This paper researches on financing restriction of middle and small-sized enterprises from microcosmic aspects. This research uses two groups of microcosmic enterprises data and use different kinds of index to value financing restriction and analyzes the relationship between investment- money flow sensibility

money- money flow sensibility and financing restriction of middle and small-sized enterprises. The research reflects that two groups of target enterprises both shows such characteristics: investment has positive sensibility to inner financing flow; money asset has positive sensibility to money flow. These both shows that there is financing restriction in middle and small-sized enterprises in our country. Compared with science and technology middle and small-sized enterprises

financing restriction has less influence on National Equities Exchange and Quotations middle and small-sized enterprises. This reflects that the development of finance market in our country has the function to financing restriction relief.