The Enlightenment Of German Smes' Financing Knowledge To China

Shi Shiwei: Thank you very much for giving me such an opportunity to talk about it.

There are many German experts here, I want to talk about what deficiencies or mistakes, and I hope they can add and point out. A paper I submitted for the conference is the revelation of financing innovation to China's small and medium enterprises. This topic may also be mentioned, that is to say, this aspect, but in fact, because everyone knows, especially German SMEs support this aspect is a very important support, they need to do basically, and he said this is the support system of small and medium-sized enterprises. He is not just like building a simple operation of these aspects, but rather as an important part of the German market economy system.

Since Germany was established in 1949, it has been established after the establishment of a social and economic system, and theoretically emphasizes the establishment of a fair competition order. That is to say, the German liberalism idea emphasizes that it is necessary to establish a competition order, and now it is not necessary to compare it. Now, for example, in terms of the access of small and medium-sized enterprises, there is competition freedom and freedom of career choice in the constitution. These freedoms ensure that SMEs can enter various industries. In other words, they emphasize the principle of competition. A very important competition legislation has just emphasized the need to maintain fair competition and oppose monopoly.

At the same time, there are special provisions for small and medium-sized enterprises in the competition law, that is to say, small and medium-sized enterprises can be exceptions. Generally speaking, the competition law knows that there are several aspects. One is that enterprises can not engage in such cooperation agreements on price and share. But small and medium-sized enterprises can engage in small and medium-sized enterprises. They can also engage in buyer and seller alliance.

In addition, from Germany's support system for small and medium-sized enterprises, it also has its main characteristics. Like the SME Bureau of the United States, Germany has no SME Bureau. Germany is a federalist country. It is based on local characteristics.

In addition to the competition law and constitution, each continent has its own SME law, that is to say, according to the different conditions in different continents, the development of SMEs is based on the law of small and medium enterprises.

In other words, he also has a very important feature of SMEs, so I also combine financing, I just talked about some systems, financing is a very important aspect, is the core of SME support system, so combined with this paper, I would like to tell you that the method proposed in this paper is also mentioned. SME financing is a common problem. It needs support. In theory, it is the failure of SMEs support system, lack of management experience, but to establish a more effective support system for small and medium enterprises, if you want too many state intervention, there will be a national government failure.

Germany has some good practices in the specific operation in this respect, so I would like to talk about it from the financing system.

One is the principle of helper, and the other is the principle of German dealings. As long as the market is to do something, let the market do it, and the state is only supportive.

How do we look at this? There are two specialized banks specialized in supporting German SMEs. One is called the German life bank, the other is called the German bank. It is supposed to be streamlined and the two banks merged into the seventh largest bank in Germany. Although it is a government institution, he is also a bank. That is to say, we should consider whether a Chinese bank such as a small and medium-sized enterprise bureau should be set up.

After the recovery of the special fund, but this is not the majority of his support for financing, and more than 80% of the support from the national policy bank is based on the credibility of the government. That is, in 2000, they said that the total investment of the two banks was about 30 billion of the funds invested by Mark, which led to a large amount of market funds. That is, he only accounted for 2-3% of the German subsidy, which was very conscious of Germany. In other words, from the issuance of funds, the government's independent loans were not directly issued to the enterprises. Therefore, the bank said that Germany had a special institutional arrangement, and the enterprises chose one or several banks, which had business contacts with the bank for a long time. His source of government funded credit is diversified, partly from the state funding, partly from World War II.

往来这种银行他的这个就是说，它的一些信用情况他都有它的记录，它的非常清楚，大家为了减少信贷风险，最高达50%的责任免除，这样的贷款利率就上去了，这样通过往来银行的原则，大大提高政府自主的效率减少政府的风险，从政府资金发放上面来，再一个是信用体系，为了建立担保银行，在德国，担保银行并不是咱们国家政府包办的体系，他是一个经济自主组织，就是说，他最初的倡议，是由工商会和联合会提出来的，德国这方面的体系特别好，就是说，市场中介机构、民间社会这样中介机构政府他们三方紧密合作，工商会他承担一定的公共的事物，市场中介结构他也承担了一些政府的职责，他业务非常广泛，包括中小企业咨询、为中小企业资金进行科研成果的转让，甚至于包括中小企业家族企业有一个继承人的安排，他们也进入担保这方面。

However, since the guarantee business is a capital intensive enterprise, he needs the corresponding capital guarantee. The industry and handicraft industry association, the government as a guarantee, one is the guarantee bank as a non-profit organization, he pays the enterprise income tax, and the federal government and the state government undertake a certain amount of re guarantee. That is to say, in this case, the federal government submits the guarantee to the government through the European revival plan, and is supervised by the German banking department. Generally, it guarantees that he only guarantees 80% loans. He is generally not 100% guarantees.

In other words, Germany is a federalist country, so Germany has another feature, which fully mobilizes the resources of different governments in different states to diversify financing projects, so that the most direct institutions of subsidized projects, the principles of regionally and decentralization I speak, especially emphasize his outstanding banking system.

He believes that the three pillars of the banking system, he stressed that although Germany has a large bank, unilaterally, the total assets of up to more than 10000 small banks, they are only local jobs, they do not allow cross regional competition, this is also said that this is not good, there are many factors to offset, but from the perspective of SMEs support, there is a good system.

咱们讲跟农村信用社差不多，他们也是在地方经营的，由于时间关系，刚才大家不是说了学习德国的成功经验，融资随着经济的发展，进行不断地调整，德国政府在这方面，在8技术上有它的很大的创新，进行了很多的创新，所以大家可以看一看，我这里讲到，一个融资支持突出特点，进行新建企业，大家都知道，自有资金是非常大的问题，另外一个是将中小企业从地方和产业结构政府相结合，这个大家提到扶持到地方结合起来，第三个就是说，进行中小企业进行创新，过去我们依靠银行，直接信贷，德国有两板三板市场，因为德国是股票文化，是不发达的，现在偏好有所改变，现在很多特别是高新企业，另外利用风险投资市场，这样也使得银行他的金融风险也使得银行信贷能力得到提高，关于德国中小企业融资知识对我国的启示，我觉得大家基本上都讲了，就是

As we all have said, what I have just said is that the German government is combining the small and medium sized enterprises with the non-governmental organizations and the market. I call him the duty capacity. The government should be faithful and take into account the interests of the whole people.

Author: Shi Shiwei (Professor of Sino German Institute of University of International Business and Economics), the author's speech at the International Symposium on SME policy and international cooperation on SME Cooperation.

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