Innovation On The Financial Management System Of QRRS

Being one of major infrastructure industries for national economy, the railway equipment manufacturing industry has witnessed ever-enhanced competition among counterparts in this field since strategy of China railway stride up development was initiated. As a result, Qiqihar Railway Rolling Stock (Group) Co., Ltd (referred to as QRRS) in the lead of China railway equipment manufacturing have been confronted with arduous tasks in terms of being stronger than before, adjusting product structure, up grading, improving quality and enhancing efficiency.In recent years, the concept of financial management being the centre for enterprise management has already been shared, the combined research on strategy management theory and financial management theory has formed the financial management theory focusing on financial strategy management, which has provided sound theoretic direction and approach for establishing the financial management system to tailor to development of marketing economy.In reference with the financial work meeting of QRRS in the first half of 2006, based on the conclusive analysis on financial operation condition during the above period, the paper has presented a series of enterprise financial management problems existing in the company, and has illustrated truly the problems associated with the financial management and system operation in the state-owned enterprise. Through analysis of the specific cases, the measurements in terms of capital & cash collection operation, implementation of full scale budget, uniform accounting double check system, etc have been advised to improve business operation, increase economic benefits and enhance enterprise capacity for competition, consolidate financial management of QRRS as well.