Research On Problems Of Energy Finance Development In Xinjiang

Energy is the main impetus of contemporary economic development and extremely scarce resource. China is at the stage of rapid economic development, demanding a lot of energy. But the international energy supply is becoming tenser and tenser with the complex changes in the international environment. So we must seek internal energy support, and Xinjiang as a strategic energy base is becoming more and more important. During the process of energy development in Xinjiang, financing becomes the focus of attention. And the combination of finance and energy forms the core concept -- Energy Finance. Research on problems of Energy Finance development in Xinjiang is of great significance in theory and reality. The article combines the status with theory of economics, using qualitative and quantitative analysis methods, putting forward some new views about Energy Finance development of Xinjiang based on the summary of previous opinions.Xinjiang is rich of energy and owns many kinds such as oil, natural gas, coal, solar energy, wind energy, water energy etc. It's with a great development potentiality. Xinjiang total energy production increases ceaselessly with the improvement of the economy and production ability at a high-speed. Xinjiang energy development will not only bring considerable economic benefits as energy industry development, economic prosperity, energy supply, but also strengthen the national unity and social stability, increasing employment opportunities for the improvement of people's living standards, reducing pollution, alleviating issues of energy safety in China, bringing enormous social benefit.Energy Finance is the result of the interaction between the energy and financial systems. Finance promotes energy industry optimization through two aspects: macroscopic and microcosmic. Finance optimizes the allocation of energy resources, promoting the optimization and adjustment of energy industry by influencing the industry and companies. Finance not only creates good conditions for the energy industry adjustment, but also guides the fund through indirect and direct financing methods to accelerate energy industry technology upgrade. At the same time, as the microcosmic subject of energy industry, energy companies complete their management system reform through the capital market, improving the optimization of energy industry by mergers and acquisitions. The international experience of Energy Finance is mostly about project financing.The paper attempts to apply Energy Finance theory to Xinjiang, analyzing the problems based on the fact. Energy Finance in Xinjiang emphasizes on indirect financing apparently, and reflects a strong policy character. At the same time, establishment of the large state-owned energy enterprises in Xinjiang is speeding up, and the national policy is also favorable. But Xinjiang Energy Finance development also faces many problems. Due to the level of economic development and other factors, Xinjiang Energy Finance market system is not perfect. And the credit mismatches problem caused by the distribution of benefits leads to pollution and waste by energy enterprises. It is lack of support for the renewable energy and energy-saving industry, and energy credit is highly concentrated. There is no perfect industrial prosperity monitoring system. In addition, insufficient attention is paid to the negative external effect of energy industry.Facing the problems of Xinjiang Energy Finance development, the paper puts forward some appropriate suggestions. It concerns about the long cycle of the energy industry investment, large amount of capital investment, the state strategy property of energy, the high internationalization of energy pricing and other factors. It is suggested that:constructing the financial market system adapted to the energy industry development; innovating and developing the products and services of Energy Finance; trying to set up development financing institution with dual attribute of commercial and policy; introducing development fund of energy industry and risk investment mechanism; vigorously developing Energy Efficiency Market. It is also suggested that we should improve the policy support system to promote Energy Finance development. At the same time, we must establish energy risk prevention system to control the risks of Energy Finance by such wayc a3 improving the credit management, increasing insurance coverage on the emer(?) industry, and constructing and perfecting prosperity monitoring system of Energy Finance.