With the high speed development of economic and the goal of establishingharmonious society, we need more and more investment on infrastructure construction.Project financing, as a new way to finance for infrastructure construction, hasaccelerated the many projects all over the world. It has succeeded in China and willget great achievement.However, the risk in Project Financing is very high. In most developed countries,it is high regarded to control the risk. On the contrary, it has not been recognizedenough in China. Therefore, the risk management of project financing has practicalsignificance.The paper is on the basis of analyzing the studying situation all over the world,conducted by the steps of risk identification, risk assessment and risk management.Firstly, this paper analyzes the basic steps of risk management and maincharacters of Project Financing. And it introduced related concepts on ProjectFinancing and its risk management systemically.Then in accordance with the basic steps of risk management for project finance,Project Finance risk can be divided into two categories: Systemic risk and non-Systemic risk. In the process of risk assessment, VaR(value at risk) theory was used toassess Qingdao Jiaozhou Bay Bridge project. In the step of risk treatment, what toregard in each stage of the project is analyzed first. Then, two aspects, credit riskmanagement and the use of financial instruments, are conducted as specific measures.Finally, according to Project Finance status quo in China, this paper proposedrecommendations, and give the full text of the summary. |