The Research Of Haier Group's Foreign Cash Management

Implementation of collectivization is an inevitable trend of the development of modern enterprises.The implementation of group development is an inevitable trend in the process of modern business development.The universal application of operation mode of enterprise groups,although in the sharing of resources,the implementation of diversified development,plays a positive role in improving the innovation ability of the enterprise,but to set up a number of legal entities for the funds management of the enterprise has brought a new task.Especially Chinese thirty years of reform and opening up more and more Chinese enterprises "going out" strategy,set up overseas,overseas mergers and acquisitions,overseas sales,the Chinese the emergence of a large number of multinational enterprise group company,cross national,cross regional,cross legal entity implementation fund centralized management issue.This paper mainly adopts the method of combining theory with practice,and takes a model of case analysis.Firstly,the paper takes Haier Group as a research target to analysis the feasibility and necessity to carry on the centralized operation and management of foreign exchange funds.The reform process of foreign exchange management in China since 2003,from non-trade items to current account,from current account to capital account,from cross-border lending to external debt management.It's the external policy foundation.The other reason which is based on the global industrial layout of Haier group and the successful RMB funds centralized operation management experience of Haier Finance Co.LTD(shortly HFC).Secondly,the article introduces the target of the centralized operation and management of foreign exchange funds of Haier Group,including achieving a 24-hour cash management goal,integrating the global interest rate cost management and a unitive goal of exchange rate risk management around the word.Thirdly,,based on the goal of above,Haier group combines its own industrial layout and cash flow characteristics to set the objective of “one account” around the world,and the cash management model of "budget hedging and centralized collection",and the credit and capital resources management model of "global sharing",and the risk centralized management mode of "internal rolling and position closing".And finally,according to the practical operation of Haier group,the article points out the effect and problems encountered in the operation and management of foreign exchange funds of HFC,introduces the practice of Haier in solving the problems of the exploration.