Notice of RetractionStudy on widening financial channel of small-medium enterprises in Heilongjiang Province

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

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Nowadays, SMEs of our country has become the main force of economic development. To the current situation, the quantity of SMEs accounts for over 99% of the total number of enterprises, which accounts for the value creation about 60% of GDP, providing new jobs that accounts for 75% of enterprises, import and export volume accounts for 60% of the country. In the meanwhile, SMEs of Heilongjiang Province, the role in economic development have been becoming increasingly significant In Heilongjiang Province, the quantity of SMEs accounts for more than 90% in province. January-February 2009, only the value of private foreign trade import and export of small and medium enterprises achieved 2.35 billion, accounting for 75.8% of the province´s imports and exports, state-owned enterprises, foreign imports and exports $ 580, 000, 000 and $ 160, 000, 000. The data shows that SMEs have become a driving force in Heilongjiang Province which promote the province´s rapid economic growth. However SMEs financing channel is narrow, it brought huge pressure to SMEs. This situation hindered its healthy development and economic growth. The thesis starts with the current situations of SEMs financing channels, probes and analysis the existing problems of the channels in Heilongjiang province, proposes the strategy and suggestion to widen SEMs financing channel to promote the rapid economic development in Heilongjiang province.