The Research On Improvement Of Centralized Management Of Funds Of Hunan Publishing Group

The comprehensive strength of Hunan Publishing Group (HNPG) rank second indomestic publishing groups. After ten years of development, HNPG have establisheda Centralized Funds Management System which the Finance Department of Groupheadquarters incharge of Centralized Management of Funds Fund Management,Group Settlement Center incharge of funds operatoring and settling. However, withthe overall restructuring of the Group,and group-owned China South Publishing&Media Group Co，Ltd listed, the original centralized fund management system has beenunable to meet the needs of rapid development of the HNPG.This article first comprehensive comparison of the relevant literature of thecentralized management of funds, summarizes the theoretical basis and mode ofoperation of the centralized management of group funds. And then analyze the statusof the centralized management of funds of the HNPG, summed up the advantages anddisadvantages of existing centralized funds management model. Based on the use ofinternal capital markets theory, value chain management theory, to improve the HNPGfunds according to changes in the environment centralized management objectives,framework and working methods how to advocate the implementation of theheadquarters of the Group and headquarters and the listed companies (CNS), two corelevels of centralized management, funds management model parallel the developmentof Settlement Center and Finance Companies combined with the actual situation ofHNPG, to Group headquarters control capacity for the purpose of the funds centralizedmanagement information system construction as a means, improve the Group’sinternal capital market to optimize intra-group external funding activities in the valuechain, improve the Group’s capital management system by "centralized management,unified regulation, unified financing", to normalize funds operating behavior of theGroup and their affiliated, to strengthen financial risk control, and to improveeffectiveness of capital.Finally, with the help of Cash Pool, Directly Connectings of banks andenterprises, and other modern financial technology innovation, the article put forwardmeasures to strengthen the centralized management of funds, and discuss the five safeguards,including financial governance, financial systems, information systems,financial managers, internal control.