The Research On Risk Management Of Foreign Loan Of Hunan Highway Corporation

Since the reform and opening, construction of Hunan Province highways uses a lot of foreign exchange loan, especially Japanese yen loans and American dollars. These loans face huge foreign exchange loan risk of interest rate risk under the current foreign exchange system. This research from Hunan Province highway construction and using foreign exchange loan reality, Hunan Province highway construction on foreign exchange loan risk management, the necessity and feasibility of foreign exchange loan risk management and problems in work. Hunan Province highway construction on foreign exchange loan risk management is the highway construction itself, but also the objective requirement of national debt overall safety and the objective requirement of the international capital market. Although in highway construction foreign exchange loan risk management work still exist in the foreign exchange loan risk management mechanism, such as imperfect difficulties, but the current foreign exchange loan risk management work is completely feasible. Since 2002, releasing several national policies and regulations, encourage and support for foreign exchange loan risk management unit, and require Banks and other financial institutions involved in the foreign exchange loan to help enterprise risk management work, the foreign exchange loan for highway risk management provides powerful policy support and technical support.This paper focuses on foreign exchange loan risk and risk of highway construction project. This paper, based on the use of financial market transaction evades foreign exchange loan interest rate risk expressway and the exchange rate risk and comparative analysis of several schemes. In the interest rate risk aversion, analyzed the common interest in DiaoQi, structural type, accumulated interest rates DiaoQi methods, and points out that DiaoQi preferred to accumulate DiaoQi rates to circumvent the rate of risk. In exchange rate risk aversion, were investigated with money and bitter should avoid the risk of exchange rate, analyzed the spot/forward transactions, foreign currency market lending etc, foreign exchange method in highway foreign exchange loan risk management, and pointed out the application can be preferred by sight/forward transactions to evade foreign exchange risk.In order to promote our foreign exchange loan risk management of highways, we still should adopt a series of measures, including further improve the foreign exchange loan risk early warning mechanism and risk management decision-making mechanism, further close cooperative relationship with the commercial Banks, foreign exchange risk management talent, further improve the training and introduction of foreign exchange loan risk management incentive mechanism and the responsibility system, etc.