中国企业海外资源性投资损失原因探析及对策

Chinese Overseas Resources Industry Investment Loss Analysis And Resolving Method

国家"走出去"战略实施十年有余,海外投资规模成倍扩展,但近期海外投资亏损事件频见报端,引起了国内学术界的关注。笔者以项目进入时决策理性、进入时项目期望运营收益为运营是否损失的评价基础,指出资源国政局变动、资源无法落实、投资成本严重超预期和项目执行延期是导致资源型项目损失的四项主要因素。对此,企业应从注重项目动态评估、主动对资产实施组合管理、加快制定国际工程造价定额等七方面制定应对策略;同时国家应尽快完成海外投资配套法律建设、注重鼓励提高海外投资绩效等。

Author analysis is basing on the rationality of decision making at the time of entry and the expected operating income at the time of entry. The author concludes that change in political environment of resource countries, difficulty of resources attainability, significant overrun of investment estimates and delay of project execution of projects are four major factors leading to project losses. From perspective of enterprise, author sug- gests that comvanies may dvnarnically assess projects, take positive management on assets portfolio etc.