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Juan Wu, Yaokuang Li and Shakeel Muhammad

Using direct information from a national large-scale survey on Chinese private enterprises, this chapter presents an empirical study to examine how women’s awareness of a financial policy affects their debt financing activities. More specifically, the authors choose a significant financial policy that was implemented in June 2010 to reduce the financial barriers of small and medium enterprises (SMEs) and investigate the impacts of women’s policy awareness on their debt usage and debt ratios in 2011. Using both Logit analysis and Tobit analysis, the findings show significant positive impacts of women’s policy awareness on the utilization of debt financing and the debt ratios in their firms’ expanded production. These findings empirically confirm that women’s enhanced policy awareness will be beneficial to their access to finance, which will reduce their financing constraints to some extent. Particular implications for women, the government and scholars are discussed at the end of the chapter.