【摘要】：進(jìn)入二十一世紀(jì)以來,我國融入世界,走出去的步伐進(jìn)一步加快。當(dāng)前的走出去已經(jīng)不僅僅表現(xiàn)在貿(mào)易的出口,更重要的是中國企業(yè)走出去,積極參與國際市場(chǎng)競(jìng)爭(zhēng)。通過跨國模式整合,進(jìn)而開拓市場(chǎng)空間,優(yōu)化產(chǎn)業(yè)結(jié)構(gòu),尤其是為國內(nèi)經(jīng)濟(jì)的飛速發(fā)展獲取足夠的原材料。積極對(duì)外投資是主動(dòng)參與國際分工,有效利用國際國內(nèi)兩個(gè)市場(chǎng)的重要舉措。過去十年我國對(duì)外直接投資迅速發(fā)展,現(xiàn)在位居全球第五。在我國企業(yè)走出去的過程中,金融機(jī)構(gòu)在資金支持方面扮演了重要角色。金融作為產(chǎn)業(yè)的推動(dòng)力,承擔(dān)著為我國企業(yè)走出去提供各種融資、咨詢等服務(wù)的重任。因此,研究我國企業(yè)對(duì)外投資融資方案對(duì)積極推進(jìn)企業(yè)“走出去”具有重要意義。鑒于我國境外投資的融資渠道集中在境外投資貸款,本文以X公司印尼海砂礦項(xiàng)目境外投資貸款項(xiàng)目為例,分析其貸款項(xiàng)目可行性,試圖為我國金融機(jī)構(gòu)境外投資貸款提供有益借鑒。 本文考察借款人主要以信用6C為標(biāo)準(zhǔn),對(duì)借款人的品德、能力、資本、抵押品、經(jīng)營環(huán)境和事業(yè)的連續(xù)性均進(jìn)行分析。邏輯框架按照金融分析從宏觀到微觀的線路。宏觀分析側(cè)重于中印兩國的經(jīng)貿(mào)關(guān)系和印尼的國別風(fēng)險(xiǎn),中觀產(chǎn)業(yè)分析通過相關(guān)產(chǎn)業(yè)政策以及釩鈦磁鐵礦石的供需狀況,重點(diǎn)分析釩鈦磁鐵礦的價(jià)格趨勢(shì)。宏觀和行業(yè)分析均為企業(yè)的外部環(huán)境分析。微觀個(gè)體分析主要研究借款人及擔(dān)保人。借款人的經(jīng)營狀況,管理層狀況來衡量經(jīng)營的連續(xù)性和品德。財(cái)務(wù)分析注重于借款人本身的償債及發(fā)展能力。對(duì)項(xiàng)目的研究在于評(píng)估項(xiàng)目現(xiàn)金流回收是否可行,確保項(xiàng)目第一還款來源的可靠性。擔(dān)保人及抵押擔(dān)保品作為還款的第二來源,也是衡量借款人資質(zhì)狀況的重要因素。 通過全面的分析,在借款人母公司無法為其提供的擔(dān)保的情況下,創(chuàng)造性的運(yùn)用供應(yīng)鏈金融的思想,通過項(xiàng)目進(jìn)口原材料的需求方,及下游核心企業(yè)提供全額連帶責(zé)任擔(dān)保,設(shè)計(jì)擔(dān)保方案,為授信工作開展奠定基礎(chǔ)。同時(shí)完成相關(guān)授信及擔(dān)保方案的設(shè)計(jì)。
[Abstract]:Since entering 21 century, our country melts into the world, the step that goes out accelerates further. The current going out is not only manifested in the export of trade, but also the Chinese enterprises go out and actively participate in the international market competition. Through the integration of transnational models, we can open up the market space, optimize the industrial structure, especially to obtain enough raw materials for the rapid development of domestic economy. Active foreign investment is an important measure to actively participate in the international division of labor and make effective use of both international and domestic markets. China's foreign direct investment (OFDI) has developed rapidly in the past decade and is now the fifth largest in the world. In the process of Chinese enterprises going out, financial institutions play an important role in capital support. As the driving force of industry, finance undertakes the important task of providing various financing, consulting and other services for Chinese enterprises. Therefore, it is of great significance to study the financing scheme of Chinese enterprises' outward investment to actively promote enterprises'"going out". In view of the fact that the financing channel of our country's overseas investment is concentrated on the overseas investment loan, this paper analyzes the feasibility of the loan project by taking the overseas investment loan project of the Indonesia Sea placer Project of X Company as an example. This paper attempts to provide useful reference for overseas investment loans of Chinese financial institutions. This paper analyzes the borrower's moral character, ability, capital, collateral, business environment and business continuity according to the credit 6C standard. The logical framework follows the lines of financial analysis from macro to micro. The macro analysis focuses on the economic and trade relations between China and India and the country risk of Indonesia. Through the relevant industrial policies and the supply and demand situation of vanadium titanomagnetite, the price trend of vanadium titanomagnetite is analyzed emphatically. Both macro and industry analysis are external environment analysis of enterprises. Micro-individual analysis mainly studies borrowers and guarantors. The state of the borrower's business and management to measure the continuity and character of the business. Financial analysis focuses on the borrower's own debt service and development capacity. The research of the project is to evaluate whether the cash flow recovery is feasible and to ensure the reliability of the project's first source of repayment. As the second source of repayment, the guarantor and mortgage collateral are also important factors to measure the borrower's qualification. Through comprehensive analysis, when the parent company of the borrower can not provide the guarantee for it, creatively apply the idea of supply chain finance to provide the full joint and several liability guarantee through the demand side of imported raw materials of the project and the downstream core enterprise. Design guarantee scheme to lay the foundation for credit granting. At the same time complete the design of related credit and guarantee programs.
【學(xué)位授予單位】：西南財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F832.4

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本文編號(hào)：2264397