Study On Risk Control Of Liabilities In Chenming Paper Industry

At present,debt management has become the normal operation of most enterprises in China,and the country gradually realizes that if the operation is not good,the leverage effect of debt management will not only make the operation of the enterprise's capital chain appear vicious circle,but also bring certain risks to the sustainable development of the enterprise,even in the long run,it will make the national economy face huge financial risks.As early as two years ago,at the beginning of the early summer,the state finance and Economic Commission held an important financial conference to put "structural deleveraging" on the agenda,pointed out the important policy of "making a good defense against and resolving financial risks",advocated that all enterprises adjust their capital structure,do not rely too much on interest financing and operation,and required administrative organs at all levels,enterprises and important state-owned enterprises to pay attention to their own leverage,try to control the leverage impact within a reasonable range.Under such macroeconomic policy control,the paper industry is also subject to considerable impact and challenges.If there is no idea of risk prevention in the process of enterprise operation,or if there is no ability to prevent and control all kinds of risks,it will affect its profitability in the process of operation,and sometimes even make it difficult for enterprises to maintain normal operation.Therefore,the paper industry should take various preventive measures to cope with the changing economic environment inside and outside,and flexibly control its own debt scale as well as various operational and financial risks.If an enterprise wants to control its own debt scale,it must do a good job in debt risk prevention and control,and have relevant prevention and control system,so as to make timely response,so as to avoid the whole production and operation from being paralyzed due to capital problems.In this paper,based on a comprehensive understanding of the relevant basic theory of debt management in the paper industry,the characteristics of debt management in the paper industry are summarized,and the reasons for the high debt are analyzed,and various problems existing in the paper industry due to debt management are analyzed,and corresponding countermeasures are put forward.This paper selects Chenming paper,a typical representative of China's paper industry,to deeply understand the current situation of Chenming Paper's liability management risk,to analyze Chenming Paper's operation status and financial situation,to analyze its various problems related to risk caused by debt financing under the impact of the new economic environment,to evaluate the risk control measures taken and to point out that after taking the control measures,it is still However,there are some deficiencies,such as unreasonable debt,weak debt paying ability,high financing cost and low operating ability.The main reason is that the risks of debt paying,refinancing and credit risk are increased,which leads to the negative effect of leverage and the huge financial expenses engulf the profits.Finally,the paper summarizes the experienceand lessons,and puts forward the perfect risk control and countermeasures.According to the idea of risk control procedure,that is,risk identification-risk assessment-risk assessment-risk management technology selection-effect assessment,this paper puts forward the problems and solutions in each step.By solving the debt management risk of Chenming paper industry,the company can obtain long-term benefits and achieve considerable development,which has positive significance for its further development,and can provide useful ideas for the debt management risk control of China's paper industry.