Research On Credit Risk Assessment Of Financial Leasing Project In Construction Industry

By the end of 2018,the added value of China’s construction industry has reached6180.8 billion yuan.In recent years,it has shown a growing trend.The steady growth of the construction industry has promoted the rapid development of China’s economy and led to the growth of fixed assets investment.The construction industry is also a labor-intensive industry with a long industrial chain and a large number of cooperative industries.As a country with a large population,the steady and continuous growth of the construction industry has absorbed a large amount of surplus labor force and made a significant contribution to maintaining social stability.Although the construction industry has made positive contributions in the areas of employment,pulling the economy and building the whole area,China’s construction market is still not perfect in the developed countries,the ratio of process payment is low,the settlement payment period is long,the amount of capital occupied is large,and the phenomenon of capital construction and arrears of construction payments is widespread,which causes our country construction enterprise funds generally nervous,asset-liability ratio is higher,mat endowment of the construction of the model further exacerbated the construction enterprise’s fund pressure.Financial leasing is a form of financing with leasehold as the carrier.It is flexible in operation and expands the means of capital management of construction enterprises.However,financial leasing projects in the construction industry have many risk factors due to the large capital input,long repayment period and unpredictable factors during the lease period.Among many risks,the credit risk of the lessee is particularly common.After the lessee’s repayment ability and willingness change,it will be more difficult for the financial leasing company to receive the rent in full amount on schedule,there will be the possibility of default loss.Once the credit risk event is triggered,it will bring serious loss to the leasing company.The existence of high credit risk in the industry restricts the development of projectfinance lease in China’s construction industry.Therefore,how to effectively evaluate the credit risk faced by construction enterprise financial leasing projects from the perspective of the lessor and control the adverse selection problem caused by information asymmetry becomes the key to the leasing company’s continued support for the construction industry,which has important practical significance for promoting the development of financial leasing of construction enterprises in China.This paper systematically considers and analyzes the development status,development trend and synergistic characteristics of the construction industry and financial leasing industry.This paper sorts out the theories of the characteristics,causes and evaluation methods of the credit risks of finance lease in construction enterprises and summarizes the common due diligence methods and processes in the industry.Visiting leading domestic financial leasing companies and interviewing many experts on the spot,this paper summarizes the credit risk evaluation model of AHP-FCE,it takes a highway engineering company’s financial leasing project as an example to test the model.It is hoped that this paper can provide some references for leasing companies and industry supervision departments to carry out effective credit risk management and control.