Research On Development Financial Institutions Support Railway And Highway Construction In China Under The Background Of "The Belt And Road"

"The Belt and Road" is a important way of promoting China’s economic growth and optimizing the industrial structure and China’s going out.This strategy is of great significance to our country,but there are many challenges.Especially in the primary stage,the transportation infrastructure is the medium and long term investment projects,and the fund raising is the fundamental guarantee for the smooth development of the strategy.Policy based finance is based on national credit,because of its non profit,phenomenon of low efficiency of capital use and waste of resources appears.The business of Commercial Finance aims at maximizing profit.But,"Belt and Road" initial stage are mostly in long-term projects,financial institutions are not willing to participate in.The foundation of the development finance is the national credit,the pillar is the market performance,can realize the goal of government development,make up for the backward system and market failure.At the same time,it is to serve the national strategy as the goal,has an unique advantage of financial and social resources in support of the industrial cooperation of "The Belt and Road".This paper analyzes the theory of market failure and government failure,pecking order theory and financial development theory.Through the analysis of background of "The Belt and Road" strategy,analyses the advantage and present situation of financial institutions supporting the railway road by means of descriptive statistics.Then,the paper analyzes the effect of CDB loan on railway and highway industry by gray correlation degree method.Finally,it provides feasible suggestions and suggestions for CDB to support railway industry.The results show that the proportion of Railway Loans to railway fixed assets investment is larger,and it is more consistent with the growth rate of railway,says it give greater support to railway industry.The bank loans accounted for highway road construction investment ratio is smaller,and not similar to the trend of highway mileage,says it gives small support to highway industry.Through the gray correlation analysis,it can be seen that the role of CDB’s railway loan is less than that of CDB’s highway loan.After proposing this strategy,CDB’s support effect to the railway and highway overall declined.In order to promote the development of railway and highway industry,the following suggestions are put forward:(1)CDB should actively cooperate with government agencies,formulate specific planning,improve the state of previous policy financial capital use efficiency low,while adjusting the loan scale to meet the needs of railway and highway development;(2)In the process of supporting railway highway industry by bank loans,strengthen financial supervision,supervision and eliminate gaps,improve the use efficiency of funds;(3)In the process of supporting railway highway industry by bank loans.simplify the process and provide Easy Access;(4)The CDB should build a "The Belt and Road" key industries financing platform and credit platform,encourage commercial financial institutions and private capital to participate in the strategy;(5)CDB with the railway and highway companies should strengthen cooperation,promote the active participation of all parties,give full play to their own advantages.