中小民营企业融资政策研究

摘要
    民营企业尤其是中小民营企业融资问题是一个世界性难题，中国的中小民营企业融资难的问题除了企业自身的弱势之外，还有非常明显的体制性缺陷。
    本文以中小民营企业存在的一般问题为切入点，通过分析指出:我国的金融市场是一个受到抑制的金融市场;我国的中小民营企业的融资环境与经济结构不对称。政府人为的进行金融资源的配置，企业的融资能力受到明显的扭曲;中小企业普遍存在着融资困难，中小民营企业无论是外源融资还是内源融资困难重重。中小民营企业在发展过程中存在融资歧视，比如所有制歧视、信贷市场歧视、资本市场歧视等。同是，民间资本的支持非常有限。
    从中小民营企业融资环境现状分析和体制根源分析出发，借鉴国外扶持中小民营企业主要政策措施。文章提出了一系列解决民营企业融资难问题的政策建议，从完善金融体系，加快改革尤其是金融机构改革看，应打破民营企业融资难的体制束缚，尽快构造有利于民营企业发展的金融机构体系;从加强信用制度建设，建立中小民营企业担保体系看，应为民营企业融资创造良好的经济社会环境;从发展风险投资看，应改善我国风险投资来源单一的现实状况，拓宽风险投资的渠道。随着市场经济体制的逐步确立和完善，金融市场的发展和健全，政策环境改善和完备，风险投资机制也将进一步的建立和完善，还应建立中国的二板市场，发展直接融资;同时，还要系统地推进和完善中小民营企业融资的配套体系。

关键词:民营企业融资风险投资政策研究

ABSTRACT
    Financing question of the private enterprise especially the medium and small private
enterprise is a world difficult problem，medium and small private enterprise financing
besides enterprise's own weak tendency difficult problem of China, and very obvious
systematic defect.
    This text regards general problem that the medium and small private enterprise exists
as the break through point, point out through analysing: The financial market of our
country is a financial market suppressed;The financing environment of the medium and
small  private  enterprise  of  our  country  and  economic  structure  are  asymmetric.
Government people for carry on disposition of resource not financial,receive obvious
distortion of financing ability of enterprise; Small and medium-sized enterprises generally
have financing difficulty, no matter the medium and small private enterprise is other
source financing or endogenous financing is beset with difficulties. The medium and small
private enterprise has financing that is discriminated against in the course of developing,
for example ownership is discriminated against, the lending market discriminates against,
the capital market discriminates against etc., folk support of capital very limited.
    Origin  analyse  set  out  from  medium  and  small  private  enterprise  financing
environmental current situation between analysis and system, draw lessons from and
support the main policies and measures of medium and small private enterprise foreignly.
The article has proposed that a series of solves the policy recommendations of the difficult
problem of financing of private  enterprise, from perfecting the financial system，
accelerate the reform，especially financial administrative structure reform to read, should
break private enterprise financing difficult system fetter，is it favorable to private
enterprise system of financial institution of development to construct as soon as possible;
From strengthen credit institutional improvement，set up medium and small private
enterprise guarantee system think, should create the good economic social environment
for financing in the private enterprise;From develop risk investment watch，should
improve of our country risk investment source single realistic state, widen the risk
investment channel .With the gradual establishment and perfecting of the market
economic system, the development and improvement of the financial market, policy
environment improve and not complete, risk investment too further foundation and
perfection mechanism, should also set up the second board market of China，develop
direct financing; Meanwhile，also want the related system of advancing and perfecting
financing of medium and small private enterprise systematically.
Keywords:  private enterprise  financing  risk investment  policy research