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.

往來這種銀行他的這個(gè)就是說，它的一些信用情況他都有它的記錄，它的非常清楚，大家為了減少信貸風(fēng)險(xiǎn)，最高達(dá)50%的責(zé)任免除，這樣的貸款利率就上去了，這樣通過往來銀行的原則，大大提高政府自主的效率減少政府的風(fēng)險(xiǎn)，從政府資金發(fā)放上面來，再一個(gè)是信用體系，為了建立擔(dān)保銀行，在德國，擔(dān)保銀行并不是咱們國家政府包辦的體系，他是一個(gè)經(jīng)濟(jì)自主組織，就是說，他最初的倡議，是由工商會(huì)和聯(lián)合會(huì)提出來的，德國這方面的體系特別好，就是說，市場中介機(jī)構(gòu)、民間社會(huì)這樣中介機(jī)構(gòu)政府他們?nèi)骄o密合作，工商會(huì)他承擔(dān)一定的公共的事物，市場中介結(jié)構(gòu)他也承擔(dān)了一些政府的職責(zé)，他業(yè)務(wù)非常廣泛，包括中小企業(yè)咨詢、為中小企業(yè)資金進(jìn)行科研成果的轉(zhuǎn)讓，甚至于包括中小企業(yè)家族企業(yè)有一個(gè)繼承人的安排，他們也進(jìn)入擔(dān)保這方面。

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.

咱們講跟農(nóng)村信用社差不多，他們也是在地方經(jīng)營的，由于時(shí)間關(guān)系，剛才大家不是說了學(xué)習(xí)德國的成功經(jīng)驗(yàn)，融資隨著經(jīng)濟(jì)的發(fā)展，進(jìn)行不斷地調(diào)整，德國政府在這方面，在8技術(shù)上有它的很大的創(chuàng)新，進(jìn)行了很多的創(chuàng)新，所以大家可以看一看，我這里講到，一個(gè)融資支持突出特點(diǎn)，進(jìn)行新建企業(yè)，大家都知道，自有資金是非常大的問題，另外一個(gè)是將中小企業(yè)從地方和產(chǎn)業(yè)結(jié)構(gòu)政府相結(jié)合，這個(gè)大家提到扶持到地方結(jié)合起來，第三個(gè)就是說，進(jìn)行中小企業(yè)進(jìn)行創(chuàng)新，過去我們依靠銀行，直接信貸，德國有兩板三板市場，因?yàn)榈聡枪善蔽幕遣话l(fā)達(dá)的，現(xiàn)在偏好有所改變，現(xiàn)在很多特別是高新企業(yè)，另外利用風(fēng)險(xiǎn)投資市場，這樣也使得銀行他的金融風(fēng)險(xiǎn)也使得銀行信貸能力得到提高，關(guān)于德國中小企業(yè)融資知識(shí)對(duì)我國的啟示，我覺得大家基本上都講了，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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