The financing difficulties for small and medium-sized enterprises (hereinafter referred to as SMEs) have always plagued China’s economic and social stability, and they have become the focus of attention for all levels of government. In order to strengthen the financial support for SMEs in recent years the regulatory authorities have encouraged commercial banks to create specialized institutions for financial services, which have played a certain role but, at the same time, have also reflected many fundamental problems. These phenomena are analyzed and some strategies for reform are proposed in this article.
I. Current Development Status of Specialized Institutions for Financial Services
1. Credit center model with an independent quasi-legal person system
2. “Credit factory” model with a quasi-divisional system
3. Specialized credit center model with a sub-branch system
4. Specialized credit model with a hierarchical management system
II. Reforms in Specialized Institutions for Financial Services