黑木相思与速生桉商品用材林培育的经济效益对比分析

以国家开发银行贷款建设200 hm²黑木相思与速生桉用材林培育为例，采用动态经济分析方法进行财务净现值、内部收益率等指标及投资不确定性分析，研究两者投资经营的经济效益。结果表明，计算期（13a）内，黑木相思和速生桉用材林的内部收益率、投资利润率和资本金利润率均高于行业基准收益率（8%），项目可行。黑木相思的财务净现值、内部收益率高于速生桉，其经济效益好，盈利能力和抗风险能力强。

Comparative Analysis of Economic Benefits of Commercial Timber Forest Cultivation of Acacia melanoxylon and Fast-growing Eucalyptus

This paper used the dynamic economic analysis method to analyze the financial net present value, internal rate of return and other indicators as well as the investment uncertainty, and to study the economic benefits of investment and management of 200 hm² commercial timber forest cultivation of Acacia melanoxylon and fast-growing Eucalyptus with loans from the National Development Bank. The results showed that, within the calculation period (13a), the internal rate of return, investment profit rate and capital profit rate of Acacia melanoxylon and fast-growing Eucalyptus timber forests were higher than the industry benchmark rate of return (8%), so the project was feasible. Acacia melanoxylon had higher financial net present value and internal rate of return than fast-growing Eucalyptus, which had good economic benefits, strong profitability and risk resistance.