结构性贸易融资及其在我国的应用研究-国际贸易学专业论文.docxVIP

结构性贸易融资及其在我国的应用研究 结构性贸易融资及其在我国的应用研究 Research on Structured Trade Finance and Its Application in China ABSTRACT As an innovative form of trade finance, structured trade finance (STF) is generated accompanied by the bulkily and capitally trend of international trade. It chooses the entire trading flow as financing object, and designs a tailored financing option through combining a variety of financing instruments and taking several factors into comprehensive consideration, such as the company’s credit, commodity characteristics, the control to funds and logistics, financing risk and cost, as well as relevant laws and regulations. STF was initially introduced into China by foreign banks more than 10 years ago, but as for now, its application in China is still very limited. China’s foreign trade is experiencing structural escalation, the proportion of bulk commodities and capital goods trade are rising prominently. Meanwhile, the global financial crisis has a negative effect on the foreign trade. Given the above background, how to develop structured trade finance to promote the successive and sound development of Chinas foreign trade is particularly necessary. In this paper, firstly, the actual circumstances of Chinese and foreign banks’ applications about STF in China are briefly presented. Then through the creation of STF implementing framework, the main obstacles and problems in STF’s carrying-out in China are discussed from the view of main financing participants, like banks, enterprises, government departments involved in trade promotion and related financial markets, legal environment. To solve these problems, this paper attempts to establish a structured trade financing model. In the first place, variety of fundamental trade financing tools are elaborately discussed in the view of principles and practical operation, which are compared and classified from the financing stage, settlement, financing amount, commodity characteristics. Then a structural model of STF i