中小企业融资难外文翻译.docx

中小企业融资难外文翻译.docx

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中小企业融资难外文翻译

 SmefinancingproblemsrelatedtotheanalysisFirstsmallandmedium-sizedenterprisesfinancingstatusReformandopeningupchinafor30yearsofsmallandmedium-sizedenterprisesobtainedarapiddevelopmentofenterprises99ofthesmallandmedium-sizedenterprisesofourcountrymorethan60GDPcontributiontaxover50provides70ofimportandexporttradeand80ofurbanjobs.Smallandmedium-sizedenterprisesinourcountryisalsoanimportantpowerofindependentinnovation66ofinventionpatent82ofnewproductdevelopmentofsmallandmedium-sizedenterprisesfromsmallandmedium-sizedenterpriseshasbecometheeconomicprosperityexpandingemploymentadjustingstructurepromoteinnovationandnewindustriesofimportantstrength.From80yearssincetheoutbreakoftheinternationalfinancialcrisistheimplementationofthepositivefiscalpolicyandlosermonetarypolicybutnosmallandmedium-sizedenterprisesfromtheproactivefiscalpolicyandmoderateloosermonetarypolicybenefitdirectlyforinstanceofthenew2008225millionsmallloanonlymorethanpreviousyearbutrose1.4onlytheloansincreased14.909yearthreemonthsofnationalcreditincreased48trillionincludingloanstosmallandmedium-sizedenterprisesincreasedamountonlylessthan5.Currentloanfinancingdifficulthasbecomethebottleneckofrestrictingthedevelopmentofsmallandmedium-sizedenterprisesandsmallandmedium-sizedenterpriseproductionandmanagementfaceddifficultiesaccordingtothestatestatisticalbureauofstatisticsandletteruntiltheandof2008inthesmallandmedium-sizedenterprisesofproductionorcollapseclosedaccountsforabout7.5theurbanemploymentthissituationisnotonlymoredifficulteconomicrecoveryinfluenceanddirectlyaffectthegrowthanddevelopmentofpeople’slivelihoodstabletarget.InthissensetheinternationalfinancialcrisisundertheimpactofChina’seconomycouldnotreallylowthekeyisoutofsmallandmedium-sizedenterprisesvitalitycanbefullyrecovered.SecondthesmefinancingreasonanalysisSmeloansandfinancingisacosmopolitanshouldsayseebothfromChinaandmechanismofmediumandsmallandmedium-sizedenterprisestherearethreemainreasons:

firstthemediumandsmallandmedium-sizedenterprisessmallandmedium-sizedenterprisesgenerallyweakawarenessofhonestysimilartoafewofthecommonphenomenonmayreportontaxonsomelessuglystatementsinBanksthisintersectionsomemayformgood-lookingsuchloanspointisreliablebecameaproblem.Butthisapproachisveryadverseinsteadofenterprisesthedevelopmentofsmallandmedium-sizedenterprisesarenothealthyweimagineifseveraldepartmentswithallthosetogetherthefirstthisenterpriseisnotsincerehewillhaveafoothold.Wemanufactureandexport-orientedsmesinhumanresourcestechnologycapitalmarketenvironmentfacedfinancialcrisistherewasahugepressurethedevelopmentofitistherootcauseofthescientificandtechnologicalcontentoftheenterprisetheinnovationabilityofhighenoughtoenterthemarketisweakthelowthresholdthefiercecompetitioninthemarketwillincreasethesearenotgoodforthedevelopmentofsmallandmedium-sizedenterprises.Secondfromthebankforsmallandmedium-sizedenterprisecreditconditionsstricterbecausewearemostBandsitisalsoconsideredcommercialbanktheriskoftheirownprofits.Totheendof2008thesmallbadloansishigherthanthatoftheentirebankingindustryrelieslowcomemampasolvingsomeproblemsburtheloansofthesmallandmedium-sizedenterpriseslikeabigproblemoncecountrieswillstillenterprisesespeciallythosesmallproblemsoncethebankruptcynobodytubesotheloanqualitycannotguaranteedsointhismanagementsystemtoreducetherisksthebankwilldemandofsmallandmedium-sizedenterprisesinprovidingenoughafterpawndareloan.Anotherbankfromtheoperationcostofsmallandmedium-sizedenterprisesdoloanswillpaymoremanpowersoalsodoesnotwanttoextendloanstosmallandmedium-sizedenterprisesAbankoperatingcoststhehalfislaborcostsmallandmedium-sizedenterprisesespeciallydosmallveryhighlaborworkloadbutitisthebenefitofdifferenttimes.Thirdthesmefinancingchannelistoonarrowandsmallandmedium-sizedenterprisesinthecapitalmarketshavedirectfinancingwaysofsecuritiesmarketincludingsmallplateandgemAndprivateequityfundsindustrialinvestmentfundsventureinvestmentfundsriskinvestmentfundsandthebondmarketetc.Butsincethesept.252008thesmallplatemarketsecuritiesissuedafterhuachangchemicalandclosedthedoorjustrecentlyIPOtorestarttheIPO.Butgemis“tenyears”goodswordpeopleuntilnowonlybevivivdlyportrayed.Althoughwithgemlistingconditionsbutalotofsmallandmedium-sizedenterprisestofinancingformanyenterprisesitisstillaluxury.Inoverseassmallandmedium-sizedenterprisesintheprocessofgrowingonlyrelyonbankloanfinancingmanytimesisaventureinvestmentriskorthehelpofsmallandmedium-sizedenterprisesinChinahowevercangrowinthebasicoffinancingShenzhenhas3000venturecompanywitharegisteredcapitalof6000billionbutnocompanyiswillingtostartupinvestmententerprise.Thecompanyismorematurecanthefancyofthesecuritiesmarketandgem.ThirdthesmefinancingdifficultyinsolvingtheproblemaFromtheAngleofthegovernment1.ThegovernmentshouldrelaxmarketaccesscontrolreducingbarriersletmoresmallerBandssmallandmedium-sizedenterprisesinserviceforthestrategicpositioningogthosesmallBankstobitterfleabanebitterfleabane.DynamicdevelopmentNowChinaisprobablymorethanahundredvillagesandtownsofthebankbankestablishedtoimprovethebottleneckoftheeconomicinvestmentcountyincludingimprovingagriculturedevelopmentofsmallandmedium-sizedenterprisesandsupportwillplayaveryimportantrole.Forexistingfivestate-ownedBanks.Shouldbeencouragedtodeveloptheirownbusinessesforthefinancingofthespecializedagenciesrelaxitshasbranchesandencouragetheminthelandandcountytownshipevenclosertoprovidefinancialservicesandmoreconvenient.2.ThegovernmentshouldhelpBankstoestablishacreditsystemfurtherreducingtheirinformationcostinourcountrythecentralbanksince1998enterprisecreditsystemconstructionwasstartedbythespecializedagenciescollectionandstoragesortinganalysisanduseofenterprisecreditinformationtoguardagainstcreditrisksmaintainstablefinancialmarkerIn2006thecentralbankandsmallandmedium-sizedenterprisescreditsystemtoestablishthecreditsystemhopetocoverthoseandfinancialinstitutionshavenocreditrelationsofsmallandmedium-sizedenterprises.Ofcoursethecreditsystemisnotonlybythegovernmentandnowhassomenetworkcompanyforexampletrytouselabara.Cominonlinetransactioninformationintosmallandmedium-sizedenterprisescreditindextheindexofcreditifoutofthebanktofurtherreducethecostofinformation..3.Thegovernmentshouldseveralofbankriskcompensationthelocalinterestriskcompensationmechanismandpolicyjustcompensationfundistosolvethesmefinancingwayandcannotbefundamentallysolved.Astotheendfujianprovinceofbadloansissmallloans6071buttheaveragelevelofbankingisatwopercentwhileafewriskcompensationjustto0.8percentonlyasmallpartSomanyofbankriskcompensation.Asalloftheloanstosmallandmedium-sizedenterprisesthenaccordingtothebankloansreduceitstaxbusinesstaxincometaxreductionCountriescanhelpenterprisestoimprovebankinterestriskandreturnIftheloanlossesthegovernmentformedbyriskcompensationfundtopatchupitthismakesbifbusinessloansandsmallandmedium-sizedenterprisesloantoachievethebalanceisthebasicyields.4.Thegovernmentshouldactivelypromotethemulti-levelcapitalmarketsysteminordertobettersatisfyallkindsofsmallandmedium-sizedenterprisesincludethefinancingneedsofenterprise.Differenttypesofsmallandmedium-sizedenterprisesthedevelopmentstageisendlessandsamedeterminesthesmefinancingneedsisnotthesameSosmallandmedium-sizedenterprisesgroupsofdifferentiationdeterminesthediversifiedfinancingneedsthensatisfysmefinancingdemandalsoneedsthevariousformsoffinancingmodesuchasbankloansbondsequityfinancingetc.200to4yearsinShenzhenstockexchangemediumplatefoundedbupromotingcapitaltechnologymanagementandtheeffectivefactorsofhighqualityascultivatingboardalsotopromotetheupgradingofindustrialstructureisplayingapositiverole.InOctober2009gemofficiallylaunched.Foundedboardwillprovideforindependentinnovationpromotingeffectivesupervisionmechanismofsmallandmedium-sizedenterprisesinthenewdevelopmentstage.Butformorethanforsmallandmedium-sizedenterprisesarelistedtosolvethiskindofconditionenterprise’sequityfinancingstocktransfertoavalidtheover-the-countermarkerIn2006Chinalaunchedfeijoint-stockcompanylistingfortradingofsecuritiescompaniesenteringthepilotworkBesidesthegovernmentshouldvigorouslypromotethedevelopmentofthebondmarketbondfinancingforsmallandmediumenterprisestoprovidemoreconvenientinthedevelopedcountriesthebondmarketisthemainfinancingfinancingintheUnitedStatesforexample2008thecompanybondsiscirculationstockcirculationof5timeswiththeUnitedStatesEuropeandothercountriesandregionsinthebondmarketalsohasthebigdevelopmentspace.bFromthebankangleIfrelyontheexistinginthebankingfinancialproductsandsmeloanstosolvethedifficultyinfinancingsmesisimpossiblewecannotchangethepresentsituationofsmallandmedium-s