Research On Sustainable Development Responses For Credit Business Of The Export-import Bank Of China

Policy banks refer to non-profit oriented financial organizations launched and set up by the government,directly or indirectly engaging in policy financing activities in certain business areas so as to implement and follow particular economic policies and intentions of the government.Policy banks play indispensable roles in the financial systems of all the countries around the world.As an important component of the financial system,policy banks shoulder a special mission in promoting the coordinated and steady operation of the national economy.The founding of the policy banks in China started in the year 1994.The banks actively implement the industrial policies and macro-control policies of China,playing important roles in promoting the industrial adjustment,boosting the development of agriculture and agricultural economy,improving the international competitiveness of Chinese enterprises and exports and alleviating the bottleneck restrictions of economic development.However,with the development of China's socialist market economy and the deepening of reforms,the transformation of policy banks is imperative.Whether the credit business can be developed sustainably has been seriously questioned.Problems such as the vague understanding of the nature of policy banks,the deviation of their functional orientation and unbalanced development of policy business and self-operated business have seriously affected the transformation and sustainable development of the policy banks of China.This article took the Export-Import Bank of China as the research object,and the study followed the logic of raising questions,analyzing problems and solving problems.The relevant researches at home and abroad were summarized,including the definition of policy-based finance,the necessity of the existence of policy-based finance,studies of government participation in financial services,studies of the transformation of foreign policy-based finance and studies of the transformation of the policy banks in China.The article described the basic characteristics and the credit business of policy banks.The article took market failure theory,financial constraint theory,development economics theory and transition economics theory as main perspectives and combined theory with practice.Itused qualitative analysis,comparative analysis and case analysis as research methods and pointed out the concomitant problems in the development of the credit business of the Export-Import Bank of China.The problems included the common problems of policy-based business and self-operated business as well as the respective problems of policy-based business and self-operated business in their development.The conclusion that the sustainable development of the credit business of the Export-Import Bank of China would be hindered inevitably was reached through the description of a series of problems such as the unclear functional positioning,working capital constraints,and lack of tax incentives.Finally,by drawing on the experiences of the successful development of both domestic and foreign policy banks and analyzing the current business of the Export-Import Bank of China,the solutions to the problems were proposed.As a policy tool for achieving the national strategic goal of the country,policy banks should adhere to their policy-based functional positioning and provide financial services to the areas where commercial banks are not willing to get involved,so that policy banks could make up for the lack of effective financial supply,fully serve the overall situation of national policy and diplomacy,and then serve the real economy and national strategies.At this stage,it is not appropriate for the Export-Import Bank of China to carry out a complete commercialized mode of business transformation.It should have its self-operated credit business fully developed with the prerequisite of maintaining the rapid development of policy-based credit business and take the development of both policy-based and self-operated businesses into account.Therefore,the healthy and sustainable development of credit business of the bank could be achieved.