The experience of many countries in the world shows that the financial support for small and medium-sized high-tech business growth is important. According to the case from Shandong Province，We found that SMEs in particular SMEs in high-tech field are playing more important role with industrial structure adjustment in China. Since institutional change combined by compulsory and induced-innovation，the financial support system has formed the pattern that mainly depending on bank credit，and at same time the capital market support developing rapidly. However，SMEs in high-tech field still face enormous Macmillan Gap，because of “market disintermediation” due to the shortage of capital market support system and “banking disintermediation” caused by information asymmetries and unsound credit guarantee system. In order to develop SMEs in high-tech field，multi-channel and multi-level financial support system should be constructed by means of incremental introduction and stock reform.