Through the analysis of the problems existing in the OTC market financing of SMEs in China，as well as the direct financing of SMEs in Anhui Province，Jiangsu Province，Zhejiang Province and Shanghai in the OTC market。This paper finds that SMEs in the Yangtze River Delta have problems such as blocked channels，insufficient liquidity in the OTC market，and uneven regional development through direct financing through the OTC market. Finally，it proposes to increase equity financing，unblock the transfer mechanism，and improve the uneven regional development.