Introduction Small and micro enterprises are playing an increasingly important role in the economic development of China. According to statistics, at present, the number of small and micro enterprises in China has accounted for more than 99% of the total number of enterprises in the country, covering all industries of the national economy. Their contribution rate to GDP exceeds 60%, tax revenue exceeds 50%, and they provide 80% urban jobs, which has become the top priority of the national economy. However, the shortage of funds and financing difficulties have always restricted the development and growth of small and micro enterprises. On the one hand, small and micro enterprises are troubled by their small scale, few fixed assets and imperfect accounting system, and cannot provide enough collateral and relevant materials needed by banks; On the other hand, irregular management, imperfect system, opaque information and insufficient credit are also the biggest obstacles that restrict small and micro enterprises from obtaining loans from banks. In this context, the author tries to sum up the views and suggestions of the main contributors in this field, sort out their theoretical logic, so as to understand small and micro enterprises and then put forward some suggestions on credit. Specifically, from the whole process of the emergence, development and change of small and micro enterprises, what is its particularity? How can we guide it to the ideal future state? What do you usually start with? What are the specific countermeasures and suggestions? This paper hopes to provide some useful perspectives for people to further seek the answers to the above questions. In this paper, literature review basically changes the arrangement process according to the order of discussion objects. This paper discusses the present situation and difficulties faced by small and micro enterprises around enterprises, banks and governments, and has a three-dimensional understanding of the overall situation and trends and puts forward some suggestions. Although the literature has different perspectives, they are all based on the original intention of improving the difficulties faced by small and micro enterprises in China and consolidating the development foundation.

Second, the credit difficulties faced by small and micro enterprises and the reasons are narrow financing channels and financing difficulties. Because small and micro enterprises are in a weak position in terms of investment scale, technical content and competitive strength, the channels for obtaining and using policy information are blocked and their ability is not strong, so it is difficult for them to enjoy the same treatment as large and medium-sized enterprises in financing [1]. At present, there are four financing channels for small and micro enterprises: banks, small loan companies, guarantee companies and private lending. Even though the state has issued relevant preferential policies to support the financing of small and micro enterprises, due to the consideration of financing cost and approval process, small and micro enterprises may be more inclined to borrow money from relatives and friends to solve their financing needs. But the scale of funds is quite limited. According to Tian Yun's article published in the Guide to Economic Research, the operating conditions of 38,000 small and micro industrial enterprises sampled by the National Bureau of Statistics show that only 15.5% of small and micro enterprises can obtain bank loans, with an annual funding gap of nearly 30 billion, and nearly 80% of small and micro enterprises are facing financial constraints [2]. Although the financing of micro-enterprises shows the trend of "diversification of channels, socialization of sources and marketization of behaviors", the overall scale is small, funds are tight and conditions are harsh. In order to avoid the break of capital chain, small and micro enterprises have to turn to private lending. Although there are many forms of private lending, the loan interest is high and the conditions are harsh. Small and micro enterprises are struggling because of lack of funds. Many of them are in a state of bankruptcy, suspension of production and semi-suspension of production. Bosses frequently "run away" and people are impetuous.

3. As an effective accounting solution and a new social accounting service project, the risk management of accounting agency in small and micro enterprises is favored by more and more small and micro enterprises. However, according to Chen Jun, in the process of accounting agency, all relevant subjects want to maximize their own interests, so there is a game relationship between them [3]; At the same time, the accounting agency system is imperfect, the information between the client and the accounting agency is asymmetric, the entry threshold of the accounting agency is low, and the professional level of the employees is not high, which makes the accounting agency bring many risks to the relevant subjects: financial management risks and management risks to small and micro enterprises, reputation risks to accounting agencies, economic interests risks to related customers and tax collection risks to the country. So how to strengthen the risk management of accounting agency in small and micro enterprises,

4. Small and micro enterprise loans From the perspective of banks, the development of small and micro enterprise loans in China is not ideal at present. Except for a few banks, which have successfully embarked on the road of economies of scale because of the right time and the right place, most banks are in a dilemma. There are not many financial institutions in China that really make profits by lending to small and micro enterprises, and there are even fewer financial institutions with microfinance as their core business. So how can small and micro enterprises really obtain capital from credit institutions such as banks and create profits? At present, the "supply chain finance" model developed by making full use of the characteristics of supply chain and small and micro enterprises has become a win-win choice for commercial banks to solve the financing difficulties of small and micro enterprises and increase new profit channels. Yang Haiping, Feng Min and others believe that in the supply chain finance business, how to carry out risk management, so as to effectively control and prevent risks, is the key to success [5]. In the risk management of supply chain finance, credit risk is the most important issue. With the expansion of credit transaction scale, credit risk is also increasing. At present, the development of supply chain finance business is not long. According to the research of Peng Kai and Xiang Yu, it can be concluded that commercial banks have not yet formed a set of effective methods for credit risk management and control of such businesses, and there is no perfect credit risk assessment system for small and micro enterprises specially suitable for supply chain financial products [6]. Therefore, it is an urgent problem to establish a set of credit risk evaluation index system for small and micro enterprises based on supply chain finance. The credit risk assessment of small and micro enterprises based on supply chain finance is that commercial banks analyze the credit risk of small and micro enterprises as a whole, including not only their past credit and financial status, but also their future cash flow and financial status, as well as the influence of stakeholders in the supply chain system environment where small and micro enterprises are located, so as to grasp more information, make a more reasonable and fair evaluation of the credit risk of small and micro enterprises and ensure the security of bank credit. Effectively control the risks in the credit process of small and micro enterprises in a targeted manner [establishing a credit risk evaluation system suitable for small and micro enterprises under supply chain finance is conducive to the reasonable analysis and evaluation of their comprehensive strength, improving their credit rating through continuous management improvement, and facilitating financial institutions such as commercial banks to provide financial support according to their own management level and credit status; For banking institutions, it can provide an important basis for commercial banks to determine the degree of loan risk and credit asset risk management, increase the default cost of small and micro enterprises, and thus reduce credit risk [8]; At the same time, it provides reference for the supervision of the regulatory authorities. The author believes that banks and other credit institutions should standardize, institutionalize and standardize some links as much as possible on the basis of the people-oriented business development concept, especially some large banks can try to establish and improve their own credit scoring models and data information bases by virtue of their own technological advantages, and issue loans to small and micro enterprises, which is also the future trend. V. The role of the government in solving the credit problem of small and micro enterprises. Small and micro enterprises play an important role in developing the national economy, solving the employment problem, promoting urbanization and narrowing the regional gap, but they are faced with financing difficulties and high financing costs. Recently, especially in some developed areas of private economy in China, the soaring interest rate of private lending, the increase of private lending disputes and the increasing financing difficulties of small and micro enterprises have attracted the attention of all parties. What role should the government play in it? This is an urgent problem. Judging from the practice of credit for small and micro enterprises around the world, a large number of government interventions have not achieved obvious results, and even the result of "doing bad things with good intentions" has appeared. Therefore, how the government should intervene and how to spend subsidies is the key.

Now the author summarizes the following suggestions:

(a) Improving the credit infrastructure

1. Improvement of information environment. On the one hand, for relational lending, the successful credit of small and micro enterprises mainly depends on social capital. The formation of social capital and its remarkable increasing returns to scale in soft information production mean the necessity of government intervention. On the other hand, the lack of real financial statements is the main manifestation of information opacity of small and micro enterprises [9].

Departments such as taxation and auditing can consider designing accounting standards for small and micro enterprises according to the characteristics of different industries, and setting simplified and standardized accounting subjects and processes [10].

2. Improve the legal environment. China's legislation on private lending is almost blank. First of all, we should legally define legal and illegal private lending, especially redefine the boundaries of concepts such as illegally absorbing public deposits, illegally raising funds and normal private financing, so as to provide a legalized platform for private lending and promote the sunshine of private lending. Secondly, through legal means, the definition of main legal private lending, the rights and obligations of both borrowers and lenders, the form of contract terms, transaction methods, etc. are clarified. Third, standardize all kinds of legal private lending intermediaries as soon as possible from the aspects of market access (including registered capital and qualification certification), property right structure, business type, scale and regional scope, supervision and withdrawal.

(b) Industrial organization policy

The government's industrial organization policy for the financial industry will profoundly affect the choice of bank credit technology and the arrangement of incentive mechanism, thus affecting the credit availability of small and micro enterprises. First of all, in terms of scale, we should pay attention to the development of local small banks, because these banks are more likely to form credit technology innovation and internal organizational structure that adapt to the characteristics of credit demand of small and micro enterprises [1 1], and they have comparative advantages over traditional large banks in this respect, so their market positioning is also different from traditional large banks. Therefore, the concept of "big banks serve big enterprises and small banks serve small enterprises" has basically formed a * * * understanding, and the concept of meeting the financing needs of enterprises of different sizes through multi-level financial scale structure is deeply rooted in the hearts of the people. However, at the policy level, this concept is not smooth in the process of realization. This is related to the property right structure to some extent. Wang Xinglong also refuted the view that "large and medium-sized commercial banks are naturally not suitable for providing financial services for small and micro enterprises" and made a detailed discussion [12].

Therefore, the author believes that some outstanding community banks with outstanding operating ability in small and micro enterprise credit should be encouraged to realize cross-regional operation in the mode of banking group companies, promote the successful credit management concept, technology and organizational structure of small and micro enterprises, and better serve small and micro enterprise credit in a larger scope. Secondly, in the organizational policy of promoting credit for small and micro enterprises, the core is to promote competition. It is the key of industrial organization policy to relax the market access threshold of small and micro financial institutions, set up enough small and micro financial institutions and promote the competition in the credit market of small and micro enterprises. The policy of forcing banks to lend to small and micro enterprises by artificially restraining scale expansion and geographical expansion may not be effective. Only by promoting full competition can we truly solve the credit problem of small and micro enterprises.

(3) Relax the supervision of small and micro financial institutions.

1. The access conditions for small and micro financial institutions should be relaxed [13]. Developing a large number of local small and micro financial institutions is the premise of forming a fully competitive local small and micro enterprise credit market, the main way to regulate private lending, and the key measure to solve the credit difficulties of small and micro enterprises.

2. Relax the supervision of small and micro financial institutions. We can appropriately relax the supervision standards of "only lending but not saving" financial institutions in terms of information disclosure, accounting standards, risk control and even capital adequacy ratio, so as to reduce the financial service costs of small and micro enterprises.

3. In tightening macro-control, we should avoid accidental injury to small and micro financial institutions and small and micro enterprises, and relax credit to small and micro enterprises through structural policies.

4. Interest rate control should be relaxed [14]. The credit unit cost and risk of small and micro enterprises are high, and the profits are artificially depressed.

Loan income can't make up for its cost, which directly restricts the credit supply to micro-enterprises. In view of the high return on capital of micro-enterprises, a market-oriented interest rate setting mechanism covering costs and risks is the prerequisite for the commercialization of credit for micro-enterprises. At the same time, it is necessary to introduce flexible interest rate system arrangements, and the interest rate will be adjusted with the risks and times of borrowers, which will help reduce the operational risks of banks and form dynamic incentives for small and micro enterprises. Summary of intransitive verbs Under the complicated economic situation at home and abroad, most small and micro enterprises in China are in poor operating conditions, with meager income and many difficulties. Small and micro enterprises are related to the national economy and people's livelihood and the healthy development of the real economy. Based on the literature, this paper analyzes the problems and reasons existing in the credit development of small and micro enterprises in China at present, and puts forward some suggestions, hoping that they can improve their credit rating through continuous improvement of management, so as to facilitate commercial banks and other financial institutions to give financial support according to the management level and credit status of enterprises; For banking institutions, it can provide an important basis for commercial banks to determine the degree of loan risk and credit asset risk management, increase the default cost of small and micro enterprises, and thus reduce credit risk; At the same time, it provides reference for the supervision of the regulatory authorities. Supporting the healthy development of small and micro enterprises is of great strategic significance for China's economy to overcome the impact of the international financial crisis and maintain steady and rapid development.

English:

Literature Review on Credit Development of Small and Micro Enterprises in China

I. Introduction Small and micro enterprises are playing an increasingly important role in the economic development of China. According to statistics, at present, the number of small and micro enterprises in China has accounted for more than 99% of the total number of enterprises, covering all industries of the national economy. Their contribution rate to GDP exceeds 60%, their contribution rate to tax revenue exceeds 50%, and they provide 80% of urban jobs, which has become one of the key economies that the country gives priority to. However, the shortage of funds and financing difficulties have restricted the development of small and micro enterprises. On the one hand, small and micro enterprises cannot provide relevant materials to banks because of their small scale, few fixed assets and imperfect accounting system, and need sufficient collateral and bank certificates; On the other hand, irregular management, imperfect system, opaque information and insufficient credit are also the biggest obstacles for small and micro enterprises to obtain loans from banks. Based on this background, the author tries to summarize the opinions and suggestions of the main contributors in this field, and analyzes its theoretical logic, in order to understand small and micro enterprises and then put forward credit suggestions. Especially from the whole process of micro-enterprise development and evolution, what is its particularity? How can we be guided to an ideal future state? What aspects should we start with? What are the specific countermeasures and suggestions? I hope this article can further provide some useful perspectives for people seeking answers to the above questions. This paper reviews the process of arranging documents in the order of basic changes of objects. This paper discusses the present situation and difficulties of small and micro enterprises around enterprises, banks and the government, and has a solid understanding of the overall situation and trend, and puts forward some suggestions. Although the literature has different perspectives, they are all based on the original intention of improving the difficulties faced by small and micro enterprises in China and consolidating the development foundation.

Two. Small and micro enterprises are facing credit difficulties, which leads to narrow financing channels and difficulties in financing. Small and micro enterprises are in a weak position in terms of investment scale, technology, competition, etc., and have poor access to and utilization of policy information, weak ability and financing difficulties, so it is difficult for them to enjoy the same treatment as [1] large and medium-sized enterprises. At present, there are four financing channels for small and micro enterprises: banks, small loan companies, guarantee companies and private lending. Even though the state has issued relevant preferential policies to support the financing of small and micro enterprises, due to the consideration of financing cost and approval process, small and micro enterprises prefer to borrow from relatives and friends to solve their financing needs, but the scale of funds is very limited. According to an article published by Tian Yun in the Economic Research Herald, the National Bureau of Statistics surveyed the operating conditions of 38 million small and micro enterprises, and only 15.5% of small and micro enterprises were able to obtain bank loans, with an annual financing gap of nearly 3 billion, and nearly 80% of small and micro enterprises were facing financial constraints [2]. Although the financing of small enterprises presents the trend of "diversification of channels, socialization of source behavior and marketization", the overall scale is small, the funds are tight and the conditions are harsh. In order to avoid the break of capital chain, small and micro enterprises have to turn to private lending. Although there are many forms of private loans, the loan interest is high and the conditions are harsh. Small and micro enterprises are facing difficulties due to lack of funds. Many enterprises are in a state of bankruptcy, suspension of production and semi-suspension, and bosses frequently "run away" and are impetuous.

Three. As an effective accounting solution and a new social accounting service, the risk management of accounting agency in small and micro enterprises is favored by more and more small and micro enterprises. However, according to Chen Jun, in the accounting process, the relevant subjects want to maximize their own interests, so the interests of the subjects compete with each other [3]; At the same time, due to the imperfect accounting agency system, asymmetric information between clients and accounting agencies, low entry threshold for accounting agencies, and low service level of employees, accounting agencies have risks in many aspects: bringing financial management risks and operational risks to small and medium-sized enterprises, credit risks to accounting agencies, economic benefits risks to customers, and tax collection risks to the country. So how to strengthen the risk management of accounting agency in small and micro enterprises,

Four. Based on the current development of small and micro enterprise loans in China, except for a few banks, bank loans for small and micro enterprises are not ideal.