我国小额贷款公司发展的现实困境及其出路
Realistic Dilemma and Solutions of Microfinance Corporations Development in China

借着新一轮增量式农村金融改革的政策春风，小额贷款公司获得了飞速发展。由于制度设计的缺陷，小额贷款公司出现使命偏移问题。从交易成本视角分析后，认为小额贷款公司面临政策管制导致融资成本偏高，信息不对称造成交易运营成本偏高，税负较重拉升机构经营成本等现实困境。因此，建议政府从创新融资渠道、落实财税优惠政策、放宽利率管制、完善基础设施建设和基本公共服务，小额贷款公司建立信用评价体系、引进信贷专业人才、强化内控机制建设等方面设计交易成本控制框架，以实现可持续发展。
Along with a new round of incremental rural financial reform, the microfinance corporations obtained rapid development. However, due to the defect of its system design, mission migration problems appear in them. The paper analyzes from the perspective of transaction cost, considering that they are facing realistic dilemma, which includes the policy regulation leading to high financing costs, the information asymmetry causing high trade operating costs and heavy tax burden pulling up the organization management cost. Therefore, it suggests that the government, from the innovative financing channels, should implement preferential fiscal and taxation policy, relax controls on interest rates, and perfect the construction of infrastructure and basic public services, while the corporations should set up a credit evaluation system, introduce professional credit talents, strengthen internal control mechanism construction to reduce transaction cost, so as to realize their sustainable development.