近年来，伴随着金融行业的发展，信托公司作为游离于不同金融业态间的特殊金融行业，得到了快速的发展。信托行业近年发展的最大动力来源于对房地产行业的投资，随着房地产行业宏观调控的影响，为了维持业务的增长速度，信托公司将煤炭开采行业列为了未来重点拓展的蓝海市场。2009年末开始，信托公司已经开始小规模开展对煤炭开采行业的投资，2011年投资规模实现了跨越式增长。未来更大规模的业务的拓展必将以风险控制为前提条件，本文通过结合实践工作经验，对信托投资流程进行分解，对历史投资数据进行总结并通过专家主观赋权评价方法对信托公司投资煤炭行业的风险作出系统性的分析。全文分为五个部分：第一部分论述了文章的选题背景和意义，粗略地描述了信托公司投资煤炭开采行业的背景和现状，同时说明了研究目的和研究思路。第二部分中对我国煤炭开采行业以及信托公司对煤炭开采行业的投融资情况进行基本介绍。其中对煤炭开采行业的基本介绍包括煤炭开采行业的现状、法律法规、投资主体及融资渠道进行了介绍。对信托公司投资煤炭开采行业情况的基本介绍中包括信托投资动机、优劣势分析以及未来发展趋势预测。第三部分为信托公司投资煤炭开采行业的风险分析，主要分为风险识别、宏观风险分析、微观风险分析和信托投资的特殊性风险分析以及风险缓释措施这五部分。本部分中通过对信托投资流程的分解以及对历史投资数据的借鉴，实现了对信托投资煤炭开采行业的风险识别和风险分析，并针对相应的风险因素寻找风险缓释措施。第四部分为信托公司投资煤炭开采行业的风险评分体系。本部分通过第三部分进行的风险分析，设计专家风险赋权调查问卷。通过20名专家对风险程度调查问卷以及风险缓释程度调查问卷内相关指标的赋权和指标范围的评分，最终形成信托公司项目投资风险评分体系。评分体系分为投资项目风险程度评分表和投资项目风险缓释程度评分表。评分体系建立后，通过历史投资项目的相关数据对风险评分体系进行实践检验，并寻找到其中的不足与解决方式。第五部分为结论部分。通过前四部分的分析与研究，最终形成了信托项目投资风险体系。信托项目投资风险体系需要未来不断补充和更新更多的实践项目数据来进行修正和调整。最后介绍笔者通过风险分析过程得到的相关启示。

In recent years, along with the development of the financial industry, the trust company as free at different financial institutions the special financial industry, has been rapid development. The development of trust industry in recent years the largest source of power in the investment of real estate, real estate industry as the influence of macroscopical adjusting control, in order to maintain business growth rate, trust company coal mining industry to the future focus on expanding blue sea market.The beginning of the end of 2009, the trust company has started small scale development of coal mining industry investment, investment in 2011 scale achieved leapfrog growth. Future larger scale of business expansion is bound to the risk control as the prerequisite, this paper combined with the practical work experience, the trust and investment process decomposition, the historical data is summarized and investment through the expert subjective evaluation method to coal industry trust company investment risk making systematic analysis.The full text is divided into five parts:The first part discusses the background and significance of the topic, roughly describe the trust companies to invest in the background and present situation of coal mining industry, and illustrates the research purpose and research train of thought.The second part of China's coal mining industry and trust company in coal mining industry investment and financing for basic introduction. The coal mining industry is the basic introduction including coal mining industry current situation, laws and regulations, subject of investment and financing channel are introduced. The trust companies to invest in coal mining industry the basic situation introduction including trust investment motivation, advantage and disadvantage analysis and forecasting the future development trend.The third part is the trust company investment risk analysis of the coal mining industry, mainly divided into risk identification, risk analysis, macro micro risk analysis and investment trust special risk analysis and risk mitigation measures to this five part. This part of the investment process decomposition as well as to the historical data of investment model, the trust and investment in coal mining industry the risk identification and risk analysis, and according to the different risk factors for risk mitigation measures.The fourth part is the trust companies to invest in coal mining industry risk score system. Through the third part of the risk analysis, risk empowerment questionnaire design expert. By 20 experts on the degree of risk and risk mitigation measure questionnaire questionnaire related indexes and index weight range of scores, eventually forming a trust company project to invest a risk score system. Scoring system for investment project risk score table and investment project risk mitigation severity score table. Score system is built, through the history of investment projects of the relevant data on risk score system for practical testing, and find the shortage and solution.The fifth part is the conclusion part. Through the analysis and research of the fourth part, finally formed a trust investment risk system. Trust investment risk system needs the future constantly added and updated more practical project data to carry on the revision and the adjustment. Finally introduced the risk analysis process is relative enlightenment.