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论文编号：	6729
作者编号：	2120112805
上传时间：	2014/12/5 13:56:59
中文题目：	我国基础设施信托的风险控制研究
英文题目：	The reseach?on?risk?control?of?China''''s?inftrastructure construction?Trust——a case study on Jianguo Road pipplline project usufruct trust
指导老师：	李莉
中文关键字：	信托公司，基础设施信托，风险控制，信政合作，收益权信托
英文关键字：	Trust company , Infrastructure construction trusts，Risk control, Trust&Government cooperation，Transfer?right?of?proceeds?of?assets?entrust
中文摘要：	本文通过运用风险控制、内部控制、财务风险、案例分析等相关理论知识，以北方信托发行的天津市武清区建国路项目集合资金信托计划为例，对我国现有基础设施信托的风险控制进行研究。本文从地方政府融资平台的经营现状、政策风险、财务风险、信用风险的分析入手，发现地方政府融资平台的违约风险以及随之引发的市场风险；以笔者的工作经验，通过对上述集合信托的案例分析以及对地方政府融资平台的经营分析，阐述了当前基础设施信托在风险控制上所存在的问题，以及面临的挑战与机遇。本文列举了基础设施信托所面临的政策与宏观调控风险、项目建设与市场风险、信用风险、财政预算风险、流动性风险与管理风险等，并重点分析了上述风险的形成原因与其影响。根据笔者对市场的研究对基础设施信托以及信托行业未来发展的分析，提出了降低政府融资平台履约风险、完善地方政府融资平台担保措施的风险控制优化目标，同时制定了以采用动态还款机制、完善辅助担保措施、引入质押担保措施、引入第三方担保公司履约担保来加强基础设施信托风险控制效力的优化方案。 信托行业现已成为金融市场上仅次于银行业的第二大行业。由于其高端理财的特点，往往不被民众所熟知，而基础设施信托的兴起具有当下社会体制的特点与实效性。本文旨在为在中国国情下的地方政府融资以及信托行业的结合产物——基础设施信托的风险控制提出相关有实际意义的风险研究和风控建议，从而希望为我国不断崛起的信托业与基础设施产业，在变幻莫测的经济环境下如何积极有效地结合运用同时应对风险提出建设性的新思路，为中国经济的健康持续发展出谋划策。
英文摘要：	The paper is focused on the study of the risk control of our current Chinese infrastructure construction trusts through one example of The Northern International Trust Investment Co., Ltd.’s trust investment project, the Jian Guo Road Project Trust. The study means includes theoretical knowledge on risk control, internal control, financial risk and case study. This paper starts with analysis on the management performance, policy risk, financial risk, credit risk of the Local Governmental Financing Platforms (LGFPs), leading into the analysis of possible production of market risk from default risk of the LGFPs. As an experienced personnel working in the field, the author has indicated the risk control shortages of the current infrastructure construction trusts, the challenges and the opportunities the industry faces, by means of case study on the case mentioned above and the management analysis of LGFPs. The paper also listed the policy and macroeconomic control risk, project construction and market risk, credit risk, fiscal budget risk, liquidity risk and management risk, then focused on the analysis of causation and influence of the above risks. According to the author’s research on infrastructure construction trust and the analysis of the future development on the trust investment industry, the paper demonstrates the optimization goal of risk control to minimize default risks from LGFPs and to improve assurance protection of LGFPs’ financing., as well as makes risk control improvement proposals on infrastructure construction trusts. The methods include the optimization goal of risk control, the improvement of auxiliary guarantee measures, introducing the method of mortgages and third party guarantee companies.
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