下面为大家整理一篇优秀的essay代写范文- Investment and financing system,供大家参考学习,这篇论文讨论了投融资体制。在如今的投融资体制中,我们更多的重视所有制而忽略了生产力的重要性,在宏观调控领域中,宏微观经济学被认为远重要于伦理和制度经济学,从而直接影响了体制的正常和快速的运行、发展,应大力规范和发展资本市场,促进企业直接投融资,促使企业建立现代企业制度。
This issue believe that readers are familiar, such circumstance is two aspects reasons: on the one hand, enterprises in order to enlarge the scale of their investment, not considering the enterprise bear ability, investment and financing ability and expanding blindly. On the other hand the business goal is too shallow, in pursuit of short-term benefits, or with a certain stage in order to complete the assessment indicators and only consider the short-term gains project, thus the possibility of serious influence the enterprise long-term development.
Country to asset liability ratio adjustment, state-owned commercial Banks by focusing on regulation for national key projects and large enterprises on the loans, and many branches at the county level have loan authority, thus for enterprise development and financing has brought a certain degree of trouble.
Here refers to the imbalance in the structure of investment and financing of the corresponding enterprise investment structure and the financing structure imbalance, generally speaking, long-term investment should be from the long-term liabilities or owners' equity, while short-term investments should be from the short-term debt, so as to make the investment and financing the repayment period of basic same, to maximum extent, reduce risk and financial crisis. The reality is that a large number of enterprises lack medium - and long-term credit and equity capital.
Many enterprises lack the supervision of funds, neither specify the statistics of current funds, nor analyze the current funds, so it is difficult to play the role of early warning in financial management. However, many financial managers lack professional knowledge and management knowledge, which has a direct impact on enterprise investment and financing.
Has been carrying on the reform of state-owned enterprises, but because of the lack of autonomy, state-owned enterprises in the development of market due to the lack of government support by government interference, even can't fully formed the independent development, makes it hard to make reasonable adjustment according to actual condition.
The inefficiency of China's investment and financing system has great influence on the operation of enterprise assets. The reason why the operation efficiency of the investment and financing system is low is that on the one hand, the financing method is unitary and it cannot find the proper way to make effective investment. On the other hand, the development of financial markets is unbalanced and the coverage of financial services is unreasonable.
First is not enough coordination between the government and state-owned enterprises, while state-controlled hardly has influence on state-owned enterprises, and the government in the construction and development of the enterprise investment and financing system did not exert enough influence. Therefore, we lack relevant experience and are restricted by the level and mechanism.
Under the analysis of the investment and financing environment, the legal environment is always weak. Due to the different legislative time, relevant laws have different robustness in different aspects, leading to many aspects of policies but no corresponding laws. This has certain influence on financial stability and supervision efficiency.
On the other hand, from the structure of the legislation, although financial legal framework has been basically forming, however there are some other problems, such as the insufficient for the protection of consumer rights and interests, in the legislation of the law application? C/the actual situation is lack of operability, or the law is difficult to adjust due to the rapid change of the market. On the other hand, the law enforcement organization structure is not perfect, resulting in insufficient law enforcement and the law enforcement process is not rigorous enough.
The interests of the investors or creditors due to market order received, many places use financing as a condition of the development of the blind expansion of financing, lead to bank loans difficult to return, so for a long time past would have a huge impact in the credit market, and further affect the development of the enterprise and financing.
More attention in China's investment and financing system of ownership and ignore the importance of productivity in the field of the macroeconomic regulation and control, macro to micro economics is regarded as more important than ethics and institutional economics, which directly affect the system's operation and development of normal and fast.
To break the monopoly industry, actively promotes competition, provide enterprises with an environment of fair competition and development, at the same time some mainly by national finance investment of basic construction project can also introduce the competition mechanism, non-state economic participation are allowed. Non-state economy can play a greater role by adopting BOT and other investment and financing methods to establish project companies. To remove financing discrimination of non-state economy, first of all is to radically change the state-owned bank credit in the process of "composition theory", strengthen the profit constraint, establishing and perfecting the incentive mechanism, further development and improvement of the banking system at the same time, improve the financial service level and service quality. Secondly, it is necessary to remove the planned control and administrative intervention on the capital market as soon as possible, and give non-state-owned economy equal access to direct financing. The market will decide the listing qualification of enterprises. We should consider opening up the second board market as soon as possible, setting up low-standard equity trading markets in areas where conditions permit, and opening up direct financing channels for qualified enterprises.
The government and enterprises must change their ideas and protect the rights and interests of investors so as to keep the financing channels open for a long time. We will vigorously improve the social and credit environment, severely crack down on ACTS of maliciously evading and abolishing bank debts by means of reform, seriously deal with those responsible and strictly prohibit them from changing their land to become officials. From out of service for the reform of state-owned enterprises in the capital markets shift service for investors to get a good return on investment, strengthen the management of the listed company, really start delisting mechanism, realize the evolution of listed companies.
Investment system reform in our country for many years, today still languishing, the main reason is not fully rely on market allocation resources in the field of investment, but with the practice of under the traditional planned economy system, the configuration of resources by the government. The specific manifestation is that the government interferes in the investment activities of enterprises and implements the project approval system for enterprise investment. Dual function to the government, therefore, clear, as the main body of investment orientation, the government must from the competitive spheres quit completely, the government investment is limited to areas of national security and the interests of the whole society. In particular, investment in the national debt is a special practice in a special period of time, not a long-term solution. We should pay attention to the role of "four or two thousand jin" to drive private investment and not fight alone. As a manager of the localization, the government's regulation of investment and financing from direct control to the main use of fiscal and monetary policy, tax policy and industrial policy of indirect control shift, in addition to the major projects, the government generally does not carry on the project examination and approval, is really necessary, the government approval of the project will also simplify examination and approval procedures as much as possible. General project by the examination and approval system to the records, to thoroughly solve the problem of government intervention on business investment, should also be under pneumatic put an end to happen the following phenomena: the number of citing the region economy development, local government leaders to instruct enterprises on the project, especially those from the macroscopic point of view is already a repeat of the construction of the project. Some local government officials have taken advantage of administrative subordination to instruct their enterprises to invest in "image project" and "directorate project" in disguise.
At present, the financial risk problem has aroused the country attaches great importance to, and has to take effective measures to prevent and dissolve the risk, such as the issuance of 270 billion yuan of special national debt, used to supplement the big four state-owned commercial Banks in the capital, set up asset management companies, control of state-owned commercial Banks non-performing assets should be paid attention to the current due to slow economic growth, so as to focus on financial risk in the attention to economic growth. Should further deepen the reform of the bank's commercial, perfect the corporate governance of commercial Banks, and gradually transform the wholly state-owned commercial Banks into state-controlled, domestic enterprises, residents and foreign capital investment joint-stock commercial Banks, conform to the conditions of listed companies. Some local joint-stock commercial bank, supervise and urge its shareholders' full capital, and attracting investment in social capital, the capital adequacy ratio of Banks in China as soon as possible to the provisions of the Basel agreement, enhance its ability to resist risks. We will further improve the bank's internal control system and implement the "three inspections" system for loans. We will standardize the operation of listed companies, severely crack down on shady operations in the stock market, and take serious measures to deal with those responsible for fraud, listing packaging and stock price manipulation to ensure the quality of listed companies.
Residents in our country nearly eight trillion yuan savings deposits, combined with our country enterprise capital market investment and financing proportion is far lower than some countries abroad, the development of capital market still has large space, should be to standardize and develop the capital market, promote enterprise investment and financing directly, encourage enterprises to establish modern enterprise system. Experience from abroad, in particular, bond financing can not only achieve long-term funding sources, maximize the development of enterprises, but also can block the disadvantages of loan financing and equity financing, bond financing has become main channel of enterprise investment and financing, and lagging behind the development of our country capital market, money market and obviously lag behind the stock market, enterprise bond market, therefore, to develop the specification in the future as the focus of the development of enterprise bond market.
In the investment system, the property right of the investment subject and its social status are very important. As mentioned above, the most important reason why the investment system of developed market economy countries is successful is the property right of enterprises and their dominant position in the whole society.
While accelerating the transformation of state-owned investment entities, we should vigorously cultivate non-public economic investment entities. As mentioned above, non-public economic investment subjects are more likely to unify investment responsibility, right and interest than state-owned investment subjects. Since China's reform and opening up, get a rapid development of non-public economy in our country, according to the relevant departments of the calculation, at present, the non-public economy to gross domestic product (GDP) and economic benefits the contribution rate of major targets for more than 5%, but still has great space for development. "The state encourages, supports and guides the development of the non-public economy "; The third plenary session of the 16th central committee of the communist party of China (CPC) clearly stated for the first time that "non-public capital shall be allowed to enter infrastructure, public utilities and other industries and fields that are not prohibited by laws and regulations". All of these important decisions have provided legal and policy basis for the vigorous development of the non-public economy in the future, and are also powerful impetus for the great development of the non-public economy.
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