RUC-BK-113-110204-11271337200111271337,,,1Foralongtime,small-mediumsizedenterpriseshaveplayedimportantrolesindevelopmentofnationaleconomyconstruction.However,therearemanyfactorsrestrainingdevelopmentofsmall-mediumsizedenterprisesinChina,speciallyfinancingbottle-neck.Itisnecessarytosettletosolvethefinancingproblem.First,weshouldanalyzethefinancingproblemsofsmall-mediumsizedenterprisesandmakecorrespondingsteps.Thispapermainlyanalyzethepresentingconditionsandthecausesoffinancingplightfromthefollowingthreeaspects:Nationalmacro-policyFinancialsystemqualityoftheenterprisesitself,thenwecometotheconclusion.Theyaretheprincipalfactorswhichmakethesmall-mediumsizedenterpriseshardtofinance,suchastheimperfectionsocialfinancingsystemimmaturityofcreditwarrantyasymmetricinformationoftheenterprisesunsoundsystemofenterprisesthemselvesthelowcreditsandsoon.Onthebasesofbenefitingfromforeignexperiencesandfundamentalrealitiesofourcountry,wewillgetdowntoimprovethequalityoftheirown.Atthesametime,wealsoacceleratetobuildmulti-levels,all-dimensional,perfectsupportivefinancingsystemandimprovethemacro-policyenvironment.Inthiscase,wecanensurethequickandhealthydevelopmentofsmall-mediumsizedenterprisesandevenourwholenationaleconomy.190%60%200311200468.83.744.238.2%19992002651%50.3%50%49.9%49%49.7%50%51.1%,1.129.2%70%19986143.357.74%92.27%53.85%46.15%1,,,23.7%52.7%220001112331213300040%50001000100019993.78%2.15%83%()116.27%60.47%23.26%20033120%12,200110953277.4120.90.27%(1),(2)NASDAQ(3),,,,(4)112312119983NASDAQ4[M]2003P47115(1)(2)(3)(4)61[M]2002111270%-80%75%20016%31,,,411..,2001(5).2..,2003(10).3..,2003(11).4../,2003(11)5..,2001(10)6..,20017..,20031