Growth stages and financing needs of private SMEs. CG challenges and basic responses at each stage. A brief summary of the challenges: what is the nature of the problem?

• 民营中小企业的成长阶段及各阶段的融资需要。民营企业成长不同阶段的公司治理挑战和应对挑战的基本措施。简要总结:在成长中加强公司治理,挑战的实质何在?