在我国经济将长期处于“新常态”的大背景下，伴随着城镇化进程及产业升级不 断深入以及监管部门推行“去杠杆、控风险”等经济、政策环境，结合了“融资融物” 的融资租赁行业在我国经过了 30 余年野蛮生长式发展，面临着新一轮规范升级的挑 战。原有的如政府平台融资等业务因受到来自于监管政策、行业转型升级、银行竞争 等诸多方面挑战而无以为继。在中央大力推进政府与社会资本合作（PPP）业务的背 景下，同样由政府需求引申而来的 PPP 行业吸引着众多融资租赁公司的目光。但由 于 PPP 行业所特有的周期长、合作方众多、收益不高等特性均与融资租赁传统业务 相去甚远，如何将 PPP 行业开拓为融资租赁业下一个主战场也是围绕在各大租赁公 司管理层心中的一个问号，而市场留给租赁公司业务转型的窗口期也不会持续很久。 本文研究的 H 公司是一家融资租赁公司，在发展过程中遇到了如何充分运用自 身优势与能力，并结合 PPP 创新业务特性而选择合适的发展战略。本研究旨在通过 相关理论模型的运用以提出公司 PPP 业务发展战略选择和实施路径，为 H 公司决策 提供参考，并为行业相关其他公司提供借鉴。 本文以 H 公司为研究对象，共分了六个部分进行展开研究。第一部分为绪论，通 过文献研究法梳理了国内外 PPP 相关行业领域的最新研究成果；第二部分阐述了相 关的行业及战略管理理论；第三部分主要侧重于战略环境分析，其中，外部环境方面 运用 PEST 模型分析了 H 公司 PPP 业务所处的宏观环境；并以五力模型为框架进行 了行业与竞争分析；内部环境方面，侧重于 H 公司的基本面以及发展 PPP 业务的资 源与能力角度。第四部分，对 H 公司 PPP 业务发展进行了 SWOT 分析，通过对于现 阶段 H 公司 PPP 业务发展所面临的外部机会与威胁、优势与劣势等分析，为下一步 的战略制定提供思路与依据；之后通过 SWOT 矩阵分析工具得出 H 公司 PPP 业务发 展应该选择的战略，即在拓展型战略下的多元化战略、一体化战略和国际化战略。第 五部分，从组织结构、人才队伍、财务资源以及风控能力四方面来描述上述战略实施 的组织过程及具体保障措施。第六部分为全文结论总结，并指出研究的不足与展望。 关键词，战略管理；PPP；拓展型战略；融资租赁III Abstract Under the background that China's economy will remain in the new normal for a long time, along with the urbanization process and industrial upgrading, the regulatory authorities will implement the economic and policy environment of deleveraging, risk control and the combination of financing and financing. The leasing industry has experienced more than 30 years of barbaric growth in China, facing the challenge of a new round of standardized upgrades. The original main business such as government platform financing was unsustainable due to many challenges from regulatory policies, industry transformation and upgrading, and competition from banks. In the context of the central government's vigorous promotion of Public and Private Partnership (PPP) business, the PPP industry, which was also extended by government demand, attracted the attention of many leasing companies. However, the industry characteristics of long cycle, numerous partners and low profitability make PPP far from the traditional financial leasing business. How to develop the PPP industry into the next main battlefield of the financial leasing industry is also around the management of major leasing companies. A question mark in the heart, and the window of the market for the business transformation of the leasing company will not last long. H company，as studied in this paper, is a leasing company. In the process of development, it has encountered how to make full use of its own advantages and capabilities, and combined with PPP innovative business characteristics to choose the right development strategy. This study aims to provide a reference for H company decision-making through the application of relevant theoretical models to propose the company's PPP business development strategy selection and implementation path, and provide reference for other companies related to the industry. This article takes H company as the research object, and has divided six parts to carry out research. The first part is the introduction, through the literature research method to sort out the latest research results of PPP related industries at home and abroad; the second part elaborates the relevant industry and strategic management theory; the third partIV focuses on the analysis of strategic environment, among which, the external environment part, the PEST model is used to analyze the macro environment of H company's PPP business; the industry and competition analysis is carried out based on the Five-Force model; the internal environment focuses on the fundamentals of H company and the resources and ability of its developing PPP business. In the fourth part, SWOT analysis is carried out on the development of H’s PPP business. Through the analysis of external opportunities and threats, advantages and disadvantages faced by H company PPP business development at the present stage, it provides ideas and basis for the next strategy selection part; Through the SWOT matrix analysis tool, the strategy for the development of H company's PPP business should be selected, that is, the diversification strategy, integration strategy and internationalization strategy under the expansion strategy. The fifth part describes the organizational process and specific safeguard measures of the above strategy implementation from four aspects: organizational structure, talent team, financial resources and risk control capabilities. The sixth part is a summary of the conclusions of the full text, and then points out the research’s shortcomings and prospects. Keywords，Strategic Management; PPP; Expanding Strategy; Leasing目录 致谢....................................................................I 摘要...................................................................II Abstract ...............................................................III 第 1 章 绪论.............................................................1 1.1 选题背景及意义 ....................................................1 1.1.1 选题背景.......................................................1 1.1.2 研究意义 ......................................................2 1.2 国内外研究文献综述 ................................................4 1.3 研究内容和框架 ....................................................7 1.4 研究方法与创新点 ..................................................8 1.4.1 研究方法.......................................................8 1.4.2 技术路线.......................................................8 1.4.3 创新之处.......................................................9 第 2 章 理论基础........................................................11 2.1 PPP 行业相关概念.................................................11 2.1.1 社会资本方的定义 .............................................11 2.1.2 PPP 模式特征 .................................................12 2.1.3 PPP 模式在我国发展现状与问题 .................................13 2.2 战略形态相关理论 .................................................15 2.2.1 战略形态的定义................................................15 2.2.2 战略形态的分类................................................15 2.2.3 拓展型战略的概念..............................................16 2.3 拓展型战略的实现途径.............................................16 2.3.1 市场渗透战略 .................................................17 2.3.2 多元化经营战略 ...............................................17 2.3.3 联合经营战略 .................................................18 2.4 融资租赁行业相关理论.............................................192.4.1 融资租赁的概念及全球行业概况..................................19 2.4.2 融资租赁业的功能及分类 .......................................21 2.4.3 我国融资租赁行业的特点及发展趋势..............................22 第 3 章 H 公司 PPP 业务发展的战略环境分析 ...............................25 3.1 外部环境分析.....................................................25 3.1.1 宏观环境分析 .................................................25 3.1.2 行业竞争分析 .................................................29 3.1.3 H 公司外部环境分析总结 .......................................34 3.2 内部环境分析....................