Research On The Role Of Financial Leasing To Accelerate The Development Of Rail Transportation Industry

Modern financial leasing was born in the United States in the 1950s.Now it has developed into a comprehensive financial solution integrating investment,financing,asset management and other major functions.It is the development of China’s financial industry and business model innovation in recent decades.Highlights.China’s financial leasing industry began in the 1980s.At the beginning of its development,it was introduced into China from abroad as a means to relieve the technological transformation of China’s enterprises and the lack of funds.Despite the relatively late start,it has developed rapidly and has always shown tenacious vitality.Relevant data show that as of the end of 2016,China’s financial leasing transaction volume has reached the second place in the world,and the market penetration rate is still far below the level of developed markets in the world.The potential development space in the future is very large.The business scope of financial leasing is also increasingly wide,from industrial machinery and equipment,aircraft,ships to medical education equipment,urban infrastructure,new energy equipment and many other aspects,and has penetrated into all aspects of China’s real economy,resulting in considerable economic and social benefit.Since the first steam locomotive was built by Stephenson in 1814,the rail transit industry has gone through more than two hundred years of development.In our country,the saying"The train is ringing,the gold is two thousand"is very popular.The rumbling train not only profoundly changes the way people travel,but also plays an important role in promoting the development of the national economy.According to the"Medium and Long-term Railway Network Plan",China will build a high-speed railway network of"eight vertical and eight horizontal" and further improve the existing railway system.The national rail transit industry will usher in new and greater development opportunities.At the same time,with the further acceleration of the urbanization process,urban rail transit such as subways,light rails and trams will expand from first-tier cities to second-and third-tier cities,and the urban rail transit industry will show an accelerated development trend.Large-scale rail transit construction investment,vehicle equipment purchase and operation management will inevitably require a large amount of funds.It is obvious that the financing channels based on current railway construction funds,bank loans,and local government debt financing platforms cannot fully meet the demand.Rail transit,whether it is national railway or urban rail transit,or freight rail transit,basically has the characteristics of public goods and quasi-public products.Compared with the highly market-based financing methods of aircraft,ships and automobile transportation,rail transit has great differences.In the development path,rail transit industry financing has evolved from a public finance financing model to a hybrid financing model involving public finance financing and social financing.Moreover,with the gradual improvement of the marketization level of the rail transit industry and the continuous tightening of local fiscal debt,the use of financing leasing,BOT and various modes of hybrid financing will also become the main choice for the rail transit industry.As a mode of operation combining financing and melting,financial leasing industry vehicle equipment and professional equipment,such as high-speed rail EMUs,locomotives,trucks,and subways,are the most suitable leasing materials for financial leasing business.Give full play to the full advantages of financial leasing,thus alleviating the pains of financing difficulties in the current rail transit industry.However,as far as the current development is concerned,the rail transit finance leasing business is relatively lagging behind due to various reasons,and it has occupied a small proportion in the construction of large-scale national railway construction and urban rail transit in recent years,and developed countries.The proportion of leases over 60%of railway equipment has been large.The reasons for this are as follows:First,the understanding of all parties in the industry needs to be improved.Second,it is expected that more rail-trending companies will be specialized in financial leasing companies,which can further integrate resources of products,maintenance services,financing,etc.Flexible and targeted financing solutions will drive the growth of financial leasing scale and long-term development of the industry in the rail transit segment,and enhance the value of the entire industry chain,thus promoting the development of the rail transit industry.