Cashflow Management Of Investment-Holding State-Owned Enterprises

Along with the establishment of the new China,a special kind of organization,State-owned enterprises(SOEs),emerged in the history of China.In the process of continuous development and evolution,SOEs have shown the characteristics of huge economy and wide business type.At the same time,in order to achieve professional management and improve business profit margins,SOEs will gradually different business into the professional business operations,and its own evolution to equity control-based investment-holding enterprises,namely investment-holding SOEs.Investment-holding SOEs mainly through the capital operation and structural reshaping,for the invested enterprises to inject external capital vitality,access to excess capital premium return,so its cashflow mainly from the cashflow of financing activities to meet the management,investment and debt such as demand.At the same time,although the business and management made great progress,but the investment-holding SOEs still contain a strong political color.In the cashflow management,showing a ’Time consuming,passiveand permissible’characteristics.This passive cashflow management model makes the investment-holding SOEs often facing cashflow shortage.The need for temporary borrowing resulting in borrowing difficult,borrowing expensive situation.Especially in the past two years,the domestic and international economic environment presents a complex situation,the rapid increase in the cost of social financing environment,investment-holding SOEs financing activities,cashflowmanagement channels narrow,high cost,focus on payment,hesitation and other shortcomings are amplified.Crack the wayunder the above background,this paper analyzes the cashflow management problem and the optimization measures(mainly the cashflow of financing activities)with ZH Group(and ZHGJ company)as the research object,so as to be able to control the relevant type of investment-holding SOEs’cashflow management.(1)Cashflow risk is high;(2)Lack of financing channels;(3)The clutter of cooperative institutions;(4)The concept of cashflow management is inadequate.On the basis of those,the paper analyzes the cashflow management optimization measures taken by ZH Group in the past five years,combining with the changes of macro environment and internal management measures,among which the management optimization measures include(1)Capital plan management;(2)Indirect financing management;(3)Direct financing management;(4)Risk control management.On the basis of the above analysis,this essay puts forward the suggestions on the cashflow management of fund-raising activities in the future period of the group,based on the future external environment pre-judgment and the combination of ZH’s own status,the revision standard and the application.Finally,the analysis of this article to a certain extent for the majority of investment-holding SOEscashflow management practices and research to provide an effective reference...