Auszug aus dem Vorwort:

Through their entrepreneurial spirit and willingness to take risks, private Chinese Small and Medium Enterprises (SMEs)have largely contributed to the impressive rise and success of China’s economy since the early 1980s. Yet their status concerning capitalization, access to modern financial instruments and internal risk control remains weak.

Since the 1990s, Konrad-Adenauer-Stiftung China has supported discussions on how to improve the legal and institutional framework for SMEs as an important pillar of modern, market based Chinese economy.

Especially in recent years, access to financial instruments and capital became one of the most urgent problems for private SMEs. Famous events as the Wenzhou credit crisis have attracted both national and international attention and have shed a light on severe shortcomings of the current Chinese banking and financial sectors.

The following paper analyses the reasons why SME are not sufficiently served by banks and other financial institutions and discusses a broad range of still available, yet not fully functional ‘tools’ to improve the access of SME to capital funds.

In his conclusions the author provides useful recommendations which will hopefully be considered in the further

process of (re)drafting and improving the legal and institutional framework of financing SMEs