Study Of Capital Structure In Liaoning Province Adhering To Sustainable Development

China puts forward the development strategy for reviving northeast old industrial base. It provides an important chance of economic development of Liaoning province. We should seize the historical chance to analyze and adjust capital structure of the province so as to promote the economic sustainable development in Liaoning province.The objective of economic development is to attain the state of sustainable development, while the core of economic sustainable development is the continuous increase or keeping its original value of social total capital. According to the new method of national wealth calculation proposed by World Bank, national wealth is grand sum of artificial capital, human capital, natural capital and social capital. Variation of total national wealth can be regarded as evaluation criterion of sustainable development trend. The structure variation of national wealth gives explanation to some degree for the decrease or increase of sustainable development level. Therefore, economic development scene can be analyzed through the research of capital wealth, and then the unreasonable capital structure can be regulated. It is difficult to assess the social capital which has the positive and multiply function in economic development,so only qualitative analysis to the social capital is exploited in this paper. The thesis checks the value of artificial capital, natural capital and human capital excluding the social capital in Liaoning Province and analyzes the sustainable development of Liaoning according to the total variation and wealth structure variation of artificial capital, natural capital and human capital. Because of the unreasonable capital structure of Liaoning, especially the low proportion of human capital,there is a big gap between the low proportion of human capital in Liaoning and the 70% minimal requirements of sustainable development raised by World Bank. Moreover, although there is exaltation in human and artificial capital, it is at the cost of consumption of natural capital and it doesn't correspond with the requirements of sustainable development that the total sum of artificial capital, natural capital and human capital keep increase or at least one kind of the three capitals keeps unchanging. So we can conclude that the economic development in Liaoning is not a sustainable one. Finally, the present paper suggests that the capital structure of Liaoning province should be adjusted pointedly on the basis of the analysis of capital structure. The thesis expects to make economic development of Liaoning province develop in the direction of sustainable one.