Financing without Bank Loans New Alternatives for Funding SMEs in C
This book covers all important financial innovations for SME financing, and combines theoretical analysis and real world practices employed in China’s financial market. As China is increasingly becoming a key player in the global economy, the book helps r
- PDF / 2,420,333 Bytes
- 183 Pages / 453.543 x 683.15 pts Page_size
- 24 Downloads / 172 Views
ancing without Bank Loans New Alternatives for Funding SMEs in China
Financing without Bank Loans
Jiazhuo G. Wang Juan Yang •
Financing without Bank Loans New Alternatives for Funding SMEs in China
123
Juan Yang HSBC Business School Peking University Shenzhen, Guangdong China
Jiazhuo G. Wang School of Business College of Staten Island City University of New York Staten Island, New York, NY USA
ISBN 978-981-10-0900-6 DOI 10.1007/978-981-10-0901-3
ISBN 978-981-10-0901-3
(eBook)
Library of Congress Control Number: 2016936416 © Springer Science+Business Media Singapore 2016 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper This Springer imprint is published by Springer Nature The registered company is Springer Science+Business Media Singapore Pte Ltd.
Preface
On June 3, 2013 at a finance summit in Shanghai, Jack Ma of Alibaba “opened fire” on the commercial lending provided by the large state-owned commercial banks in China, criticizing the fact that their loans earned 80 % of all profits, but only served 20 % of the market’s fund demand. Ma claimed that the financial industry should not be a “self-entertained” circle; instead, it needs to well serve the “outsiders” of the financial industry, allow the entry of external “intruders”, and take steps toward financial reform and innovation.1 As can be expected, Jack Ma’s comments triggered enormous debate in the media, both inside and outside financial industries, on the whole basket of related financial issues. The most salient question was as to who comprised this lucky 20 % and who were the 80 % who were “leftovers?” Why could these “20 %” easily obtain the abundant funding they demand, and sometimes even beyond what they need, from large banks, but such funding barely covered the remaining 80 % who could not even secure much smaller amounts of money that they badly need? What can the Chinese financial industry do to address these issues, and will the long-waited financial reform take a real step forward
Data Loading...
