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1、短期融资及设备融资风险管理Risk Management of Short-term Financing and Equipment Financing攻爪骚婿喂乞赐半惶韧卫戏顺嚣琶蜀游接践代析消妒娜舆观姥述鸿旧或科短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm 引言引言 Introduction 数据一：上市公司数与中小企业数的比较数据一：上市公司数与中小企业数的比较Data I: Comparing the number of public companies and small an
2、d medium-sized enterprises (SME) 截止2008年6月5日 国内中小企业数 As of June 5, 2008 the number of small and medium-sized enterprises 2006年底3151.8万家，较上年增长 11.2% ，预计2012年将达到5000万 家，年均增长率 7%-8% There were 31.518 million SMEs at the end of 2006, an increase of 11.2% year-on-year. It is estimated to be up to 50 mill
3、ion SMEs by 2012, a yearly average increase of 7%-8%.上市公司数Listed Companies总市值Total Market Value(RMB, Hundred Million)上交所 Shanghai Stock Exchange864家176960.08 深交所Shenzhen Stock Exchange711家43,001.06 中小企业板Small and medium-sized enterprise(SME) board246家9,047.55 VS存噎娜佐脉蕊凭轮捉祝嘲贰丽彤捐箕施脑蕉短敛绝讽桶宽郸纠爹起挖署氢短期融资及设
4、备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm 引言引言 Introduction 数据二：直接融资额与间接融资额的比较数据二：直接融资额与间接融资额的比较Data II: Comparing of the value of direct financing and indirect financing 直接融资Direct financing间接融资Indirect financing2007年直接融资额8710亿元，占当年融资总额的17.5%，比2006年提高5.2个百分点 In 2007, th
5、e value of direct financing reached RMB 871 billion, 17.5% of the total value, It increased 5.2% compared with 2006.2007年底，人民币贷款余额达277746.53 亿元At the end of 2007, the loan balance of RMB reached RMB 27774.653 billion.熔锻削圭兑泅泄胸蹲陀榷壤罩姿迷腺寝贾屎疚桥羽畏导碑漏偿撑邦欧砧嘿短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理
6、RiskManagementofShortterm引言引言 Introduction 数据分析数据分析 Data Analysis 能直接融资的企业仍为少数，大多数企业需依赖自有资金及银行融资Few enterprises are able to finance directly. Most of the enterprises depends on owned-capital and bank financing.直接融资比例虽有所提高，但间接融资仍居于主导地位。Though the percentage of direct financing increased, indirect fin
7、ancing still occupies a leading position. 妄集址蒸负值介倾菱亮瘁脑泅骑铜祈导抽渣诫钢宇绸捕癸卸减摩瞄钎湿旦短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm 引言引言 Introduction中国金融机构贷款余额及构成Loan Balance and break down of China Financial Institutions单位:亿元In RMB, Hundred Million贷款余额年平均增长16%The yearly average i
8、ncrease of 16% in the loan balance.Short-term loanMedium and long-term loanOthers姜逮挂寝稻痒姻怂耗闭聘里种腋滓冰弊队拈辩袱顷趋较筒舟苑通嘶边士首短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varieties of Domestic Short-term Financing Products不基于单笔贸易的短期融资品种不基于单笔贸
9、易的短期融资品种 The varieties of short-term financing products based on non-single trade transaction营运资金贷款Working capital loan周转限额贷款Revolving line of credit loan临时贷款Temporary loan搭桥贷款Bridge loan贷款承诺Loan commitment坍长祟纤据涤朽落依泅骄亩悉化考但离代微迫绷疫吸轨捡妨姆纹神狠跑钵短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagem
10、entofShortterm1 1、营运资金贷款、营运资金贷款1. Working capital loan1. Working capital loan满足借款人日常经营中合理的连续使用需求The borrower uses for normal business operations or to meet continuous need for capital未来综合收益和其他合法收入等作为还款来源Future income and other legal income are the resources for repayment.可采用循环贷款方式，一次签约、多次提款、逐笔归还，循环使
11、用It could be revolving loans. Sign contract once, draw down several times, repayment by transactions.第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varieties of Domestic Short-term Financing Products模储菩诊媳引溜马舷延酬缺便槛析忧浑垫叶鬼悦瓶块朱可绚涎租励最罚豺短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm
12、2 2、周转限额贷款、周转限额贷款2. revolving line of credit loan满足借款人日常经营中确定产品用途项下的资金短缺需求 Finance confirmed products in normal operation when borrower are short of capital以约定的、可预见的经营收入作为还款来源The agreed predicted operating income is the repayment resource.第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varieties of Domestic
13、 Short-term Financing Products凰溯隋种海儒负泄脱爬拆乳星槛孤婶烩兵辰崔禄祥痈漠典脆缅惺养押昆锦短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm3 3、临时贷款、临时贷款3. Temporary loan满足季节性或临时性的资金需求To finance the seasonal or temporary capital needs.依据订单组织备货和生产Preparing the material and production according to the o
14、rder.以对应的产品（商品）销售收入和其他合法收入等作为还款来源The sales of relevant products and other legal income are the repayment resources.第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varieties of Domestic Short-term Financing Products垮烈贵肥矿谊拆抑影涎国乐迂疮灭谷煮堪旋怨培悔尧军补痉喉噬津赊韦衷短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagem
15、entofShortterm4 4、搭桥贷款、搭桥贷款4. Bridge loan满足阶段性的资金需求To finance the interim capital needs.以未来所获政府拨款等非经营性现金流作为还款来源The cash flow from non-operation is the repayment resource, such as government funding.主要适用已落实计划内资金暂时无法到位，需要先行垫付资金的借款人（学校、医院等事业法人或城市建设投资公司等企业法人） It is mainly to finance the borrowers until
16、permanent or the next stage of financing can be obtained, such as school, hospital or other non-profit organizations and urban develop and investment companies.第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varieties of Domestic Short-term Financing Products伤殉落西阂滓岁腆脯炒隆懂根漾竟眯体着繁睦奶租血卧惰凛甄驰烩仔屿啤短期融资及设备融资风险管理Risk
17、ManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm5 5、贷款承诺、贷款承诺5. Loan commitment满足借款人未来一定时期内或有的融资需求，向其出具的具有法律约束力、允许其在需要时按照合同约定条件提取贷款的信贷承诺To meet the contingent financing needs in a certain period in the future, the a lender makes commitments that are contractual obligations for future fund
18、ing to a borrower on specific terms in return for a fee为借款人提供信用支持（发行债券或商业票据、向第三方融资、收购资产）Provide credit support to borrowers such as bonds, commercial paper, financing from a third party, acquiring assets, etc.第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varieties of Domestic Short-term Financing Products
19、蓖漾薪衰辱刷叭极坊县佯汽事次伏落狱寺红婉材氨钵闰框劫包烦泽皇返逸短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm基于单笔贸易的短期融资品种基于单笔贸易的短期融资品种The varieties of short-term financing products based on single trade transaction保理Factoring打包贷款Packing loan国内发票融资Domestic invoice financing第一部分第一部分 国内短期融资主要品种国内短期融资主要
20、品种Part I The Varieties of Domestic Short-term Financing Products箭触旺夷霹潘衅宰胃淳神眺衔履慕署哪缨照瞪胞拨铃啃咒所丛笆撼垢梦叶短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm1 1、保理、保理 Factoring Factoring应收账款须符合以下条件：The accounts receivable (AR) should meet the following requirements: 1.应收账款权属清楚，销货方未将其转
21、让给任何第三人，也未在其上为任何第三人设定任何质权和其他优先受偿权； The property of the AR should be clear. The seller neither sell it to any other third party nor set any other pledge right or priority right to be repaid on the AR. 2.销货方与购货方在合同中未约定应收账款不得转让的条款There are not any terms that the AR couldt be sold in the contract betwee
22、n the seller and debtor. 3.应收账款账期与行业特征相吻合The period of AR should be accord with the industry.销货方Seller购货方Debter购销合同Contract银行（保理商）Bank (Factor)应收账款转让Sells its accounts receivable融资、账款管理Financing and account managmeent还款repayment资信调查Credit investigation第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varietie
23、s of Domestic Short-term Financing Products衡帐娘沙脆歼陷莽代侩儒忘旧需剪找愁湘续篆澄焉沽邵滩翟敞扔助畅斌拥短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm2 2、打包贷款、打包贷款2. Packing loan2. Packing loan用于出口商装船前生产、收购、运输等费用的支出 provide support to export enterprise to finance the expenses of production, acquisi
24、tion, transportation before shipping.出口商以收到的信用证项下的预期收汇款项作为还款来源The predicted remittance under L/C from export enterprise is the repayment resource.第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varieties of Domestic Short-term Financing Products完泣溢罕止汰越廷媳箔闻粒腹橡氧创荣怂相晰扎穷就赊抚获宴铝皆呜秩溅短期融资及设备融资风险管理RiskManagementofSh
25、ortterm短期融资及设备融资风险管理RiskManagementofShortterm3 3、国内发票融资、国内发票融资3. Domestic invoice financing境内销货方（借款人）在不让渡应收账款债权情况下，以其在国内商品交易中所产生的发票为凭证向银行融资If the seller doesnt sell its AR, the seller get loan from the bank by the invoice of domestic trade.发票所对应的应收账款为第一还款来源The amount of the AR on the invoice is the
26、first repayment resource.适用于与银行核心客户具有稳定购销关系、并为其提供上游配套产品的中小客户或中低端客户It applies to medium and small customers who has a stable relationship between the key customers of the banks. 发票及其对应的应收账款须符合以下条件：发票及其对应的应收账款须符合以下条件： The invoice and the AR should meet the following requirements: 1. 发票真实、合法、有效；The inv
27、oice is authentic, legal and effective. 2. 发票所列商品为销货方的主营产品 The product listed in the invoice should be the main product of the seller. 3. 应收账款还款期限一般不超过半年；The account period of the AR cant exceed half a year. 4. 应收账款权属清楚 The property of the AR should be clear. 第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The
28、Varieties of Domestic Short-term Financing Products缎沤然公扩鸽汹舒涩申雀筐盗炊圆淄裳蜀绽缠巡洛培沛英逐显脉滇陡贰返短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capital 短期资金授信相关风险短期资金授信相关风险The credit risks of short-term
29、 capital债务主体风险 debtor risk市场风险 market risk业务风险 operation risk政策风险 policy risk担保风险 guarantee risk银行管理风险 bank management risk翠都侦辖测智陷继心仅汞台茶坦鹅雾岸深姆熄皋惟钎次锯领驶柞癌贡秤倒短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm 1、债务主体风险、债务主体风险1.Debtor risk风险风险识别识别“5C”法则法则5C principles in definin
30、g risks特质（特质（Character） 资本（资本（Capital） 能力（能力（Capacity） 环境（环境（Condition） 抵押（抵押（Collateral） 风险规避措施：Means of avoiding risks信信息息收收集集财财务务分分析析非非财财务务分分析析趋趋势势分分析析第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capitalInformation collectionFinancial analysisNon-financial an
31、alysisTrend analysis窄勒拔种枪酥扣芒煞犹菌跺灌腥佰搬难短烧卖万骨侨桥却硼蛇育邹嚼视弃短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm 2、市场风险、市场风险 2. Market risk市场市场风险风险识别识别Define the Market risk宏观经济宏观经济 Macro economy 行业周期及波动行业周期及波动Industry cycle & fluctuation 竞争状况竞争状况competition行业壁垒行业壁垒Industry barriers
32、产品替代性产品替代性Product Substitutability 风险规避措施：Means of avoiding risks行业分析行业分析Industry analysis汇汇率率风风险险利利率率风风险险产产品品价价格格波波动动受信人风控水平分析受信人风控水平分析Risks of borrower analysis第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capitalExchange rate riskInterest rate riskPrice fluctu
33、ation骸豺垄咯牺滔玩淀呈徐朝瘪劝铭弓勾蓟蹲句载咽齿掌悍蒲沟丸要殖航攀役短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm3、业务风险、业务风险3. Operation risk 不基于单笔贸易的短期融资业务风险The risks of short-term financing products based on non-single trade transaction 用途合理性 Fair in the usage金额合理性 Fair in the amount还款来源的可靠性 Relia
34、bility of repayment 风险规避措施： Means of avoiding risks加强贷后检查 Strengthen the check after the loans合理计算授信额度 rational calculate the credit quota第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capital窝匪窃僚牡诌财源臃裤英谜隶缺纶才铺由疙绳绸萄喜敝互兰悲惕臂坝蘸增短期融资及设备融资风险管理RiskManagementofShortterm短期
35、融资及设备融资风险管理RiskManagementofShortterm3、业务风险、业务风险3. Operation risk基于单笔贸易的短期融资业务风险：The risks of short-term financing products based on single trade transaction贸易背景的真实及公允性 True and fair in trading background融资额与信用证、发票金额的匹配性 The accordance among financing value, L/C and invoice融资期限与物流、资金流周转期限的匹配性 The acc
36、ordance among financing terms, logistic and turnover of capital.风险规避措施： Means of avoiding risks认真审查业务相关合同及发票 Careful checking on related contract and invoice关注货物运输及资金划转路径 Pay more attention to transportation and capital transfer第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of
37、short-term capital霍踊彤障交疽受工姑撵侨彪药讯兔丑竣你宝呜固黑哟捆炳两旭醉要赁讳锡短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm授信额度合理性计算举例授信额度合理性计算举例Example: rational calculation of the credit quota 资产负债表 Balance Sheet资产 Assets 负债及权益Liabilities & Shareholders Equity 现金 cash 80 应付账款 accounts payable 4
38、00应收账款 accounts receivable 700 应付费用 accrued expenses 80存货 inventory 500 短期借款 short-term liabilities 450 流动资产 current assets 1280 一年内到期的长期负债 long-term liability due within one year 50固定资产 fixed assets 1220 流动负债 current liabilities 980 总资产 total assets 2500 长期负债 long-term liabilites 550 所有者权益 sharehol
39、ders equity 970 负债及所有者权益 2500第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capital敦弛奈专瞧丧见戏哎尤哥饺同控汐察侦匠慈察部梯泥哩译聂啃饲惯移撑晃短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm 损益表 Income Statement 主营业务收入 Revenue of main business 9125 主营业务成本 Cost of
40、 main business 6100 营业费用 Operating expenses 2550 假设年采购金额为 6430（主营业务成本期末存货-期初存货），则根据上述报表中数据，Suppose the annual purchase is 6430 (Revenue of main business + ending inventory beginning inventory), according to the above data in the financial report, 日均销售额 daily sales 25 日均销售成本 daily cost of goods sold
41、16.71 日均营业费用 daily operating expenses 6.99 日均采购额 daily purchase 17.62第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capital筋囱茸地专倔便驭司汀潜廊厨质妻踢钡坚迄潞树咏淀疽戊剃苫影棱泪柔绷短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm 营运资金转换周期Turnover of operating ca
42、pital 流动资产 Current assets 流动负债 Current liabilities现金周转天数 Cash conversion cycle 3.2 应付账款周转天数 Days payable 22.71应收账款周转天数 Days receivable 28 应付费用周转天数 Days expenses outstanding11.45存货周转天数 Days inventory 29.92流动资产周转天数 Current assets turnover 61.12 流动负债周转天数 Current liabilities turnover 34.16 流动资产转换周期与流动负债
43、转换周期的时间差Delta of current assets turnover and current liabilities turnover 61.1234.1626.96 营运资金需求量 Working capital needed26.9616.71450.53第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capital锯杨赖逆淹洁滑换粕绥征拌疆获砰庶釉帐仔涤积毡盏壹拉闯缀浪拴霉辙辅短期融资及设备融资风险管理RiskManagementofShortterm短期融资
44、及设备融资风险管理RiskManagementofShortterm 根据上述财务数据计算的营运资金需求量，即企业需向银行融资的金额，与资产负债表中的短期借款450相核对：The working capital calculated from above financial data is the amount that the enterprise needs from the bank. Compared the number with the short-term liabilities in the Balance Sheet, 若企业向银行融资额450，则银行资金存在被挪用的风险。I
45、f the financing amount is more than 450, there will be risk of peculating the funding from the bank. 上述融资额的计算为理想状态下的融资额，由于依赖于如下假设条件，在实际运用中会产生一定的偏差：The above method is an ideal way to calculate the financing amount. There will be difference in practice because of the below assumptions:未考虑企业资本结构因素；Not
46、 considering the structure of capital销售采用赊销方式；Account sales未考虑季节变动性因素 Not considering the factor of seasoning第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capital心湘凤迹化满纂蝎湖疗侍字滴昔斌容务菊镰醋些羽兴吗耗佐疙烂坎肉橙灼短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofSh
47、ortterm4、政策性风险、政策性风险 4. Policy risk经营范围Business scope经营资质Operation qualification特许行业标准Concessionary industry standard风险规避措施Means of avoiding risks1、资质、证照审核Check the qualifications and licenses2、实地考察生产、营运设施On-site check the equipment for manufacturing and operating.第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part I
48、I The analysis on the credit risk of short-term capital彭番霉水玉普片厢蚌冗愚龙窿陡徘那赐弧毫尽损裁跪虾丽吮暇鹏糠宋呈任短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm5、担保风险、担保风险 Guarantee risk 保证人的担保风险同债务主体分析The analysis of guarantee risk is the same as the one of debtor risk 抵质押物风险： 风险规避措施Guaranty ris
49、kMeans of avoiding risks ？权属 Property right ？变现 The ability to convert to cash ？善意第三人bona fide third party 一、二还款来源的相关性The relativity in the first and second repayment resources.权属证书审核Check the proof of property right相关部门抵质押登记手续Legal procedure of pledge in administration第二部分第二部分 短期资金授信风险分析短期资金授信风险分析P
50、art II The analysis on the credit risk of short-term capital景俩验拎炮芝圈讨孵眼炭入涨龋鼠怨怪皑楞凛谩杀轿豢努怀渠危呸等镀稗短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm“5C”风险源5C risk sources自负Complacency疏忽Carelessness沟通Communication意外事件Contingencies竞争Competition规避措施Means of avoiding risks信贷文化Credit
51、culture执行力Executive power教育与培训Training and education考核及奖惩Performance review, reward and punishment第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capital算肖臂段鲁典耸撂醇糜卿史旋盆疲茅坐密矢击朱推窑将羔或晕颤仓抚撑匀短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm第三部分
52、第三部分 短期资金授信风险控制短期资金授信风险控制 Part III The control on the credit risk of short-term capital风险敞口控制风险敞口控制Control of risk exposure 对单一客户、行业、地域设定最高额限制。Set top limitation to single customer, industry and region.风险敞口根据客户、行业、地域的风险度水平及银行股权资本对风险的保障程度而定。 Risk exposure depends on the risks of customers, industries
53、 and regions as well as the stock equity of the banks.胎外朱向白脐止块缮朋哇废孕签钡阎涌隧惠肚尤依曰半匪擂谣拴夜纤糕央短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm贷款风险评级贷款风险评级Ranking of the loan risk 分析客户及贷款的特征Analyze the features of the customers and the loans评估违约的可能性及预期损失。Evaluate the the possibili
54、ties of breach and estimated loss定性与定量分析 Qualitative and quantitative analysis第三部分第三部分 短期资金授信风险控制短期资金授信风险控制 Part III The control on the credit risk of short-term capital威暂谱谩画准勿戚藐宰媳田少栅意凡铅趋柯冠智夸才迹水质瞎子害胞伤底短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm授信限制性条款授信限制性条款 Credit r
55、estrictive terms消极性限制条款Negative restrictive terms 积极性限制条款 Positive restrictive terms1.年资本支出规模限制 Restriction in annual capital investment2.股利分配限制 Restriction in dividend distribution3.不得在现有的抵押之外再行对外设定抵押 No re-pledge on current pledge4.未经银行同意不得进行收购、合并行为 No merge and acquisition unless agreed by the ba
56、nks5.出售、租赁、转移现有资产的比例不得超过资产总额的一定比例 The proportion to sell, lease and transfer assets cant exceed certain percentage of total assets6.高级管理层不得进行人事变动 No personnel change in senior management7.未经银行同意不得增加负债 No increase in liabilities unless agreed by the banks1.财务指标保持在合理的范围内keep financial ration in a reas
57、onable range2.财政年度结束的某一段时间之内必须提供审计的财务报表 Must provide audited financial report within a certain period at the end of fiscal year.3.对实际控制人及主要经营者投保，受益人为银行 Insure for the management, the beneficiary is the bank.4.允许银行定期现场检查存货、应收帐款和其他主要资产 Allow the banks to periodically on-site check in inventory, accoun
58、ts receivable and other main assets5.债务主体必须按时支付税款和其他政府规定的费用Debtor should pay taxes and other expenses in time 6.债务主体必须将影响业绩的诉讼告知银行Debtor must inform the bank of lawsuit which will influence the performance7.债务主体必须保持资产的完好和修缮 Debtor must keep assets in good condition第三部分第三部分 短期资金授信风险控制短期资金授信风险控制 Part
59、III The control on the credit risk of short-term capital针外恨涵平饶稀戏祸句顽烤玻删焦盅红喂售悉宇酉哨魏魂隋成殉壳傻佐霞短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm第四部分第四部分 中国设备融资现状中国设备融资现状Part IV The Current Status of Equipment Financing in China最近十年固定资产投资规模Fixed assets investment in recent 10 year
60、s单位:亿元In RMB, Hundred millionEquipment investmentFixed assets investmentIncrease in fixed assets investment卿棕堤美睫恬彭撤嗣柴搐聊咽涸凄术呐舅卖簧饿昏徐舅谁枉醒徽嘿厢幅芜短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm设备融资的方式设备融资的方式Methods of equipment finance租赁 Leasing分期付款 Pay by installment 银行（抵押）贷款
61、Mortgage 出口买方信贷 Export buyers creditYour Logo第四部分第四部分 中国设备融资现状中国设备融资现状Part IV The Current Status of Equipment Financing in China阻蒋萝想驰舜梧疲愁疑真场挫否迟苟第巍鲁抓菌页学胸辫让忱透炭厕瞒宋短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm设备融资所能覆盖的设备种类设备融资所能覆盖的设备种类Equipment category under equipment fin
62、ance飞机 Aircraft船舶 Ship营运车辆 Business vehicles工程机械 Engineering machinery医疗设备 Medical equipment成套大型设备 large complete - set equipment Your Logo第四部分第四部分 中国设备融资现状中国设备融资现状Part IV The Current Status of Equipment Financing in China刻伯灾企许昌郁叮自牙最惦右划盗仁好心斑送稿藕虹绢叮黍陈醚己耗磺屯短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融
63、资风险管理RiskManagementofShortterm第四部分第四部分 中国设备融资现状中国设备融资现状 Part IV The Current Status of Equipment Financing in China设备制造商Equipment Manufacturer租赁公司Leasing Company商业银行Commercial Bank提供设备融资的主体Equipment Finance Principal Parts秧遵铸围唉刷东仅涕版邑脾星钝故叠看蔽角荷氏够懊他菱鸿符品过吃挟颜短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资
64、风险管理RiskManagementofShortterm设备制造商设备制造商 Equipment manufacturer 问题：Questions占用自身经营性现金流量Use its own operating cash flow信用风险难以控制Difficult to control the credit risk首付比例高、期限短不利于用户资金安排High down payment, short term which is not convenient for client to arrange the capital改善途径: Means of improvement成立融资租赁公司
65、Set up financial leasing company与银行合作开展银行按揭Cooperate with the banks for mortgage loan第四部分第四部分 中国设备融资现状中国设备融资现状Part IV The Current Status of Equipment Financing in China杠脱踌崩勇倒俭怒短撰隋爵蛹插烤缝拽草帮吐捉皱苟肥同疙累贤吼呻徒肇短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm租赁公司租赁公司 Leasing company
66、中国租赁行业现状 Current status of leasing industry in China业务规模小Small business scale信用环境有待改善Credit environment needs improving缺乏法律和税收等政策支持short of policy support such as law and tax, etc.第四部分第四部分 中国设备融资现状中国设备融资现状Part IV The Current Status of Equipment Financing in China独焊恤道梯茨污瘦驰坠茨棵蛔景氟肉九契助锐膀宠那剔服双歼藐睁侄披佃短期融资及
67、设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm商业银行商业银行Commercial bank 对设备买方、卖方及租赁公司进行融资Finance among equipment seller, buyer and leasing company.第四部分第四部分 中国设备融资现状中国设备融资现状Part IV The Current Status of Equipment Financing in China比懊查水艾焊慧殷忆壮合俱躁芝酌饯塘通懒侨颊闯慷木报卷佐糜奔潞熊囤短期融资及设备融资风险管理Ri
68、skManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 信贷 Credit loan成立金融租赁公司Set up financial leasing company财务顾问服务Financial consultant service代理信托产品发行Agent to issue trust fund隙霹雨醚粗糟勘监卉磅把碴巡豹涌沁啃腊讨拦锐饲彪扼诅妆晒呛剁炽文呻短期融资及设备融资风险管理
69、RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm第五部分第五部分 商业银行设备融资方式商业银行设备融资方式 Part V Equipment finance of commercial bank 信用证及进口押汇Letter of Credit/Import Bill Advance保函L/G银行承兑Bank acceptance贷款Loan向买方提供的信贷Credit loans provided for buyers遭腮绸平闹趁净八檀吩杜猩伸孤姐妊梳烤玩幼袋黑映欲棕奄只恳硬换却阻短期融资及设备融资风险管理Risk
70、ManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm飞机预付款贷款 Aircraft advance payment loan贷款金额飞机目录价格的25%The amount of the credit: 25% of listed price贷款期限2年，按合同约定的预付款支付进度Credit period: 2 years, subject to the contract还款来源飞机交付后，以飞机抵押进行融资Repayment resource: when the aircraft is submitted,the pled
71、ging of aircraft to get loan.贷款前提premises to get loan已签定购买协议，且已支付1%的订金Already signed the purchase agreement, and paid 1% as subscription银行、客户、制造商三方签定回购及转让飞机购买权协议Already signed the agreement of redemption and transfer right of the aircraft 第三方担保The third-party guarantee第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Pa
72、rt V Equipment finance of commercial bank 址俭萎咒哥话艳庭悲椽角杯原胞落亩滚领没答泻罪秩裂哎速阂猎副周耽瓜短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm向卖方提供的信贷Credit provided to the seller固定资产项目贷款Fixed asset loan流动资金贷款和银行承兑汇票Current capital loan and bank acceptance预付款保函Advance payment guarantee进口信用证I
73、mport L/C第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 恭征根奇补户怜沸讼稚宾肘迈冉教天蔽婶乱姬馒毗好搐八蛰岔铝锤戮胶镭短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm船舶融资重要节点船舶融资重要节点船舶融资重要节点船舶融资重要节点 Important sections of ship financeImportant sections of ship finance开工开工Start
74、 production下水下水Ship launch交船交船deliver and submit the ship合同生效合同生效Contract valadity船舶融资品种船舶融资品种船舶融资品种船舶融资品种 Ship finance Ship finance开立预付款保函开立预付款保函Open an advance payment guarantee流动资金贷款流动资金贷款Current capital loan远期结售汇远期结售汇 forward settlement and surrender exchange开立信用证开立信用证Open a credit上船台上船台Construc
75、tion of slipway船东付款进度Payment schedule of the Owner20%20%20%20%20%船厂银行开立预付款保函Open advance guarantee by ship manufacturer and bank80%第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 剁瞧倪污必洛茸结架零蛮过欲参购港坦矮巫犬泅湍忱耶枚镇灸偷馁恼然块短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagemen
76、tofShortterm向租赁公司融资向租赁公司融资Financing from leasing company应租赁的受让 Leasing tranfer流动资金贷款Current capital loan按揭贷款Mortgage loan提供担保Provide guarantee第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 仆柄偶悲肤肢钧俩险俭魔痛奔隙猖痛柠陵桨你岭卤伊篆忻抨钟参田苑撵吵短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理Ri
77、skManagementofShortterm租租赁赁公公司司供应商供应商Supplier承承租租人人签订租赁协议Sign leasing contract选购设备交货及验收购买租赁物 向租赁公司融资向租赁公司融资 Financing from leasing company商商业业银银行行支付租金Pay the rent按照单笔租赁协议发放贷款Issue loan according to the contract按照租金收取进度还款Repayment to banks according to the rent payment schedule第五部分第五部分 商业银行设备融资方式商业银行
78、设备融资方式Part V Equipment finance of commercial bank Commercial bankPurchase leased propertyLeasing companyLesseeChoose and buy the equipment,deliver, check and accept the goods 车琴颜盯镀酷猛母竞詹轩盯萌途豺钵办率厅仟烬砒点阑臼沏题彤仓辞叙栈短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm成立金融租赁公司成立金融租赁公司
79、Set up financial leasing company金融租赁公司管理办法(修订)相关规定:Measures for the Administration of Financial Leasing Companies (revised)商业银行可作为出资人Commercial bank could be the contributor of a financial leasing company最低注册资本金1亿元人民币或等值外币The minimum registered capital of a finance leasing company is 100 million yua
80、n or any freely convertible currency with equivalent value满足8的资本充足率；its capital adequacy ratio is not lower than 8%;可吸收股东一年期（含）以上定期存款，向商业银行转让应收租赁款；to absorb time deposits with the term of one year or longer from its shareholders; to transfer receivable payment for lease to commercial bankss要求建立关联交易的
81、识别、审批及报告制度Required to establish the system to identify, approve and report associated tractions.第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 款甭贫斟盎丛格栽橱住嚼嚎碾钳拨趴劈追佳乒淮药翰稗他箩幻力沏殃呻墅短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm银行银行 Bank金融租赁公司金融租赁公司Fi
82、nancial leasing company注册资本注册资本Register capital股东股东Shareholder建设银行China Construction Bank of China建信金融租赁公司Jianxin Financial Leasing Company45亿元RMB 4.5 Billion建设银行占75.1% CCB: 75.1% 美国银行占24.9% Bank of America: 24.9% 工商银行Industrial and Commercial Bank of China工银金融租赁公司Gongyin Financial Leasing Company20
83、亿元RMB 2 billion工商银行独资设立Wholly owned by ICBC交通银行Bank of Communications交银金融租赁公司Jiaoyin Financial Leasing Company20亿元RMB 2 billion交通银行独资设立Wholly owned by Bank of Communications民生银行China Minsheng Banking Corp. Ltd民生金融租赁公司Minsheng Financial Leasing Company32亿元RMB 3.2 billion民生银行占81.25% CMBC: 81.25% 天津保税区
84、投资公司占18.75%Tianjin FTZ (free trade zone) Investment Co., Ltd.: 18.75%招商银行China Merchants Bank招商金融租赁公司Merchants Financial Leasing Company20亿元RMB 2 billion招商银行独资设立Wholly owned by CMB五家商业银行成立金融租赁公司,多家银行筹备5 commercial banks set up financial leasing company. Several banks are in preparation.第五部分第五部分 商业银行
85、设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 侮胺肄棺藉汰冒崩嚣芦丘悲霹速穗尚企轿堕膝条秸始魄氏邹皆况务锁州釉短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm银行银行Bank金融租赁公司金融租赁公司Financial Leasing Company注册资本注册资本Register Capital股东股东Shareholder国家开发银行China Development Bank国银金融租赁公司 Guoyin Fina
86、ncial Leasing Company74.85亿元 RMB 7.485 billion国开行占95%,海航集团、西安飞机工业(集团)公司等 占5%China Development Bank: 95%HNA Group, Xian Aircraft Industry (Group) Co., Ltd: 5% 中国银行Bank of Chia 新加坡飞机租赁有限责任公司 Singapore Aircraft Leasing Enterprise3.08亿元RMB 0.308 billion中国银行独资设立WhollyownedbyBOC二家银行通过股权收购进入金融租赁行业Two banks
87、 enter financial leasing industry by equity buyout.第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 娇殊爪排孙翌蓝译八周济揪部慨野幌备阮变换员膀痒皖叹烂泳做致舌似囊短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm财务顾问Financial consultant提供达到以下目的的融资方案Provided financing proposal to
88、meet below purposes针对个性化融资需求focus on customized financing needs降低融资成本reduce the cost of financing控制融资风险control the financing risk改善财务结构Improve the financial structure第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 坡席去渭夺铜拘颅钦琳析儒狠亦弛刃饰嘉地愤奴赋邱鞘友超蛀无庭育订刚短期融资及设备融资风险管理RiskManagementof
89、Shortterm短期融资及设备融资风险管理RiskManagementofShortterm 融资租赁信托产品的发行Issue financial leasing trust fund商业银行与信托公司合作密切close cooperation between commercial banks and trust companies以信托资金为融资租赁提供资金可行Flexibility of providing financial leasing by trust fund第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of com
90、mercial bank 扯麦庚座娟稗躺登鄙险奈赔剔惟痰锰愚绰夸辊弄尾宅战酝甄嫁必岁对辊划短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm租赁公司供应商承租人代理融资租赁信托产品的发行 Agent to issue financial leasing trust fund信托公司支付租金Pay the rent商业银行投资人理财产品销售款投资人发行理财产品出售租赁收益权Sell the income right of leasing获得资金消除负债Get capital, clear up
91、liabilities出售租赁收益权Sell the income right of leasing为理财产品担保Provide guarantee设备回购承诺 Redemption Commitment of the equipment第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 信托资金Trust fundCommercial bankTrust companyLeasing companyLesseeSupplierInvestorIssue financing productsSales
92、 of the financing products徽违茧笨敷比吐呜趟范绘陡纫寿裴受汹优觉转沦迫融依弊殃苔以佬陵等闲短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm风险种类Categories of risks行业风险行业风险行业风险行业风险Industry riskIndustry risk1履约风险履约风险履约风险履约风险Contract Contract compliance compliance riskrisk2财务风险财务风险财务风险财务风险Financial riskFinan
93、cial risk3汇率风险汇率风险汇率风险汇率风险Exchange rate Exchange rate riskrisk4业务风险业务风险业务风险业务风险Operation riskOperation risk6担保风险担保风险担保风险担保风险Guarantee riskGuarantee risk7市场风险市场风险市场风险市场风险Market riskMarket risk5第六部分第六部分 设备融资风险控制设备融资风险控制Part VI Risk control of equipment finance肺遁狄氨萨骗度赞孰峰针惭避银色谎思榔碴昭追梭火躺烽淄扭鼻儡认狮畔短期融资及设备融资风
94、险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm风险控制 Risk Control依托原有的客户，做熟悉行业及设备；Depends on original customers; engage in familiar industries and equipments.大宗及通用设备Big and general equipments针对业务的重要节点设定条件Set conditions aimed at important sections during the operation对现金流量的控制Control
95、 cash flows还款能力评估及制定适合的还款计划Evaluation of repayment ability and work out proper repayment schedule取得设备供应商的回购承诺Obtain the redemption commitments from equipment suppliers第六部分第六部分 设备融资风险控制设备融资风险控制Part VI Risk control of equipment finance钙痊旅鬼篓梧峰绳士躯音甄土醉麓郑啸傅板舆荆桔徊距沂挫秧删埋楷久痉短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm谢谢各位Thank you丧榴把润亦外吵覆陨婉措综孩灼渡痒坛狗礼拎丢沈祭嫉郎聘结匡碴三挪躺短期融资及设备融资风险管理RiskManagementofShortterm短期融资及设备融资风险管理RiskManagementofShortterm
