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论文编号：	12236
作者编号：	2320180522
上传时间：	2020/12/16 13:01:21
中文题目：	P金融租赁公司外汇衍生品策略分析及应用研究
英文题目：	Analysis and Application of Foreign Exchange Derivatives in P Financial Leasing Company
指导老师：	齐岳
中文关键字：	金融租赁公司；外汇风险管理；外汇衍生品；案例研究
英文关键字：	Financial leasing company; Foreign exchange risk management; Foreign exchange derivatives; Case study
中文摘要：	随着近年来中美贸易战、全球新冠肺炎疫情等外部事件影响，以及我国汇率改革的不断深入，以人民币兑美元的为代表的汇率市场持续震荡。随着国际形势及我国汇率市场的改革进程加大，外汇风险管理的重要性日趋明显。 我国外汇衍生品市场产品包括人民币外汇远期、人民币外汇掉期、人民币外汇货币掉期、人民币外汇期权及期权组合等产品。一般由外汇指定银行开展代客外汇衍生品交易，符合条件的银行、非银行金融机构或非金融企业，可在中国外汇交易中心进行外汇衍生品交易。 近年来，“走出去”企业越来越多，外汇风险管理的需求也越来愈多。天津自由贸易试验区为全国第二个自贸试验区有租赁行业先行先试优势，同时天津作为北方最大的港口的天然地理优势，使得天津的租赁公司在全国租赁行业占有领先地位。根据《金融机构衍生产品交易业务管理暂行办法》，金融租赁公司开办衍生产品交易业务，须报中国银行保险监督管理委员会审批。P金融租赁公司目前暂未获得开办衍生产品交易业务的批复，但从地缘优势及企业优势来看，P金融租赁公司获得衍生品批准的可能性很大。 本文在国内外对外汇衍生品研究的基础上，以天津自贸区P金融租赁公司为研究对象，通过对P金融租赁公司的现行业务模式介绍，讨论P金融租赁公司对汇率风险管理的现实需求，结合目前汇率形势及我国外汇政策，探究适合P金融租赁公司的外汇衍生品避险策略，对外汇衍生品策略的利弊进行分析，进而讨论出P金融租赁公司的外汇衍生品日常管理流程，帮助P金融租赁公司的进行外汇衍生品管理。
英文摘要：	With the impact of external events such as the China-Us trade war and the global COVID-19 epidemic in recent years, as well as the deepening of China's exchange rate reform, the exchange rate market of CNY against THE US dollar continues to fluctuate. With the development of the international situation and the reform of China's exchange rate market, the importance of foreign exchange risk management becomes more and more obviously. In recent years, there are more and more "going out" enterprises, so the demand for foreign exchange risk management is also increasing. Tianjin Pilot Free Trade Zone is the second pilot free trade zone in China. Due to the policy advantages of the pilot free trade zone for the leasing industry and the natural geographical advantages of Tianjin as the largest port in north China, leasing companies in Tianjin occupy a leading position in the leasing industry in China. As the regulation in China, if financial leasing companies want to use derivatives to manage the risk of exchange rate, they should get the approval first. P Financial Leasing Company has not yet obtained the approval for the establishment of derivatives trading business, but from the perspective of geographical advantages and corporate advantages, P Financial Leasing Company has a great possibility to obtain the approval for derivatives. On the basis of research on foreign exchange derivatives, this article use P Financial Leasing Company in Tianjin free trade zone as the research object. First ,this article introduces the current business model of P Financial Leasing Company and exchange rate risk management demand of P Financial Leasing Company. Then this paper explores suitable derivatives for P Financial Leasing Company, and analyzes the advantages and disadvantages of various foreign exchange derivatives scheme, and discuss the P Financial Leasing Company's foreign exchange derivatives daily management process, help P Financial Leasing Company to manage foreign exchange derivatives.
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