The paper made an analysis,20 large enterprises and 20 SME of the listed companies are selected, the financial statement data was from 2003 to 2012 ,and the interest rate liberalization index and GDp data were compared on panel Data way. panel Data analysis is divided into two different groups:large enterprises date and SME date. The result shows that:interest rate liberalization can promote the enterprise financing,and its promoting effect to SME is larger;due to the own poor conditions of SME and the restrictions of the banking system,the promo-tion of interest rate liberalization for SME financing is not fully embodies;there are risks in the interest rate liberal-ization itself. So,the bank service should be more diverse and simplify the process,the banks and institutions should strengthen supervision and risk control. Markets also should improve the interest rate transmission mechanism. Thus, we can steady economic,at the same time,make the financing of SME convenient and efficient,and then promote the economic development of our country.%文章从上市企业中选取大型企业和中小企业各20家，采用2003年至2012年财务报表数据，与利率市场化指数和GDp数据进行面板数据分析。面板数据分为大型企业数据和中小企业数据两组进行分析。结果表明：利率市场化能促进企业融资，对中小企业的促进作用大于大型企业；由于中小企业自身条件差以及银行的制度限制，利率市场化对于中小企业融资的促进作用并不完全能体现；利率市场化本身也存在风险。所以，银行的服务应该更加多元和简化流程，银行以及机构要加强监管和风控。市场方面也要完善利率传递机制。这样才能在经济平稳的同时，方便中小企业高效融资，促进我国经济发展。
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