The Innovation Research For Financing China's Railway By Financal Lease Model

At present, china's railroad construction is just in the fast development. According to《mid-long-term railway network programming》, during the period of the 11^th five-year-plan development of china railway, a new railway with 19800 kilometers will add her railway, and the investment will match to 1250 billion. By the year of 2020, china will expect her railway to 100 thousand kilometers with the rate of electrization and duplicate line to 50%, the scale of investment will reach to more than 2000 billion. During the year from 2007 to 2010, the capital construction amount of investment will continue keep the fast growth; it can be estimate that the average amount of the investment will reach to 271. 2 billion or so. A financing channel with large scale and multi-participation will be needed for china to meet the big gap.Financing lease is the creature of innovation of credit with the history of 50 years. Commerce and finance often become part action of the financing lease. With the operation of financing lease, the capital of industry and bank will receive combination; better financing channels will be appeared. With the quick development of economy, the innovation model of financing lease comes out, which made the financing lease become flexible and widely used. It can be significative action if a model of financing lease that be fit for the character of china's railway can be found.The paper sets up financing lease model for china's railway by analyzing the characters mentioned above. This paper is divided into six parts: The first part is introduction; it discusses the background of the paper, significance of theme, the aim of the research and the scheme of the paper. The second part, the paper finds the development, character, and applicability of financing lease; it also discusses some basic theories and practice of the financing lease model. The third part of paper lay out the innovation model of financing lease, setting up financial lease model, defining it and its participants, discuss its operation flow, the role of the participants. The fourth part of the paper, discusses the combination of china's railway finance and financing lease, the base and rules that support the financing lease model, analyzing the feasibility of the financing lease-model from economics and the factors that affect it, using data test it. The fifth part of the paper, discusses the risk and control for the financing lease model and its participants. The sixth part of the paper is a summary.