出口信用保险融资业务的风险及优化研究

【作者】 刘敏；

【导师】 张二震；

【作者基本信息】 南京大学 ， 工商管理（MBA）（专业学位）， 2016， 硕士

【摘要】 出口信用保险是各国政府普遍采用的政策性金融工具,它是以国家财政为后盾,以提供收汇保障、风险管理和融资支持为方式,支持本国企业开展出口贸易、海外投资和对外承保工程等经济活动的一项特殊的政策性措施。出口信用保险因国际贸易风险应运而生,并且是WTO所允许的支持本国贸易的政策,因此成为各国政府支持出口的重要金融工具。出口信用保险的作用已不限于对出口企业的海外应收账款的损失补偿,由于出口信用保险对应收账款的收回保障,可以变应收账款为安全性和流动性都比较高的资产,成为出口企业融资时对银行的一项有价值的“抵押品”,银行以此为基础,可以较低的门槛,较少的费用对出口企业进行贸易融资。在业务实践中,以出口信用保险为基础的贸易融资业务由于极大降低了企业融资业务成本,缓解资金压力,对出口企业尤其是中小出口企业的发展带来切实的好处。同时该项业务由于保障贸易融资的第一道还款来源——买方还款,因此也极大降低了融资银行的风险,受到融资银行的欢迎。出口信用保险贸易融资业务发展迅猛,规模日益庞大。但该产品在迅速发展的同时,由于错综复杂的贸易模式,虚假贸易的频繁出现,以及保险责任无法覆盖等因素导致该项业务在实践中出现了不少问题。针对以上情况,出口信用保险银行融资业务的产品设计及运作流程需要重新优化,以更好地满足出口企业的融资需求,保障银行的贷款安全。本文在分析出口信用保险融资业务模式的基础上,逐一分析可能影响此业务模式无法构建成功的三类风险：来自出口商的风险、来自出口信用保险公司的风险,来自融资银行的风险。并且将所有风险中影响最为恶劣的虚假贸易融资风险单独论述并分析其特点、成因及防范思维。针对上述所有风险的归纳和总结,本文提出出口信用保险贸易融资业务需要进行广度和深度两方面的延伸进行优化。出口信用保险融资的深度延伸是指通过该产品的深度挖掘,根据不同情况细化其模型,从而克服该产品简单化的特点和一刀切式的业务模式,而广度延伸是指保存现有产品模型的同时,增加产品种类,丰富产品线,结束单一融资产品服务出口企业融资的局面。通过以上两个层次的优化,严格现有融资模式的风险管控体系,增加出口信用保险融资类型,进一步促进贸易融资的发展,给出口企业和融资银行更多的选择和帮助。更多还原

【Abstract】 Export credit insurance is widely adopted as a policy finance instrument by national governments, it is backed up by national finance, providing security of exchange collection, risk management and financing convenience, with the purpose of supporting the business activities of domestic corporations for export trade, overseas investment and external contract project. Export credit insurance is produced along with the foreign trade risks, benefiting from the approval of WTO, and has become an important finance instrument to encourage export by national governments.The function of export credit insurance is not limited to the loss compensation for overseas receivables of export corporation, due to this guarantee function, receivables can be transformed to assets with high security and liquidity, which would be a valuable mortgage when the bank provides trade financing with a lower threshold and fee. In practice, the trade financing based on the export credit insurance greatly reduces the corporation cost of financing operations, relieves financial pressure, benefits the promotion for export enterprises especially those medium and small ones. Meanwhile the insurance guarantees that first repaying source of financing is from the foreign buyer, therefore reducing the risk and becoming a welcome to banks. Nowadays, trade financing based on the export credit insurance is developing rapidly and expanding widely. Whilst the swift development, false trade appears frequently due to intricate trade patterns, and the insurance liability could not cover all the business so as to many problems in practice. Aiming at the aforesaid situations, it is a necessity to re-optimize the product design and operating process, so that it could better satisfy the financing demand of export corporations and guarantee bank loan security.Based on the analysis of the business model of export credit insurance financing, this paper states three kinds of risks, which may lead the aforesaid model to a failure: from exporters, from export credit insurance corporations and from financing banks. Specially, this paper emphasizes the risk related to false trade, its features, factors and prevention measures. With conclusion and summary on all the risks, this paper suggests to optimize the financing activities of export credit insurance in both range and depth aspects. Depth expanding means to delve the financing products deeper by detailing its patterns. Range expanding means to increase the types, enrich the product line under the existing product model. With the above optimization, it is about to intensify the risk management of existing financing model, increase the types, so as to facilitate the trade financing development and better support the export corporations and banks.更多还原