破解我国科技型中小企业融资难的密钥——科技银行经营模式解析

The Key Approach to Difficulties in High-tech SME Financing: The Analysis on the Operation Mode of Sci-tech-based Banks

对于科技型中小企业,创业者更愿意引入商业银行等金融机构提供的债权性资金,而不愿引入权益资本稀释股权。但科技型中小企业这种高增长、高盈利以及高风险的突出特点与商业银行的经营准则之间有着结构性矛盾,造成债权性资金不能大量进入处在这一发展阶段的科技型中小企业。而科技银行主要通过债权的方式参与企业经营,从企业利用风险投资再融资和第三方机构的投资获得偿还。科技银行的经营模式正是解决国内科技型中小企业的融资难问题的密钥。我国要利用现有的商业银行模式,建立专门为科技型中小企业融资服务的科技金融新模式。

As for high-tech SME, starters prefer debt capital provided by commercial hanks rather than equity capital to dilute shares. But such characteristics of high-tech enterprises as high increase rate, high profit and high risk structurally conflict with the present operational rules of commercial banks in China, leading to the failure of debt capital to pump into those companies in a certain stage. Sci-tech-based banks mainly invest in SME a creditor and get the return by refinancing by venture capital or investment by the third party. The operation mode of Sci-tech-based banks provides a key to solve difficulties in high-tech SME financing. This paper analyses the operation mode of the banks and suggests that China take advantage of the present mode of commercial banking to establish a new mode of sci-tech financing for SME in particular.