The Research On Construction Financing Of Infrastructure Under "Belt And Road" Background

The current international economic environment is not optimistic. After several crises such as Financial Crisis and the European Debt Crisis, the world economy has entered a slow recovery period. For China, the economy develops slowly in the economic cycle. In this situation, “Belt and Road” development strategy becomes the key to the development of the entire region. It has been 30 months since “Belt and Road” put forward. And “Belt and Road” has made great achievement in the past 30 months. However, with the further developing and infrastructure construction accelerating, the problem that the infrastructure construction financing needs is gradually exposed. Whether the problem that the needs of regional infrastructure financing can be solved excellently and efficiently determines the high-speed of the infrastructure construction, thus affecting the development of the whole“Belt and Road” area.This paper argues that the current channel of “Belt and Road” infrastructure construction financing is public sector investment and private sector investment, and it is major invested by government departments, private sector investment and foreign investment in particular. This paper argues that this three-part financing will expose part of the problem with the way the development of the area. Firstly, as “Belt and Road” develop in depth gradually, the infrastructure financing needs will increase, and the demand will lead to higher supply which cannot be match with the needs. Secondly, with the gradual development of capital markets, infrastructure financing from private capital investment may be part of a potential diversion. Thirdly, the region contains both the developed countries and developing countries, meanwhile, there are political and geographic problems in some regions and countries, making the regional imbalance of the distribution of infrastructure construction investment, and the phenomenon of mismatch is obvious.Fourthly, the infrastructure construction financing has the feature of long payback period and cross-currency transactions, also the proportion of risks and benefits cannot meet the requirements of private capital, leading to the fact that the private capital and the capital out of the “Belt and Road” seldom choose the region. Finally, lack of cooperation between countries and regions in this area, making the low financing efficiency. At last, the papper will gives some targeted suggestion such as improvement of Asian Infrastructure and reasonable bundle of the project, aiming to solve the infrastructure construction financing.