基础设施信托模式研究

发布时间：2018-06-29 02:32

本文选题：基础设施信托 + 融资渠道　；参考：《上海交通大学》2013年硕士论文

【摘要】：党的十八大及2013年的两会多次强调“加快城镇化建设”将会是未来若干年经济工作的重大任务之一，城镇化建设预计将在未来十年拉动40万亿元的投资，其中大部分资金将会用于城乡基础设施建设。然而，我国的基础设施建设仍面临资金缺口较大、投资资金来源单一依赖于财政资金和银行贷款、区域建设投资不平衡等问题。近几年用于基础产业的信托规模增势迅速，截至2012年第四季度末，基础产业信托余额已达到16501.8亿元，信托业作为架构民间资本与基础产业的桥梁，为基础设施建设提供了大量的资金，随着城镇化进程的加快以及基于政府日益鼓励民间资本参与城镇化建设的政策导向下，未来基础设施信托仍有很大的市场空间。全文在参阅大量历史文献的基础上，总结了我国当前基础设施建设的融资渠道并比较各类融资渠道的优劣势，梳理了现有的基础设施信托运用模式。随后文章分析了影响集合类基础设施信托预期收益的因素，以期为信托公司在设计集合类基础设施信托产品提供一些定价思路，具体是从宏观经济及项目自身特点两个角度出发进行分析，并基于对历史数据的实证分析归纳了对集合类基础设施信托产品的预期收益率产生影响的几大因素。文章最后阐述了当前发展基础设施信托面临的机遇及挑战，并提出了应对挑战的建议以供信托公司借鉴。
[Abstract]:The 18th CPC National Congress and the two sessions in 2013 have repeatedly stressed that "speeding up the construction of urbanization" will be one of the major tasks of economic work in the next few years. Urbanization construction is expected to boost investment of 40 trillion yuan in the next ten years. Most of this money will be spent on urban and rural infrastructure. However, the infrastructure construction of our country still faces the big fund gap, the source of investment funds depends solely on the financial funds and bank loans, the regional construction investment is not balanced and so on. In recent years, the scale of trust used in basic industries has increased rapidly. By the end of the fourth quarter of 2012, the balance of trust in basic industries had reached 1.65018 trillion yuan. The trust industry served as a bridge between private capital and basic industries. It provides a lot of funds for infrastructure construction. With the acceleration of urbanization process and the policy guidance of government to encourage private capital to participate in the construction of urbanization, there is still a lot of market space for infrastructure trust in the future. On the basis of consulting a large number of historical documents, this paper summarizes the financing channels of infrastructure construction in China, compares the advantages and disadvantages of various financing channels, and combs the existing infrastructure trust operation mode. Then the paper analyzes the factors that affect the expected income of the aggregate infrastructure trust, in order to provide some pricing ideas for the trust company to design the aggregate infrastructure trust products. Based on the empirical analysis of historical data, this paper sums up several factors that affect the expected return rate of aggregate infrastructure trust products. In the end, the paper expounds the opportunities and challenges facing the development of infrastructure trust, and puts forward some suggestions for the trust company to use for reference.
【学位授予单位】：上海交通大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.49

【参考文献】