金融危机以来,中小企业直接上市融资和发债筹资门槛提高,金融机构信贷审核更加严厉,特别是去年以来央行连续加息和存款准备金率不断上调,市场流动性进一步收紧,急需资金的中小企业纷纷转向融资成本更高的民间资本。 Since the financial crisis, the threshold for directly listing and financing SMEs and debt issuance has been raised, and credit auditing by financial institutions has been stricter. Since the central bank raised interest rates and the deposit reserve ratio continuously since last year, the liquidity of the market has been tightened further and the capital in urgent need of financing Enterprises have turned to higher financing costs of private capital.