摘 要

民营企业对我国GDP贡献率高达60%以上，吸纳了70%以上的劳动力，提供了80%的城镇就业岗位，提供了90%的新增就业，而其中中小企业就占了大多数。这个“6789”的说法也印证，解决就业问题主要靠中小企业，中小企业发展得好，GDP才能有保证，才能维护社会稳定。我国为了保持这些经济微观细胞的活力，出台了很多政策，4月17日政治局提出的“六保”就体现了要刺激消费、启动内需的宏观基调，给困难群体发现金，给中产阶级发消费券，要让把流动性资金输给中小企业。一直以来，在我国中小企业贷款既难又贵，当中央银行放水给金融机构，资金却并没有到达实体经济，即使投放到了实体经济，也大多数是大机构、大企业拿走了金融资源，上千万个中小企业一点也拿不到。与美国相比，在美商业银行是私人企业，激烈的市场竞争下纷纷主动贷款给中小企业，市场已经有一个较为完善的风险控制机制，我们的征信系统缺失也就是一个重要的造成中小企业融资困境的原因。与此同时，近年来我国数字金融持续向好：基于数字技术的移动支付、购物社交场景牢牢黏住了成万上亿的移动终端，以及互联网巨头们依据海量沉淀数据，打破信息不对称，从个人“软信息”的角度来做信用评估、微金融等服务，可以说，数字金融增加了劳动力供给、增加了资本配置的有效性、增加了劳动生产率，拉动了GDP，也给中小企业融资开辟了新的道路。

本文以中小微企业的融资问题的困境为始，通过分析数字金融缓解中小企业融资约束的可能性，结合疫情特殊情况下维持中小企业金融健康出台政策的实施效果，为解决中小企业资金问题这一发展困境提供理论参考。

关键词：数字金融；中小企业；融资约束；

Abstract

Private enterprises contribute more than 60 per cent of our GDP, absorb more than 70 per cent of the labour force, provide 80 per cent of urban jobs and 90 per cent of new jobs, with small and medium-sized enterprises accounting for the majority. This "6789" statement also confirms that the solution to the employment problem mainly relies on small and medium-sized enterprises (SMEs), and that only when SMEs develop well can GDP be guaranteed and social stability be maintained. In order to maintain the vitality of these economic micro-cells, China has introduced a number of policies. The "six guarantees" proposed by the Politburo on April 17 embody the macro-economic tone of stimulating consumption and activating domestic demand, giving cash to the disadvantaged groups, issuing consumer vouchers to the middle class, and allowing the loss of liquidity to small and medium enterprises. All along, in our country small and medium-sized enterprises loans are difficult and expensive, when the central bank released water to financial institutions, but the funds did not reach the real economy, even if put into the real economy, most are large institutions, large enterprises took away financial resources, tens of millions of small and medium-sized enterprises can not get at all. Compared with the United States, commercial banks in the United States are private enterprises, and under the fierce competition in the market have taken the initiative to lend to small and medium-sized enterprises, the market already has a more perfect risk control mechanism, the lack of our credit system is also an important reason for the financing difficulties of small and medium-sized enterprises. At the same time, in recent years, China's digital finance has continued to improve: mobile payment and shopping social scene based on digital technology has firmly stuck to trillions of mobile terminals, as well as Internet giants based on massive precipitated data to break the information asymmetry, from the perspective of personal "soft information" to do credit assessment, microfinance and other services, it can be said that digital finance has increased the supply of labor, increased the effectiveness of capital allocation, increased labor productivity, boosted GDP, and also opened up a new path for financing SMEs.

This paper starts with the plight of financing problems of small and medium-sized enterprises (SMEs), analyzes the possibility of easing the financing constraints of SMEs through digital finance, and provides theoretical reference for solving the development dilemma of financing problems of SMEs by combining the implementation effect of policies to maintain the financial health of SMEs under special circumstances of the epidemic.

Key Words：digital finance；small and medium-sized enterprises (SMEs)；Financing constraints；

目录

第1章 绪论 7

1.1研究背景 7

1.2研究目的与意义 8

1.2.1研究目的 8

1.2.2研究意义 8

1.3国内外研究现状 8

1.3.1国外研究现状 8

1.3.2国内研究现状 9

1.3.3国内外研究现状评述 10

1.4研究内容与研究方法 11

1.4.1研究内容 11

1.4.2研究方法 11

第2章 中小企业融资困境成因 12

2.1中小企业融资特点及方式 12

2.1.2中小企业融资方式 12

2.2中小企业融资困境及其成因 13

2.2.1融资现状 13

2.2.2融资困境成因分析 13

第3章 数字金融促进中小企业融资的可行性分析 15

3.1数字金融及模式 15

3.2数字金融对中小企业融资的影响机理 15

3.2.1中小企业融资需求理论 15

3.2.2我国中小企业融资约束的机理分析 16

3.2.3数字金融对中小企业融资意义 16

第4章 数字金融促进中小企业融资现状及问题 18

4.1数字金融促进中小企业融资效果现状 18

4.2数字金融促进中小企业融资过程中存在的问题 21

4.2.1监管制度不完善，增加中小企业贷款风险 21

4.2.2信息安全风险 22

4.2.3传统金融数字化改革缓慢 22

第5章 增强数字金融对中小企业融资支持的建议 23

5.1防范数字金融风险提高中小企业融资利用率 23

5.1.1完善法律制度建设 23

5.2注重提升技术水平 23

5.3中小企业在数字金融环境下的自我完善 24

结论 25

参考文献 26

致 谢 27

1. 绪论

1.1研究背景

根据工信部数据，截至2018年底，全国中小企业数量超过3000万户，私营工业家庭超过70万户。他们为全国50%以上的税收、60%以上的GDP、70%以上的创新成果作出了贡献，提供了80%的城市工作场所、90%的新场所、国民经济和社会发展的新经济。

但与此同时，融资难融资贵问题一直困扰中小企业，截至2018年底，全国中小企业贷款未偿余额33.49万亿元，占各项未偿余额的23.81%，占企业贷款的32.91%。据中国银行估计，中国银行贷款公司的覆盖率为100%，中型企业的覆盖率为90%，小型企业的覆盖率低于30%，小型企业的覆盖率低于1%。，小微企业融资渠道以银行贷款为主体，融资渠道瓶颈化特征明显。银行对小微企业贷款利率往往在基准利率基础上浮30%左右，存在收取中间服务费用抬高小微企业融资成本等问题。根据温州民间借贷网测算小微企业融资平均成本在 15%—20%之间，远高于商业银行同期贷款利息。不难看出，小微企业对经济增长、就业、税收贡献度与获得金融支持之间不匹配，存在着金融歧视。