CAJ | 학술논문

为了进一步发挥水利投融资平台对大规模水利建设的融资支持作用，提出了利用水利投融资平台发行企业债券这一方法。对债券融资相对于银行贷款的主要优势进行了分析。梳理了近期平台发债面对的相对宽松的政策形势，对近期地方基础设施建设的融资需求和地方政府债券的供给情况进行了对比，认为短期内利用平台进行建设融资仍是较优选择，同时水利投融资平台发行债券已经有了一定的成功范例，均表明利用水利投融资平台发债具有较强可行性。从企业建设、项目选择、争取主管部门支持、选择发债时机、提升信用等级等方面对平台债券发行的关键环节进行了策略分析。提出了保障水利投融资平台债券发行的政策建议。
위료진일보발휘수리투융자평태대대규모수리건설적융자지지작용，제출료이용수리투융자평태발행기업채권저일방법。대채권융자상대우은행대관적주요우세진행료분석。소리료근기평태발채면대적상대관송적정책형세，대근기지방기출설시건설적융자수구화지방정부채권적공급정황진행료대비，인위단기내이용평태진행건설융자잉시교우선택，동시수리투융자평태발행채권이경유료일정적성공범례，균표명이용수리투융자평태발채구유교강가행성。종기업건설、항목선택、쟁취주관부문지지、선택발채시궤、제승신용등급등방면대평태채권발행적관건배절진행료책략분석。제출료보장수리투융자평태채권발행적정책건의。
The method of using water conservancy financing vehicle to issue bonds for water conservancy construction is proposed . The advantage of bonds to bank loans is analyzed .The recent bond issuance policies about financing vehicles is combed ,the supply of local government bonds and the local infrastructure financing needs are compared ,the analysis shows that the use of the financing ve‐hicles for construction financing is still an optimum choice in the short term .At the same time ,there are some successful examples of water conservancy financing vehicles issued bonds already ,all the analyses above show that using water conservancy financing vehicle to issue bonds for water conservancy construction is highly feasible .The strategies of bond issuance are analyzed ,including company construction ,project selection ,getting support from competent departments ,choosing appropriate time to issue bonds and improving credit rating .Finally ,some decision-making recommendations of ensuring water conservancy financing vehicles issue bonds are put forward .