Research On The Ability Of The Policy-based Finance Supporting Chinese Enterprises’ “Going Out”

Since reform and opening-up policy was performed, more and more enterprises have been abroad with the promotion of “going out ”strategy. However, enterprises often face the problems of capital, information and insurance during the process. As a special form of finance to promote out foreign direct investment, policy-based finance reflects the intention of the government’s economy policy, providing OFDI loans, insurance, information, credit guarantees and so on, in order to help enterprises development on the international market. On the background of the strategy of “One Belt And One Road ”, it’s pretty necessary to promote the s ability of policy-based finance supporting enterprises’ ”going out”.The ability of the policy-based finance supporting enterprises’ ”going out” is chosen as the object of the study. By analyzing the current situation and proving the contribution of policy-based finance with the method of measurement, we draw the conclusion that overseas investment loans and insurance have made great contributions on enterprises’ “going out”, but the contributions are limited. Then with methods of theory and measurement, the factors that influences the ability of support such as economy, laws and regime, management, credit risks are analyzed in detail, from which we draw the conclusion that the actual GDP growth rate, capital adequency ration and the asset of the bank have positive correlation with loan growth of OFDI., and the volatility of REER and non-performing loan ratio have negative correlation with loan growth of OFDI. By comparing with America, Korea and Japan, a series of measures about how to promote the ability are worth learning.On the base of influencing factors and some theory, a lot of suggestions are put forward about the system, management, risk control and business development of policy-based financial institutions, hoping that they can be the reference of relevant reforms about policy-based finance, and promote the national strategy of “going out” and “One Belt And One Road ”.