本文選題：合資鐵路 + 授信風險��； 參考：《西南財經大學》2013年碩士論文

【摘要】：鐵路行業(yè)憑借其運輸能力大、安全性能高、低耗環(huán)保、全天候運輸等優(yōu)勢,對世界各國的經濟發(fā)展和社會進步發(fā)揮著重要作用。近年來,隨著我國經濟社會的快速發(fā)展,全社會對鐵路運輸需求的不斷增長,使得國家加快了鐵路建設步伐。“十一五”期間,我國對鐵路的投資高達1.56萬億元,據國家鐵路發(fā)展規(guī)劃,“十二五”期間將建設新線3萬公里,預計總資金需求2.8萬億元,主要用于建設高速鐵路客運專線、發(fā)展城際客運軌道交通的既有線提速改造等。 當前合資建設鐵路已成為政府發(fā)展鐵路的依賴途徑,可以說合資鐵路已成為鐵路發(fā)展的載體。合資鐵路的興起,突破了舊的鐵路投資體制束縛,改變了長期以來鐵路投資主體單一、資金來源以來國家的狀況,拓寬了籌資渠道,初步形成了鐵路建設投資主體多元化的格局。 但當前值得注意的是,諸多新建和在建合資鐵路項目對資金的需求動輒以千億計,大規(guī)模鐵路建設迫切需要海量巨額資金支持,對于如此龐大的鐵路投資資金,其融資來源絕大部分依賴商業(yè)銀行,鐵道部和地方政府。合資鐵路項目的借款比例和總量不斷被推高,為支持國家基礎設施重大項目建設,銀行授信條件也不斷放寬,全信用、20年以上期限、利率下浮10%已成為常態(tài)。如果鐵道部未來的融資依靠有息債務融資,預計每年的有息負債將凈增5000億元以上,到2015年末總負債規(guī)模可能達到4.68萬億元及資產負債率達72.2%。鐵道部債務融資規(guī)模和風險已經達到極致,根據發(fā)改委關于鐵路項目的最低資本金比例為25%規(guī)定,鐵道部繼續(xù)增加債務融資的比例將沒有空間。在看似“繁華”的鐵路建設和地方政府債務不斷高企的情勢下,合資鐵路的銀行授信風險不得不引起重視。 本文通過對近年來兩條具有代表性的合資鐵路項目的盈利指標進行測算,揭示影響銀行貸款本息償債覆蓋率的主要因素,并就影響因素進行深入探究。通過分析合資鐵路授信存在的風險,提出相應的風險防范與應對措施,并就下一步銀行對合資鐵路建設提供融資支持提出對策建議。 本文主要以通過數據分析得出盈利能力大小是決定銀行授信風險的必要因素為線索,進一步導出風險點。并通過分析合資鐵路項目銀行授信風險,結合工作實際提出融資融智建議。 本文的創(chuàng)新點在于：一是創(chuàng)新運用指標測算法對我國合資鐵路盈利指標進行分析,從而得出影響銀行授信風險的因素；二是運用風險分類分析法,提出合資鐵路授信風險防范措施。
[Abstract]:The railway industry plays an important role in the economic development and social progress of the world by virtue of its advantages of large transportation capacity, high safety performance, low consumption and environmental protection, all-weather transportation and so on. In recent years, with the rapid development of our country's economy and society, the whole society's increasing demand for railway transportation makes the country quicken the pace of railway construction. During the 11th Five-Year Plan period, China's investment in railways reached 1.56 trillion yuan. According to the National Railway Development Plan, 30,000 km of new lines will be built during the 12th Five-Year Plan period. The total capital requirement is estimated to be 2.8 trillion yuan, mainly for the construction of high-speed passenger dedicated railway lines. Development of intercity passenger rail transit existing lines speed-up transformation and so on. At present, the joint-venture railway has become the dependent way for the government to develop the railway, and it can be said that the joint-venture railway has become the carrier of the railway development. The rise of the joint-venture railway has broken through the shackles of the old railway investment system, changed the state of the country since the long time when the main body of railway investment was single and the source of funds, and widened the channels for raising funds. Initially formed the railway construction investment main body diversification pattern. However, what is worth noting at present is that the demand for funds for many new and ongoing joint-venture railway projects is often in the hundreds of billions. Large scale railway construction urgently needs massive and huge financial support. For such a huge railway investment fund, Most of its sources of financing rely on commercial banks, the Ministry of Railways and local governments. The loan ratio and total amount of the joint-venture railway projects have been pushed up continuously. In order to support the construction of major national infrastructure projects, the bank credit conditions have been continuously relaxed, full credit has been extended, and the interest rate has dropped by 10 percent over 20 years' maturity. If the ministry relies on interest-bearing debt to finance its future financing, it expects its interest-bearing liabilities to rise by more than 500 billion yuan a year, with total liabilities likely to reach 4.68 trillion yuan by the end of 2015 and a debt ratio of 72.2 yuan. The Ministry of Railways has reached an extreme level of debt financing and there will be no room for it to continue to increase debt financing under the NDRC's 25 percent minimum capital ratio for rail projects. With the seemingly "prosperous" railway construction and the rising local government debt, the credit risk of the joint-venture railway banks has to be taken seriously. Through the calculation of the profit index of two representative joint-venture railway projects in recent years, this paper reveals the main factors that affect the coverage rate of principal and interest repayment of bank loans, and probes into the influencing factors. Based on the analysis of the risks existing in the credit granting of the joint-venture railway, this paper puts forward the corresponding risk prevention and countermeasures, and puts forward the countermeasures and suggestions on the next step for the banks to provide financing support for the construction of the joint-venture railway. Based on the data analysis, this paper draws the conclusion that the profitability is the necessary factor to determine the credit risk of the bank, and further deduces the risk point. Through analyzing the credit risk of the joint venture railway project bank, the paper puts forward the suggestion of financing and financing. The innovation of this paper lies in the following aspects: first, the author analyzes the profit index of the joint-venture railway in China by using the index calculation method, and obtains the factors that affect the credit risk of the bank; secondly, it uses the risk classification analysis method. The risk prevention measures of joint venture railway credit award are put forward.
【學位授予單位】：西南財經大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F832.4;F532

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本文編號：2091698