资产证券化在交通基础设施建设的应用研究

发布时间：2018-04-24 06:22

本文选题：交通基础设施融资 + 资产证券化　；参考：《中央民族大学》2013年硕士论文

【摘要】：交通基础设施历来是经济发展的先决条件,世界各国都十分重视交通基础设施的建设,中国也不例外。我国政府从2001年就开始制定《国家高速公路网规划》和《中长期铁路规划》,指导今后二、三十年的铁路、公路建设,以满足经济发展的需要。但由于交通设施项目一般以巨额资金为支撑,作为主要资金来源的国家财政资金逐渐下降和银行贷款的巨大财务费用容易造成交通设施运营公司的亏损的情况下,解决交通基础设施建设资金问题就显得十分突出,探讨新融资方式就具有价值。为解决交通设施建设资金不足的问题,我国近年来引进了新的融资方式,例如利用外资、项目融资等。这些新的融资方式在一定程度上缓解了交通建设资金需求的问题,但这些方式也有适用的范围和一定的局限性。作为二十世纪伟大金融创新的资产证券化作为融资的一种新方式,已成为解决我国交通基础设施资金需求的一种有效途径。交通基础设施采用资产证券化融资,可采用的模式有离岸模式、政府主导模式、信托模式、专项资产管理计划等模式。在这些模式当中能够有效体现交通基础设施特点和宜于操作实施的模式为专项资产管理计划。因此本文从阐述我国交通设施建设融资的现状出发,论述了资产证券化运用到交通设施建设的可行性,对比分析了我国目前交通设施采用的资产证券化几种常用模式,重点论述了专项资产管理计划模式特点、在实际运用当中出现的问题,并提出进一步完善的对策。
[Abstract]:Transportation infrastructure has always been a prerequisite for economic development. Every country in the world attaches great importance to the construction of transportation infrastructure, and China is no exception. Our government has been working out the National Highway Network Plan and the medium and long term Railway Plan since 2001 to guide the railway and highway construction in the next 20 or 30 years to meet the needs of economic development. However, because transportation facilities projects are generally supported by huge amounts of funds, the national financial funds, which are the main sources of funds, are gradually declining and the huge financial costs of bank loans are likely to result in losses of transportation facilities operating companies. It is very important to solve the problem of transportation infrastructure construction fund, and it is valuable to discuss the new financing method. In order to solve the problem of lack of funds for transportation facilities construction, China has introduced new financing methods in recent years, such as the utilization of foreign capital, project financing and so on. These new financing methods alleviate the problem of traffic construction capital demand to a certain extent, but these ways also have the scope of application and some limitations. As a new way of financing, asset securitization, which is a great financial innovation in the 20th century, has become an effective way to solve the capital demand of transportation infrastructure in China. The transportation infrastructure adopts asset securitization financing, which can be used in offshore mode, government leading mode, trust mode, special asset management plan and so on. These models can effectively reflect the characteristics of transport infrastructure and are suitable for operational implementation of the specific asset management plan. Therefore, this paper discusses the feasibility of the application of asset securitization to the construction of transportation facilities, and compares and analyzes several commonly used modes of asset securitization in China. This paper mainly discusses the characteristics of special asset management plan mode, the problems in practical application, and puts forward some countermeasures for further improvement.
【学位授予单位】：中央民族大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F512.3

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