The Research on Shadow Banking System in China and Its Impact on Small and Medium Enterprises (SMEs) Financing --- Taking Wealth Management Products as an Example

The project aims to explore the shadow banking system in China and its impact on small and Medium Enterprisess (SMEs) Financing. It mainly studies the development of shadow banking in the last ten years, the effects of regulation in the financial industry, and its shape process of the financial injection into small and Medium Enterprisess, the source of funds, and the balance of the shadow banking system in four main channels, and the structure of wealth management products. This paper concluded that the development of the shadow banking system, especially the industry of wealth management products, has encouraged the SMEs financial to some extent. However, more regulation policies focused on the hidden risks are still needed to develop.