Acetate Enterprise Group Financial Management Process Design

China cellulose fiber industry started from middle of 1980s in the form of joint ventures. Currently in China,there are three joint ventures with Celanese,USA.They are Nantong, Kunming and Zhuhai Cellulose Fibers Company,Ltd.which have achieved rapid development.Kunming and Zhuhai companies completed their expansion already. Expansion in Nantong is planned to be completed in 2007.The total annual yield of three JV will achieve 128,000 tons of cigarette tow,which will be 80%of market share in China, and 19.7%in world market.Protected by the barrier to entry of state monopoly policy, cellulose fibers industry in China still lies in the planned economy era.With entry of China into WTO,the industry will face very tense challenge.In the near three to five years,it is the strategic opportunity period for Chinese cellulose fibers enterprises to fight against powerful world competitors.Therefore it is their urgently need to analyze and implement feasible cellulose fibers consolidation strategy now.As a core part of the consolidation strategy,financial management model plays an import role in the operation of the whole consolidated group.Based on study and analysis on the current ways of three JV budget,accounting and capital management,and using basic theory of modern financial management,this thesis make analysis on features of currently popular "centralized way","decentralized way" and "decentralized management under guidance of group headquarters".Combining ways of operation of cellulose fibers group and with considerations given to early stage of development of group operation,I selected centralized way for financial management to study procedures of group financial management,designed details of framework and procedures for budget management,accounting and capital management,fully considering group corporation control strength,business connection of corporation and its divisions and practice of model operation.The thesis focuses on study and design of financial management model of specific enterprise with combination of case study and actual situation and makes some useful research on practice and theories.