外文文献：中国中小企业融资.pdf

EconomiX http://economix.u-paris10.fr/ Document de Travail Working Paper 2007-29 SME financing in China Chen Xiang LIU Université Paris X-Nanterre Maison Max Weber (bâtiments K et G) 200, Avenue de la République 92001 NANTERRE CEDEX Tél et Fax : 33.(0)9.07 UMR 7166 CNRS Email : secretariat-economix@u-paris10.fr Université Paris X Nanterre SME Financing in China LIU Chen Xiang Université Paris X-Nanterre EconomiX (CNRS-UMR 7166) Bâtiment K-115 200, Avenue de la République 92001 Nanterre Cedex Tél : 09.10 Fax : 09.10 Courriel : liu_chenxiang@yahoo.fr 1 SME Financing in China LIU Chen Xiang Abstract SMEs have a great contribution in China’s economic expansion. However, the financing predicament currently faced by SMEs constitute s a great bottleneck for their development. Banks are reluctant to lend to them, mainly due to the lack of collateral and their poor capability in pricing risk. This is the reason why credit guarantee institutions play a key role in SME financing and the perfection of the credit guarantee system is important for promoting their access to credit. In addition, the lifting of the ceiling on lending rates as well as other steps taken by ba