摘 要

基于规模经济、多元化经营以及优势互补等多方面的作用，产融结合一直是产业高速发展的重要手段。但受制于银行等金融机构准入资格的限制，民营企业以及非超大规模企业一直被排除在外，难以由“产”入“融”，产融结合很难发展。从2010年起，在互联网技术的背景下，供应链金融借助了小额贷款公司、融资担保公司和P2P平台等这些非银行新型制的金融机构飞速发展了起来。产业链上的核心企业还有民营企业得以借助信用方式而使上下游的企业得到整合，从而在一定程度上实现了产融结合，进而推动行业的发展。本文先对供应链金融特点与发展以及产融结合的动因等情况做一个阐述，并在此基础之上，给出了供应链金融背景下产融结合的现状分析，提出了以供应链金融为背景的产融结合发展策略。并对基于供应链金融基础的产融结合未来发展做了展望，对这方面的研究发展有一定的借鉴意义。

文章结构安排如下：第一部分是研究背景和研究意义意义，外加对国内外有关的文献综述的梳理；第二部分从名词解释及有关理论方面进行了论述；第三部分主要从产生以及发展动因等方面来阐述供应链金融的发展；第四部分分析了产融结合的发展动因及其在我国的发展情况；第五部分从基础、现状和存在的问题这三个方面来写以供应链金融为基础的产融结合；第六部分从核心企业和产业与金融机构的角度出发，对供应链金融背景下的产融结合发展策略提出建议。最后得出结论。

关键词：供应链金融；产融结合；产业整合

Development of the Combination on the basis of the production supply chain finance

ABSTRACT

Many economies of scale, diversification and complementary advantages and so on, the Combination has been an important means of rapid development of industry. However, restrictions imposed on the banks and other financial institutions' access to qualified private enterprises and non-ultra-large-scale enterprises have been excluded, it is difficult by the "production" into the "melting" the Combination difficult to develop. From 2010 onwards, in the context of Internet technology, supply chain finance With a small loan companies, financing guarantee company and P2P platforms, these new non-bank financial institutions made rapid development again. Core business as well as private enterprises in the industrial chain by means of credit to the way leaving the upstream and downstream business has been integrated, which to some extent realized the Combination, thus promoting the development of the industry. This article first characteristic of supply chain finance and development and motivation of the Combination and so forth to make a, and on this basis, given the current situation in supply chain finance background the Combination analysis, the supply chain finance as background of the combination capacity development strategy. Financial and production based on supply chain financial fundamentals combined with the future development are put forward, research and development in this area has a certain significance.

The article is organized as follows: The first part is the research background and significance of meaning, plus domestic and international literature review about the sort; the second part of noun and were discussed about the theory; the third part from the generation and development of motivation, etc. to illustrate aspects of the supply chain, financial development; fourth part analyzes the development motivation and development of the combination in our country; the fifth part based on the current situation and problems in these three areas to write for the financial supply chain based on the combination; the sixth part from the perspective of the core business and industry and financial institutions starting to make recommendations on the production under the supply chain finance financial background combined with the development strategy. He concluded.

Keywords: Supply Chain Finance; The Combination;Industry Consolidation

目 录

1 绪论 1

1.1研究背景和意义 1

1.1.1研究背景 1

1.1.2研究意义 1

1.2文献综述 1

1.2.1国外文献综述 1

1.2.2国内文献综述 3

1.2.3国内外文献述评 4

1.3研究框架与方法 4

2 术语界定与相关理论基础 6

2.1术语界定 6

2.1.1供应链与供应链金融 6

2.1.2产业链与产业链金融 6

2.1.2产融结合的概念 6

2.1.4互联网与互联网金融 7

2.2相关理论基础 7

2.2.1产融结合相关理论 7

2.2.2互联网金融理论 9

3 供应链金融发展状况 11

3.1供应链金融产生与发展 11

3.1.1供应链金融的产生 11

3.1.2供应链金融的发展历程 11

3.2供应链金融发展动因分析 12

3.2.1供应链金融的特点 12

3.2.2核心企业扩张需要借助供应链金融 12

3.2.3中小企业融资需要借助供应链金融 12

3.2.4商业银行错位经营需要供应链金融 13

4 产融结合的动因及发展状况分析 14

4.1产融结合动因 14

4.1.1降低市场交易成本，提高收益 14

4.1.2央企日益融入市场化和国际化竞争，金融需求提升 14

4.1.3减少市场的不确定性，降低经营风险 14

4.1.4强化集团对金融资本的控制，增强凝聚力 15

4.2中国产融结合发展状况分析 15

4.2.1起步阶段 15

4.2.2沉寂阶段 15

4.2.3复苏阶段 15

4.2.4鼓励发展时期 16

5 供应链金融背景下产融结合状况分析 17

5.1供应链金融背景下的产融结合基础 17

5.1.1供应链金融规避传统产融结合的障碍 17

5.1.2供应链金融背景下产融结合动力不变 17

5.1.3供应链金融的完整生态圈能强化产融结合 18

5.2供应链金融背景下产融结合现状 19

5.2.1供应链金融背景下产融结合再度兴起 19

5.2.2市场空间大，前景广阔 19

5.3供应链金融背景下产融结合存在的问题 20

5.3.1发展历史较短，实践不足 20

5.3.2核心企业承受较大压力 20

5.3.3产业风险规避成为重中之重 21

6 供应链金融背景下产融结合发展策略 22

6.1核心企业 22

6.1.1确立主导产业 22

6.1.2专业人才的培养 22

6.2产业与金融机构层面 22

6.2.1核心企业角度 22

6.2.2监管层层面 22

结 论 24

致 谢 25

参考文献 26

1 绪论

1.1研究背景和意义

1.1.1研究背景

经济全球化越来越快,机遇与挑战并存,我国要想保持经济发展一直向上,必须有培养一些具有竞争力的世界闻名企业。改革开放以来，我国企业改革加速发展企业规模不断扩大，核心竞争能力逐步形成，开始向资本密集型行业集中，这种在经营方式上的巨大改变迫使企业要赶紧寻求发展出路，而与金融机构之间互相融合是解决这一难题的出口，产融结合就成为了大势所趋。

但是进入金融市场具有很高的门槛限制，而中小企业在这方面处于弱势，进而难以推进产融结合。而供应链金融解决了中小企业融资难的问题，规避了金融牌照不易获得的问题，从侧面促进了产业整合，进而推动产融结合的发展。