开发性金融缓解民营企业融资困境研究

Research on Developmental Finance Relieving the Financing Dilemma of Private Enterprises

作为一种在世界范围内广泛存在且以服务国家战略为经营原则的金融形态,开发性金融可以通过平台建设机制、组织增信机制和风险分担机制来有效降低其支持民营企业融资过程中存在的交易成本、违约风险和违约损失,从而极大缓解民营企业的融资困境。但是与国际开发性金融融资支持模式相比,国内开发性金融仍然存在着以信贷模式为主、其他融资模式较为落后、信贷结构不合理、融资评审机制较为落后,以及过度依赖企业信用、风险防范机制较为落后等问题,因此,我们应该从丰富金融品种、健全金融体系,改善贷款结构、健全评审机制,以及建立偿债准备金、完善信用机制等三个方面采取相应的对策,以更好地缓解民营企业的融资困境。

As a financial form widely existing in the world and operating on the principle of serving the national strategy,developmental finance can effectively reduce the transaction cost, default risks and default loss in the process of supporting private enterprises’ financing by means of platform building mechanism, organizational credit enhancement mechanism and risk sharing mechanism. Thus, the financing difficulties of private enterprises can be greatly alleviated. However, compared with the international counterparts, there are still some problems in the domestic developmental finance, e.g., it is mainly composed of credit loans with other financing modes lagging behind, the credit structure is unreasonable, the financing evaluation mechanism is relatively backward, and it is excessively dependent on enterprise credit, with an ineffective risk prevention mechanism. In order to alleviate the financing dilemma of private enterprises, we should take corresponding countermeasures from three aspects: enriching financial products and improving financial system;optimizing loan structure, and establishing a sound evaluation mechanism;and creating a debt repayment reserve and improving credit mechanism.