、國建立依據(jù)國家發(fā)展和改革協(xié)會的調(diào)查到 2006年年底將有3366家擔(dān)保機(jī)構(gòu)在中國包括359個省擔(dān)保機(jī)構(gòu)和1665個互助性機(jī)構(gòu)668個機(jī)構(gòu)將由政府建立629個機(jī)構(gòu)通過融資建成2049個由非政府資助而成。將有2863個公司法人381個事業(yè)單位和122個司法協(xié)會。保證機(jī)構(gòu)籌集資本總額達(dá)123.258億元其中35.746億元由政府貢獻(xiàn)占總數(shù)的29。擔(dān)保公司上升至379.586擔(dān)保資本達(dá)到805.187億元在3366個擔(dān)保機(jī)構(gòu)服務(wù)中有 128.0000個服務(wù)他們的擔(dān)保資金在一百萬元以下的占總數(shù) 的 85.8. 12 The present situation of credit guarantees s

13、ystem 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 forme

14、d 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 Kong

15、 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外國信用擔(dān)保體系現(xiàn)狀日本是世界上最先建立中小企業(yè)信用擔(dān)保體系的1937年在東京建立東京信用擔(dān)保協(xié)會1958年設(shè)立了國家中小企業(yè)信用保險公司和國家信用擔(dān)保機(jī)構(gòu)兩者組成了為中小企業(yè)服務(wù)的國家信用擔(dān)保體系他們聯(lián)合中央和地

16、方政府共同分擔(dān)擔(dān)保和再擔(dān) 保的風(fēng)險。后來美國。德國和加拿大分別在19531954和1961年開始為中小企業(yè)實(shí)施信用擔(dān)保體系。臺灣和香港也在1974年和1998年實(shí)施。市場經(jīng)濟(jì)越是發(fā)展信用擔(dān)保體系越完善以 這種方式將提供巨大的財(cái)政支持中小企業(yè)。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 that

17、 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 diffi

18、culties 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 market

19、 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 impossi

20、ble 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 我國信用擔(dān)保體系存在的主要問題2.1中小企業(yè)信用擔(dān)保體

21、系的結(jié)構(gòu)問題中小企業(yè)信用擔(dān)保體系主要結(jié)構(gòu)問題就是政府過多的擔(dān)保機(jī)構(gòu)和擔(dān)保貸款而私立物擔(dān)保包括互助性擔(dān)保和 商業(yè)擔(dān)保僅有一點(diǎn)比例?？傊行∑髽I(yè)信用擔(dān)保是一個市場現(xiàn)象因?yàn)樗饕怯捎谥行∑髽I(yè) 財(cái)務(wù)困難。在市場經(jīng)濟(jì)中政府像微觀調(diào)控者和社會管理者樣的存在并且操作和規(guī)范市場制定 和維持市場規(guī)則政府明顯沒有憲法基礎(chǔ)和能力去解決市場問題另外因?yàn)橹行∑髽I(yè)貸款缺口 是一個市場現(xiàn)象市場本身有機(jī)制、動機(jī)和能力來解決這個問題就是說私人資本給中小企業(yè)貸22 The款市場提供了貸款擔(dān)保。實(shí)際上由于中小企業(yè)的數(shù)量多范圍廣個人化的貸款需求每年有越來 越多的企業(yè)政府沒有足夠的資金不可能充當(dāng)中小企業(yè)擔(dān)保體系的領(lǐng)導(dǎo)者去踐行微觀控制

22、和 社會管理的功能。所以中小企業(yè)信用擔(dān)保體系不需要也不可能過多的依賴政府。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 pers on

23、n 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 cha

24、rge 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 mec

25、hanism 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 spe

26、cialized 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 the lo

27、a 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 asp

28、ect 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 guaranteed

29、 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中小企業(yè)信用擔(dān)保體系的操作管理問題中小企業(yè)信用擔(dān)保體系的操作管理問題主要反映在

30、四個方面資金補(bǔ)償機(jī)制風(fēng)險分散機(jī)制擔(dān)保種 類和擔(dān)保人員。政府擔(dān)保機(jī)構(gòu)的的資金來源主要來源于金融資金當(dāng)?shù)卣馁Y產(chǎn)還有補(bǔ)充的 保障費(fèi)。不管怎樣盡管政府擔(dān)保機(jī)構(gòu)作為一個非盈利機(jī)構(gòu)僅要很低的保險費(fèi)但是當(dāng)?shù)刎?cái)政資 源和資產(chǎn)是一次性投資。因此政府擔(dān)保機(jī)構(gòu)缺少基金補(bǔ)償機(jī)制這就是為什么銀行害怕為中小 企盡釋放太多的貸款管有如此多的政府擔(dān)保機(jī)構(gòu)商業(yè)擔(dān)保機(jī)構(gòu)也同樣缺少這樣的機(jī)制因?yàn)闆]有足夠的資金力量。大多數(shù)的商業(yè)擔(dān)保機(jī)構(gòu)使用高擔(dān)保費(fèi)用作為基金的補(bǔ)償。一些機(jī)構(gòu)依照保證貸款利率的一半收取保證費(fèi)用還有些機(jī)構(gòu)收取超過它。事實(shí)上中小企業(yè)需要特別的擔(dān)保機(jī)構(gòu)因?yàn)樗麄兊男庞枚绕图炔缓细癖ＷC事情也不找一個非金融中介機(jī)構(gòu)的擔(dān)保人。

31、太多的柜臺擔(dān)保機(jī)構(gòu)的擔(dān)保需求導(dǎo)致機(jī)構(gòu)不能解決貸款困難使得中小企業(yè)提出了過多的擔(dān)保申 請違反了建立中小企業(yè)擔(dān)保體系的目的。擔(dān)保行業(yè)是一個高度專業(yè)的這就需要人員不僅有財(cái)務(wù)、安全及其他知識但也非常熟悉每一方面的業(yè)務(wù)。除了人才缺乏我國還沒有為違反擔(dān)保條約建立一個合適擔(dān)保資格和處罰機(jī)制。這也導(dǎo)致了現(xiàn)有的從業(yè)人員沒有能力勝任這項(xiàng)工作擔(dān)保品種很少而起擔(dān)保時間很短.目前大部分貸款時間十六個月沒有超過一年擔(dān)保事項(xiàng)基本上 局限于長期貸款擔(dān)保如流通股本罕見的設(shè)備、技術(shù)創(chuàng)新等。23 The lag of credit guaranteelegal con struct ion As an importa nt com

32、p 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 local r

33、egulations 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 the cr

34、editors 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 issu

35、ed 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 and

36、 market withdrawal are in a laissez faire statewhich has seriously hindered the sou nd developme nt of the credit guara ntee system 2.3信用擔(dān)保法律制度的嚴(yán)重滯后作為國家金融支持政策重要的組成部分中小企業(yè)信用擔(dān)保體系需要專業(yè)的法律法規(guī)。就這一點(diǎn)而言中國有關(guān)中小企業(yè)信用擔(dān)保行業(yè)的法律法規(guī)主要的公司法擔(dān)保法。中小企業(yè)促進(jìn)法以及由當(dāng)?shù)卣罁?jù)相關(guān)政策制定的部門規(guī)則和規(guī)范。其中公司法沒有為擔(dān)保機(jī)構(gòu)制定特定條例擔(dān)保法調(diào)整企業(yè)和自然人作為非專業(yè)保證作為并且關(guān)心債權(quán)人的利益。

37、但是沒有明確解釋專業(yè)擔(dān)保機(jī)構(gòu)進(jìn)入市場和退出市場的機(jī)制業(yè)務(wù)范圍和種類、員工資格財(cái)務(wù)內(nèi)部控制制度行業(yè)自律和政府監(jiān)管等問題。一些已出臺的政策政府只能在狹小的范圍適用因此我國現(xiàn)行保護(hù)擔(dān)保行業(yè)的 法律制度的發(fā)展落后于工業(yè)的發(fā)展。市場準(zhǔn)入、經(jīng)營操作和市場退出是在一個自由放任主義的國家.這已經(jīng)嚴(yán)重阻礙了中小企業(yè)信用擔(dān)保體系的發(fā)展。3 Proposals to Perfect CreditGuarantee System 3.1To improve guarantee industrialization by establishing multi-modality guarantee institution

38、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 capital an

39、d 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 stituti o

40、ns based on the prin ciple of mutual ben efit and mutual assista nee 3.完善中小企業(yè)信用擔(dān)保制度的建議3.1.根據(jù)實(shí)際建立多規(guī)模擔(dān)保機(jī)構(gòu)提高保證產(chǎn)業(yè)化市場經(jīng)濟(jì)發(fā)展擔(dān)保行業(yè)需要實(shí)際行動是客觀和關(guān)鍵的依據(jù)不同國家的中小企業(yè)現(xiàn)狀 可以建立多規(guī)模的擔(dān)保機(jī)構(gòu)在初步階段政府可以支持那些原始積累資金軟弱基金稀缺的中 小企業(yè)成為驅(qū)動擔(dān)保結(jié)構(gòu)。對于其他中小企業(yè)資本積累階段在不斷發(fā)展開始成型他們可能已 經(jīng)選擇成為股東并且在互惠互利互助原則基礎(chǔ)上建立私人互助性擔(dān)保機(jī)構(gòu)。32 To establishSME credit guara ntee 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 debtCred