Abstract: To strengthen the real economy need not only stronger large and medium-sized enterprises, but also overwhelming small and micro enterprises. The development of small and micro enterprises concerns the vigor and staying power of national economic growth. Currently, the real economy, especially small and micro enterprises, is facing unprecedented financing difficulties,“expensive financing”and“difficult financing”have become an outstanding issue restraining the health and sustainable development of China’s economy. To alleviate the financing plight faced by the real economy and the small and micro enterprises, a combination of measures should be taken to resolve the current problems and eliminate the root causes. Starting from the supply side, we should construct the multi-level financial system, the diversified organization system and the three-dimensional service system to match the real economy, integrate effectively a variety of financial resources to serve small and micro enterprises, and support the development of small and micro enterprise of entity type, so as to consolidate the solid foundation for the real economy.

Key words: small and micro enterprises; financing difficulties; private capital; multi-level financial system