The Study Of Centralize Treasury Management In Enterprise Group Of CNPC

With the support of national policy, enterprise groups of china’s grow rapidly, thenumber of their members becomes larger and the management chain is longer, whichprevent the further development of enterprise groups. At present, the centralizedtreasury management as a management plan for the whole enterprise group, been usedin a larger number of enterprise groups. However, compared with enterprise groupsabroad, the theory is insufficient, the method is backward, the plan for fund using is notgood and so on, in a word, the lack of theory and practice hampered the internationaldevelopment of enterprise groups in china.In the first place, the paper put forward how and what discarded in this article afterstudying the background and the current situation at home and abroad. Then, for thesake of laying foundation for subsequent study, the paper gives a introducing of someconcepts related to centralized treasury management, including why we usingcentralized treasury management, the principle and organizational models of using it,and what theory it based on. In the third place, the article takes enterprise group ofCNPC as a target, gives an overview of it, and introduces the implementation process ofcentralized treasury management in CNPC, in consideration that the study in ourcountry is short of specific cases, the paper gives the mode and operation mechanismused in centralized fund management of CNPC a detailed description, it also noted thedeficiencies and the causes of it. According to the deficiencies, the paper puts that it canbe solved in three ways: firstly, the management mode should be improved; secondly,the operation system of fund management should be completed; thirdly, protectionmeasures for fund management must be emphasis. The paper lists the specific measuresto improve it as well, for example, changing the management mode to one that integratethe group level and regional level together, building a pool of notes with the help offinancial company, creating an invoice system to improve the settlement ability,improving the management of foreign currency, strengthening the informationalconstruction for centralized treasury management, establishing risk prevention andcontrol system. In the fourth place, the article predicts the effect of the improvementmeasures, and looks forward to the future development. In the end, the study canprovide useful clues for the theory and practice of treasury management.