Research On The Financeial Contribution Of Jiangxi Copper Group Finance Company To The Parent Company

As a product of financial reform and development,financial companies can help group companies to improve the optimal allocation of funds,carry out the rational distribution of resources effectively,and also have an important promotion role in regulating and controlling macroeconomic operations.Therefore,the establishment of financial companies is currently the development trend of large group enterprises.The finance company,while rearranging the capital structure for the enterprise group,is also providing internal loans below the market interest rate for some member units that can not borrow money from the bank and whose internal quality is not good enough to maintain their basic operation.And financial companies can integrate the size of the group's funds,and it is easier to obtain excess income in terms of investment and financial management,so this model is increasingly used by large group companies.This article starts from the basic situation of Jiangxi Copper Industry Group,discusses the business development between Jiangxi Copper Industry Group Corporation and Jiangtong Finance Company,and introduces the five theoretical bases of transaction,which include cost theory,production and integration theory,financial function theory,internal capital market theory,and value chain theory.From a macro point of view,after the establishment of the Jiangtong Group Finance Company,it differs from the previous ones in terms of source of funds,business scope,tax relief,talent transfer,etc..On this basis,by comparing the balance sheets and profit tables of Jiangxi Copper Group and Jiangtong Finance Company in recent years,According to the theoretical analysis and empirical analysis of the financial company's contribution to the parent company,one by one the indicators are analyzed and determined,and the financial contribution to Jiangxi Copper Group after the establishment of Jiangtong Finance Company is obtained.Finally,based on the data and the trend of development of non-banking financial institutions and the basic background of the policy of strong supervision and accountability of the CBRC and the People's Bank of China,this paper draws the financial contribution measure of Jiangtong Finance Company to the parent company.The paper also analyzes the difficulties encountered by finance companies in the process of development and prospects for the future model.