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As China's traditional financial system differential treatment , SMEs generally rely on self-financing , financing channels for a single , and was followed by poor credit status , credit rating is low. In the absence of bad debt reserves and loan guarantees , banks lending to SMEs will make the bank's bad debt been increasing accountability , will increase outside of banks to SMEs bribes suspicion. In contrast , bank lending to the government and state-owned enterprises once produced bad debts, the bank will not be held responsible almost , so as to avoid the risk of financial institutions and a large amount of loan to the government and state-owned enterprises.

当中国由市场经济进人到资本经济时期以后，企业的融资手段将更多地取决于在资本市场上的直接融资。但是，由于目前我国“千军万马过独木桥”的资本市场格局，加上国内股市由于种种原因而导致的低迷状况，使得企业(特别是中小民企)在境内通过上市来进行融资变得非常困难.

When the Chinese economy into the market economy to the capital after the period , the company's financing instruments will depend more directly in the capital markets financing . However, due to the current China's " mighty force in single ," the capital market structure , coupled with the domestic stock market due to various reasons which led to the downturn , making enterprises ( especially small and medium private enterprises ) in the territory through the listing and financing becomes very difficult to : the overseas market is relatively mature , because of the rapid development of national economy is not listed resources are relatively scarce, and therefore , from the booming economy of China 's emerging market private companies are successfully listed in the overseas market . These enterprises not only raised the development of gold, more importantly, the entire corporate governance structure and operational levels because markets outside the strict supervision of listed companies which have made great progress . But this does not mean that all are suitable to private enterprises listed overseas . Which also contains a great risk , the risk can be summarized in this series of aspects.

民营企业在境外上市过程中需要承担较高的上市费用和高额的维持成本，如, 在纳斯达克融资成本一般约占融资额的10％以上。在香港更是高达20％以上，即使在香港创业板的费用一般也要达到10％一15％．

Private enterprises listed overseas process needs to assume a higher listing fees and high maintenance costs, such as financing costs on Nasdaq generally about 10% of the amount of financing . In Hong Kong is as high as 20% or more , even in the GEM costs generally have a 15% to 10% . Singapore listing fees lower, approximately 8% - 10%, while in the domestic main board listed , generally accounting for about 5% of the amount of financing , even if the market failure will produce about 300 million fee. SMEs in the overseas market, in addition to considering facing costly benefits and pay disproportionately huge market pressures difficult situation , we should also consider the future growth of enterprises , because of geographical and regulatory and other factors, listing the cost of maintaining the status of listed companies higher .

Chinese enterprises followed the domestic capital market, " misappropriating" logical thinking , often from overseas listed momentary finance motive , the lack of long-term capital market development strategy. Overseas listed companies annually to employ international accounting matters, a