Research on Risk Analysis and Avoidance of Private Financing

Private financing is a supplementary of financial services and capital market allocation of resources, and it is also an important financing channel for SMEs and an important factor which has great impact on economic and financial operations. However, with the growing scale of private financing, there are large potential risks which affect the normal operation of private financing, and even affect the long-term development of financial markets. This paper analyzes the current situation of private financing and risks existing in current private financing, and propose some ways to avoid the risk of private financing, to provide a theoretical basis for future research on private financing risks.

Research on the Risk Management Issues of VAM Agreements in Private Equity Financing

At present,the biggest obstacle that growing enterprises may encounter in their development process is insufficient funds.Private equity financing does not only solve the capital problem of enterprises,but also provide enterprises with professional management concepts and even help growing enterprises to go public in advance.However,high returns must be accompanied by high risks.For example,private equity financing has information asymmetry risks,principal-agent risks,etc.,and these risks make it impossible to maximize the advantages of private equity financing.Therefore,in order to reduce the risks brought by financing,investment and financing parties should choose to sign gambling contracts to reduce the risk.In recent years,the use of VAM agreements has become more in China.However,according to incomplete statistics,less than 30%of VAM agreements are successful,and this result is mainly due to the insufficient depth and breadth of research on VAM agreements.Therefore,this article will comprehensively analyze the problems that need to be paid attention to when signing a gambling agreement by introducing the case of Anda Technology,and the issue of targeted risk prevention will also be discussed in this paper.

Structural Reform Holds the Key to Reducing Social Financing Cost

In the last couple of years, social financing costs have shot up in China despite an overall capital abundance and increasing market-based capital allocation. This paper has investigated overall financial cost and capital cost ratio as two measurements of financing cost, compared financing costs of different channels, examined the relationship of risk premium, financial repression, interest rate liberalization, and resource occupation versus financing cost, and addressed the problem of high non-manufacturing cost. On such a basis, specific countermeasures have been proposed. The main conclusion of this paper is： The current high social financing costs primarily result from economic structural imbalance. The fundamental solution lies in continuing structural reform and credibility system development to eliminate barriers in the transmission of capital circulation policies such as expanding equity financing, relaxing market access formalities for small and micro financial institutions, and improving the bankruptcy system to give full play to the ＂survival of the fittest＂ mechanism of the market.

Mechanism Research on Standardized Development of Rural Private Finance

In generalizing the researching conditions of researchers on private finance,the paper introduces the connoted meaning of rural private finance broadly and narrowly.The paper states the forms of rural private finance(including private loaning,private bank,rural private collecting,financing organizations,cooperatives,NGO,small loaning organizations and so on),the relations between rural private finance and rural economic relations,pointing out that it is the combination of the strong and the weak,which may generate benefits with the operation of marketing mechanisms.The paper analyzes the historical causes,supervision causes and cultural causes of rural private finance,discussing mechanisms of standardized development of rural private finance:firstly,standardize the organization management mechanisms,including scaled controlling mechanisms and bank management mechanisms;secondly,complete finance supervision mechanisms;thirdly,moderate government intervention,including affording liberal policy environment and reducing the improper intervention;fourthly,upgrading qualities mechanisms,including cultivating the rural credit culture and improving the quality of regulatory personnel.

Implications from Park Public-Private Partnership(PPP)Initiatives in China and Japan

In this study,the statistical information of 166 park Public-Private Partnership(PPP)projects in China,such as investment,area,project stage,and locality area,was collected to analyze types of clusters and defined five types.For each type of cluster,it was possible to analyze the merits of park PPP projects in China.The case study also revealed the construction process of the entities that build,manage and operate the projects.With the findings from the analysis,it can present a perspective on Japan and China and compare park Private Finance Initiative(PFI)and PPP projects between Japan and China.

The Implications of Population Decline and Fiscal Austerity on Public Nature:Insights From the Evolution of Urban Park Management System in Japan

Facing challenges of population decline and fiscal austerity,Japan has implemented a series of initiatives to promote public-private partnerships(PPP)to ensure the sustainability of urban parks and revitalize urban spaces.These initiatives,while alleviating the government’s financial burdens on parks,have also raised concerns about the potential erosion of publicness and public interests resulted from the commercialization of public assets.This paper reviews the evolution of Japan’s urban park management system after World War II—including three phases of being purely public goods,initiating marketization,and diversifying management entities.The functions of parks have continuously enriched,and the construction,management,and operational modes have shifted from government-led towards multi-stakeholder participation,along with expanded funding sources.By examining the PPP types,driving forces,implementation mechanisms and challenges in urban park management,this paper points out that,in different eras and social contexts,the Japanese government has kept adjusting its role to maximize public interests.This has proactively updated the implications of publicness in infrastructure like urban parks,from a post-war opposite of publicness versus privateness on ownership,to the participation of private capital for a higher efficiency,and finally to a community for a stronger regional competitiveness.The reforms of urban park management system in Japan offer significant lessons and insights for urban infrastructure management in other countries and regions.

Green for Green

China pushes for green bond directives The world may be no stranger to green finance—finance that pays special attention to environmental health,but when it comes to China,the country remains—well,green to the concept.