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论文编号：	13007
作者编号：	2320190738
上传时间：	2022/3/3 16:16:15
中文题目：	X信托公司政信业务风险管理研究
英文题目：	A Research on Risk Management of Government-trust Projects in X Trust Company
指导老师：	梅丹
中文关键字：	信托；政信项目；政府融资平台；风险管理
英文关键字：	Trust; Government-trust Projects; Government Financing Platforms; Risk Management
中文摘要：	风险管理从企业创立伊始就伴随着企业，风险管理的成功与否决定了企业是否能够发展壮大。信托业属于金融行业，在过去的二十年间快速发展，其横跨资本市场、货币市场以及实业领域的特点使其在已经成为金融行业的中坚力量。信托项目的收益较高，受到投资人的青睐，但高收益也伴随着高风险，信托项目的风险管理显得愈发重要。 政府融资平台的银行贷款业务近年来受到了银监会诸多的政策限制，银行对政府融资平台发放贷款愈发困难，而信托以其灵活的交易结构、宽松的资金监管以及强大的募资能力受到了政府融资平台的青睐，信托逐渐成为了政府融资平台最主要的融资渠道之一，政府融资平台和信托合作的业务一般简称为政信业务。随着政府融资平台和信托公司合作的不断深入，大量的社会资本参与到了各地的基础设施建设，促进了中国二三线城市的基础设施发展，信托业也凭借这种业务方式收取了丰厚的利润，得到了新一轮的扩张。但快速的发展也伴随着风险的积累，信托公司对政府融资平台资质审核较松，一部分并没有还款实力的政府融资平台从信托公司处获得了大量贷款，导致政府隐性债务激增。2018年，信托业出现了首单省级城市的政府融资平台违约的案例，政信合作遭遇了严重的信任危机。因此，信托公司对政府融资平台的风险管理应更加规范。 本文选取了X信托公司“TS金控项目”作为政信合作项目的典型案例，通过分析该案例，找出X信托公司在开展政信业务时对政府融资平台风险管理的不足，并提出了相应改进建议。研究结果表明，在风险识别方面，X信托公司对于政府融资平台的风险识别维度较为单一，同时存在着政信项目风险监察处理的风险监查工作不充分、风险处理不规范等问题。在风险评估方面，存在着财务指标的评价不充分，对政府隐性债务统计不全以及对担保主体风险不重视等问题。针对X信托公司在政信业务风险管理中出现的问题，本文提出了风险管理的改进建议。从风险识别和风险评估两个方面，七个指标对风险进行管理，同时也通过问卷调查的方式对财务风险的指标进行了量化，使财务风险的评估更加具体可行。
英文摘要：	Risk management has accompanied the enterprise from the beginning of its establishment. The success of risk management determines whether the enterprise can develop stronger or not. The trust industry, which has developed rapidly in the past two decades, belongs to the financial industry. The characteristics, which the trust industry across the capital market, currency market and industrial fields have made it the backbone of the financial industry. Trust projects have relatively high returns and are favored by investors, but high returns are accompanied by high risks. The risk management of trust projects is becoming more and more important. The bank loan business of government financing platforms has been restricted by many policies of the China Banking Regulatory Commission in recent years. It has become increasingly difficult for banks to issue loans to government financing platforms. Trusts have been affected by the government with their flexible transaction structure, loose capital supervision and strong fund-raising capabilities. Favored by financing platforms, trusts have gradually become one of the most important financing channels for government financing platforms. The business of government financing platforms and trust cooperation is generally referred to as government letter business. With the continuous deepening of cooperation between government financing platforms and trust companies, a large amount of social capital has participated in the construction of infrastructure in various places, which has promoted the development of infrastructure in China’s second and third tier cities. The trust industry has also collected huge profits by virtue of this business method. Get a new round of expansion. However, the rapid development is accompanied by the accumulation of risks. Trust companies have a looser review of the qualifications of government financing platforms. Some government financing platforms that do not have the ability to repay have obtained large amounts of loans from trust companies, leading to a surge in government hidden debt. In 2018, the trust industry experienced the first case of default of a government financing platform in a provincial-level city, and the government financing platform and trust cooperation encountered a serious crisis of trust. Therefore, trust companies' risk management of government financing platforms should be more standardized. This article selects X Trust Company’s "TS Financial Control Company Project" as a typical case of government-trust projects. Through the analysis of this case, we find out the deficiencies of X Trust Company’s risk management of government financing platforms when conducting government-trust business, and proposes corresponding improvement suggestions. The research results show that, in terms of risk identification, X Trust Company's risk identification dimension for government financing platforms is relatively single, and there are problems such as insufficient risk identification work for post-loan management and irregular risk handling. In terms of risk assessment, there are problems such as insufficient evaluation of financial indicators, incomplete statistics on government hidden debt, and inadequate attention to the risks of guarantee entities. Aiming at the problems of X Trust Company in the risk management of the government and credit business, this article puts forward suggestions for improvement of risk management. In terms of risk identification and risk assessment, seven indicators manage risks. At the same time, financial risk indicators are quantified through questionnaire surveys, making financial risk assessment more concrete and feasible.
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