欣田医疗健康产业园建设项目融资策略研究 建国七十年来特别是 1978 年的改革开放以来中国社会政治经济文化各领域 进步显著成就巨大，同样我国人民的医疗健康水平亦提高到了历史上的新的高 度，人均寿命的增高对医疗养老的要求进一步增强，医疗与养老作为人民生活 的基本保障已成为国家乃至各级政府迫切需要解决的问题。本文主要针对欣田 医疗健康产业园建设项目的融资策略进行探讨，通过实地调研考察，并对查到 的有关档案资料进行分析研究，对可供参考的经典案例进行深入分析和研究， 对该项目整体状况进行融资调研。欣田医疗健康产业园建设项目位于辽宁省盘 锦市，项目包含二级中医院建设、康复医疗养老、养老公寓建设，规模较大， 当地政府政策上和财政上的支持有限。项目建设方属于中小企业，经济实力一 般，在资金需求上有诸多困难。结合当前资本市场的状况，尤其是东北地区可 供选择的投资渠道的分析，在政策性金融不足、银行资金门槛高、投资机构融 资条件苛刻的情况下，针对欣田医疗健康产业园建设项目的具体实际情况进行 融资策略研究，提出合理的切实可行的融资解决方案。通过充分利用政府的土 地政策，弥补资金需求，并通过资产抵押、股权融资、人力资源技术入股、医 疗养老设备融资租赁等，采取多种组合的综合融资策略，完成了欣田医疗健康 产业园建设项目融资策略研究。 在该项目启动阶段，充分利用当地政府的土地政策，减少土地融资成本， 医院建设部分用 IOT(投资-运营-移交)企业对医院进行固定投资。该部分土地由 政府划拨，养老项目所需土地和政府协商，在商业用地价格基础上予以扶持优 惠。II 项目运行过程中，采用资产抵押，随着产业园项目的启动和逐步建设，当 地上建筑资产达到符合银行抵押政策时进行抵押融资，可采用分批分阶段的方 式。如此可较好的利用银行等金融机构的资金。 股权融资涉及公司内部管理层价值观和股权结构、政府政策变化等不确定 因素影响、投资方行动谨慎迟缓，经研讨，出让股权争取投资人。同时，采用 技术入股的模式进行融资。对医疗行业管理层和骨干医学技术人才采用技术入 股的方式降低人力资源运营成本，从而解决股权融资问题。 因由医疗养老设备投资巨大，采用融资租赁的模式，从医疗设备生产企业、 医疗设备代理商、以及第三方融资租赁等机构合作，解决资金困难。 该项目的顺利建设及成功运营将推动盘锦地区医疗、养老服务业发展，惠 及全区、全市及周边区域人口的医疗健康。欣田医疗养老中心项目的建设将提 供一个医疗养老为主、康复医疗为辅，医养结合的高端养老机构。该研究成果 将对医疗养老产业目前所面临的收益低、投入资金大、可供选择融资渠道狭窄 以及实质政府支持力度不够等诸多问题给出一个较为清晰可行的融资策略解决 方案。 欣田健康产业园建设项目符合国家的有关政策和地方的实际情况，该项目 对于盘锦地区老年服务业群体的建立推动巨大，更有利于盘锦市乃至辽宁中西 部地区医疗健康养老经济的快速发展，也是目前国家重点支持的项目。因此， 项目建设是必要的，也是可行的。 关键词： 医养结合，欣田健康产业园，融资策略I Abstract Study on Financing Strategy of Construction Project of Xintian Medical and Health Industrial Park In the past 70 years since the founding of the people's Republic of China, especially since the reform and opening up in 1978, remarkable achievements have been made in various fields of social, political, economic and cultural progress. At the same time, the medical and health level of the Chinese people has also been raised to a new level in history. The increasing life expectancy further enhances the demand for medical care and pension.China's reform and opening up has gradually entered the Deepwater areas. As the basic guarantee of people's livelihood, medical care and old-age care have become an urgent problem to be solved by the state and even governments at all levels.This paper mainly discusses the financing strategy of the construction project of Xintian Medical and Health Industrial Park. Through on-the-spot investigation and investigation, and the analysis and research of the relevant archives, we can make in-depth analysis and Research on the classic cases for reference.The project of Xintian Medical and Health Industrial Park is located in Panjin City, Liaoning Province. The project includes the construction of secondary Chinese medicine hospitals, rehabilitation medical care and old-age apartments. The scale of the project is large. The local government's policy and financial support are limited. The project builder belongs to small and medium-sized enterprises, and the economic strength is general. There are many difficulties in fund demand. Combining with the current situation of capital market, especially the analysis of alternative investment channels in Northeast China, under the circumstances of insufficient policy finance, high threshold of bank funds, and harsh financing conditions of investment institutions, this paper studies the financing strategies according to the actual situation of the construction project of Xintian Medical and Health Industrial Park, and puts forward reasonable and feasible financing solutions. Using theII government's land policy to make up for the demand for funds, and through asset mortgage, equity financing, human resources technology equity, medical care equipment financing leasing, etc., adopt a variety of combinations of comprehensive financing strategies. The research on Financing Strategy of Xintian Medical and Health Industrial Park construction project has been completed. At the start-up stage of the project, the local government's land policy should be fully utilized to reduce the cost of land financing. IOT (investment-operation- transfer) enterprises are used to make fixed investment in hospital construction. This part of the land is allocated by the government, the land needed for pension projects is negotiated by the government, and the government will give preferential support on the basis of the price of commercial land. During the operation of the project, asset mortgage is adopted. With the start-up and gradual construction of the industrial park project, when the local construction assets meet the bank mortgage policy, mortgage financing can be carried out in batches and stages. This can make better use of the funds of banks and other financial institutions. Equity financing involves the influence of uncertain factors such as management values and ownership structure, changes in government policies, and investors'cautious and slow action. After discussion, the investors are encouraged to sell their equity to win over their investors. At the same time, it uses the mode of technology equity to finance. In order to solve the problem of equity financing, managers and backbone medical technicians in the medical industry should adopt technology equity to reduce the operating cost of human resources. Because of the huge investment in medical endowment equipment, the financial leasing mode is adopted to solve the financial difficulties by cooperating with medical equipment manufacturers, medical equipment agents, and third-party financial leasing institutions. The smooth construction and successful operation of the project will promote the development of medical and pension services in Panjin, and benefit the health of the population in the whole region, the whole city and the surrounding areas. The project of Xintian Medical Pension Center will provide a high-end pension institution withIII medical care as the main support, rehabilitation as the supplement and medical care as the combination. The research results will provide a clear and feasible financing strategy solution to the problems of low income, large investment, narrow financing channels and insufficient support from the real government. The construction project of Xintian Health Industrial Park conforms to the relevant national policies and local conditions, is conducive to the formation of the elderly service industry group, is more conducive to the rapid economic development of Dawa and Panjin City, and is also a key project supported by the state at present. Therefore, project construction is necessary and feasible. Key Words: Xintian Medical and Health Industrial Park，Medical care and old-age care，Financing strategyI 目录 第 1 章 绪论........................................................................................... 1 1.1 研究背景与意义 ............................................................................ 1 1.2 研究方法与内容 ............................................................................ 3 1.3 理论基础和文献综述.................................................................... 3 第 2 章 欣田医疗健康项目融资情况分析及存在的问题................... 1 2.1 欣田医疗健康产业园现状............................................................ 1 2.2 欣田医疗健康产业园建设项目融资存在的问题........................ 4 第 3 章 欣田医疗健康产业园融资问题原因分析............................... 6 3.1 欣田医疗健康产业园运营模式对资金的要求............................ 6 3.2 医疗养老产业园融资特点及对资金的要求................................ 8 3.3 目前市场融资渠道对欣田医疗健康产业园建设项目融资的限 制.......................................................................................................... 12 3.4 欣田医疗健康产业园建设项目融资原因分析结果.................. 13 第 4 章 欣田医疗健康公司产业园建设项目融资问题的解决策略及 方案设计 ................................................................................................. 15 4.1 欣田医疗健康产业园建设项目融资方案设计的原则和目标.. 15 4.2 欣田医疗养老产业园融资方案设计.......................................... 16 4.3 融资管理风险预测 ...................................................................... 24 4.4 本项目融资策略及方案实施保障.............................................. 29 4.5 融资策略实施过程风险应对...................................................... 30 结论 ......................................................................................................... 32