The financing of small and medium-sized enterprises and financial innovation are important problems of real and virtual economy.Supply chain finance has become an effective way to deal with the problems and an area of financial innovation.Based on the connotation and development path of supply chain finance from different perspectives,the article revealed the gap of dominant body and risk management ability of supply chain finance between China and foreign countries.It explored the gap between China and foreign countries in five modes and services of supply chain finance such as Account Receivable Financing,Factoring Financing,Inventory Financing,Prepaid Financing and Letter of Credit Financing,analyzed factors of development and innovation of supply chain finance,drew some conclusions and put forward some suggestions.