Innovative Research Of Financing Tool And Credit Channel Of Developmental Finance In China

As an intermediate form between policy finance and commercial finance,developmental finance will be will exist in the process of China’s economic developmentfor a long time. In both developed countries and developing countries, there are a lot ofdevelopmental business which finance is difficult to take into consideration, thecommercial financial generally don’t do or don’t want to do and the capital market can’tcover. if we want to well solve the cultivating and developing problem of this kind of thebusiness, we need to make a good use of the unique developmental financial function. Tillnow, the theory and practice promotion of developmental financial have developed formore than ten years, the developmental financial gains fast development, but our countryis still in the early stage, developmental finance tools are single. The main way ofobtaining funds is through the issuance of long-term financial bonds, and the use of fundsis mainly through the traditional credit ways. Therefore, the innovation of financing andcredit tools in financial development has an importantly practical significance.Based on the analysis of the present situation of financial development in our countryand the problems existing in the development process, explore the innovation of financingand credit tools about developmental finance. Firstly, analyze innovation theory andpresent situation of the developmental financial products, put forward the particularity offinancial product innovation. Secondly, through in-depth analysis on the financingchannels of developmental financial, construct innovative products which are more accordwith the demand of investors on base of the floating rate bonds and mortgagedebt.Meanwhile, conduct the pricing of innovative products. Finally, the new and hightechnology enterprises、 small and medium-sized enterprises are lack of credit tools, Inorder to improve the situation, respectively conduct innovation of credit tools.This paper aim to enrich developmental financial products through the innovation offinancing and credit tools and solve the existing problems of developmental finance, thenimprove the developmental financial competitiveness. At last, Promote developmentfinance to achieve sustainable development in the highly competitive market environment.