关于“财政投融资”范畴的认识

Viewpoints on the Concept of Fiscal Investment and Loan Program

“融资”仅仅是一个资金来源的范畴，不是资金运用的方式，放确切地说应称“财政投融资”；“投资”是无偿还是有偿，取决于政府预算与财政投融资的关系及财政投融资资助项目的性质；财政投融资应以实现特定政策目标为目的，不一定形成实物资本；以“财政投融资”取代“财政信用”，应当以此为契机，使政府的金融活动在运作和管理上走向规范化；“公共信用”的提法比“财政投融资”能更好地反映出政府金融活动的本质特征。

Understanding on the concept of Fiscal Investment and Loan program is not so identical in the current theoretical circles.The author of this thesis holds the idea that Loaning should be regarded as the source of fund; whether the Investment is paid or not ismainly decided by the nature of the program; the Fiscal Investment and Loan Program should be aimed at the realization of policy goal,and the formation of physical capital is not absolutely necessary; and compared with the Fiscal Investment and Program, the PublicCredit is a better term.