全球国别开发性银行在基础设施融资中的作用及其对我国启示  

The Role of Global National Development Banks in Infrastructure Financing and Its Suggestion for China

作　　者：姜雪飞 朱静 Jiang Xuefei;Zhu Jing

机构地区：[1]北京弦歌科技有限公司 [2]国家开发银行规划研究部

出　　处：《开发性金融研究》2024年第5期53-63,共11页Development Finance Research

摘　　要：基础设施建设事关国家发展,基础设施融资也因此备受关注。近年来,开发性银行在其中的重要作用在国际上获得了更广泛认可。当前,全球经济、社会发展中存在大量基础设施需求,但在其建设资金来源中,财政资源捉襟见肘,私人资本踟蹰不前,商业银行约束从严,债券市场门槛偏高,而终端需求在边际上向社会基础设施、绿色基础设施、基础设施韧性和“软”基础设施迁移则加剧了上述资金供给压力,全球基础设施融资格局面临普遍重塑,开发性银行的地位因此提高。我国基础设施融资领域也面临相同挑战和调整趋势。借鉴国际经验,为更好适应我国基础设施建设融资需求,肩负公共使命的政策性开发性银行应承担更多责任。首先是为基础设施建设提供更大份额资金;同时还应发挥贯彻国家战略、培育市场机制,以及“挤入”社会资本等战略桥梁作用。为使政策性开发性银行更好履行相关使命,应支持其更加关注融资项目战略性和影响力,适当利用多种特色金融工具筹集资金,并保持融资决策独立性。Infrastructure provision has long been a global concern and has become an even more pressing issue in recent years.Meanwhile,infrastructure financing appears to be increasingly difficult than ever before.China,seeking to improve its infrastructure construction,faces the exact dilemma.Development banks could play a crucial role in mitigating this contradiction,and their importance in infrastructure financing has been more widely appreciated recently.Relevant studies and the current situation show that the global infrastructure financing pattern is generally facing adjustment,and China’s infrastructure terminal demand and investment demand are also changing.As a result of all these factors,China’s development banks are subjected to assuming greater responsibilities in infrastructure financing in the country.Development banks in China need to provide a larger share of long-term loans for infrastructure financing while acting with the power of strategic bridge as implementing national strategy,cultivating market mechanisms,and“crowding in”private capital.They should pay more attention to the strategic and influential property of financing projects,use a variety of special financial instruments to raise funds,and maintain independence when participating in infrastructure financing.By doing so,development banks can better support infrastructure construction and fulfill their missions.

关 键 词：基础设施融资 开发性金融机构 政策性开发性银行 战略桥梁作用 

分 类 号：F832.31[经济管理—金融学] F283