中國大陸開放臺商就地融資之研究

機構典藏 > College of International Affairs > Graduate Institute of China Studies > Thesis > Item 987654321/30251

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Title:	中國大陸開放臺商就地融資之研究
Other Titles:	A study of the capital loan to Taiwanese enterprises in China
Authors:	李明學;Li, Ming-hsueh
Contributors:	淡江大學中國大陸研究所碩士班郭建中;Guo, Jiann-jong
Keywords:	中國大陸;台商;融資;Taiwanese enterprises in China;Chinese banks
Date:	2007
Issue Date:	2010-01-10 23:30:11 (UTC+8)
Abstract:	台商在大陸投資目前的主要融資管道有三，分別是台資銀行的挹注、中資銀行的融資，以及企業主赴大陸資本市場掛牌上市，然而，中資銀行的融資作業有其一定的規範，中小型企業的台商常因債信問題而無法獲得資金的融通，而赴大陸資本掛牌上市也因海峽兩岸的政經因素，以及公司體制的不同而難於推行，因此，大部分的台商都是採用由台灣母公司挹注，或由大陸分公司調度，或透過第三地設立子公司進行財務調度等模式，來達到資金到位或融通的目的。然而，此種間接資金融通的方式不僅成本較高，手續較繁，且常無法達到有效調度資金的目的，對於台商的事業發展相對不利，特別是台商對大陸的投資已超過千億美元，部分台商對於營運資金的需求急為殷切，然而，台商依然無法獲得國內金融機構的融資，因為陸委會對於本國銀行赴對岸設置據點的需求仍有質疑，兩岸金融監理機制也因兩岸無法恢復協商而胎死腹中，台商不論是為了圖生存，或是為了企業能在大陸永續經營，在台資銀行融資有限，而在大陸掛牌上市又不易的情況下，只有求助於大陸金融機構的融貸資金了。針對上述台資中小企業在大陸實際上存在的貸款困難問題，大陸各級政府及金融界即紛紛採取各種實際措施，破解臺商“貸款難”的問題。諸如大陸國臺辦主任陳雲林與國家開發銀行行長陳根元於2005年9月7日簽署「關於支援臺灣同胞投資企業發展開發性金融合作協議」，同意提撥首期5年300億人民幣開發性貸款額度。旋即於同年9月21日公布《臺資企業國家開發銀行貸款暫行辦法》，前述大陸有關當局逐步落實開放台商在大陸融資是不爭的事實，它會對台商及台灣的金融機構產生什麼樣的影響，是本論文研究的重點。 Currently the Taiwanese enterprises in China have three financing sources- Taiwanese banks, Chinese banks, and the capital markets of China. However, small and medium Taiwanese enterprises usually cannot get financed by banks owing to credit issues. They also find it difficult to be listed in China because of the cross-strait political and legislative problems, not to mention the structural differences among businesses. Most of Taiwanese enterprises in China, therefore, get capitals or funds injection via their parent companies in Taiwan, their associates companies in China, or their subsidiaries setup in third places. Such kind of indirect financing approaches not only result in higher funding costs and troublesome procedures, but often cannot meet financial needs effectively. This is a great disadvantage for business development especially when the investments of Taiwanese enterprises in China are over USD 100 billion and the financing needs are mounting rapidly. On the other hand, the Taiwanese enterprises are not able to get banking support back in Taiwan because the Mainland Affairs Council is reluctant to approve local banks to setup branches across the Strait and the authorities of both sides still cannot restore the negotiation of banking supervising mechanism. The Taiwanese enterprises in China have no choices but to seek financing supports from Chinese banks for the sake of survival or on-lasting growth. In view of existing funding difficulties the Taiwanese enterprises in China face, Chinese governments at all levels and the financial institutions take some actions to solve the problem one after another. For example, Chen Yunlin, director of the State Council Taiwan Affairs Office, and Chen Yuan, president of the China Development Bank（CDB）signed an agreement on September 7, 2005, to offer huge bank loans to the Taiwanese enterprises in China. Under the agreement, the mainland promises to provide Taiwan enterprises with credit loans totaling 30 billion yuan（about US$3.9 billion）in the coming five years. Later on September 21 of the same year, CDB released details on loans to Taiwanese enterprises based on the agreement. China Development Bank（CDB）had disbursed loans of RMB 6.55 billion to 79 Taiwan enterprises by the end of 2006.（加底線者為CDB年初公佈對台商放款數字）. It is evident that the Chinese authorities have fulfilled their promises to finance Taiwanese enterprises step by step. What will the action affects Taiwanese enterprises and financial institutions is the key point this thesis aims to explore.
Appears in Collections:	[Graduate Institute of China Studies] Thesis

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