Research On Financial Supervision Indexes System Of Joint-Venture Railway

Joint-venture railway which appeared in the beginning of 1980s, aims at stimulating the invest interest of local government and enterprises, solving the problem of lack of money, broadening the channel of collecting money, exploring more people and organizations to invest in railway and accelerating the development of railway industry. After 20 years'development, joint-venture railway has become an important part of the rail net of our country and has made great contribution to local railway development. However, there are many problems needed to be discussed. For example, what are the status and function of joint-venture railway under new circumstances? What revision and the consummation of joint-venture railway's management rules and regulations should be made? How to operate and manage joint-venture railway effectively? How to solve the existing problems in operation and management of joint-venture railway? What is the operation mechanism? How to safeguard the rights and interests of joint-venture railway's investors? How to operate and supervise the assets of joint-venture railway effectively? And so on. Thus, research on them has practical and the long-term significance.Research and discussion on related questions of joint-venture railway involves in many aspects. Limited in time and ability, the paper only conducted research on financial supervision indexes system of joint-venture railway. Based on the background and significance of research, the paper investigated and summarized the related research both at home and abroad. It elaborated the research achievement and the existing questions and showed the research mentality,contents and method. Embarked from the modern financial management theory, the modern property right theory, the authorize-agent theory and the drive-restraint theory, it discussed the rationale and the enlightenment. It analyzed the operation and management patterns of joint-venture railway, principles,contents and key points of financial supervision. It proposed financial supervision indexes of joint-venture railway under different management patterns and corresponding supervision indexes system. Finally it discussed and analyzed the influential factors of financial supervision indexes, and put forward measures and suggestions to the how to enhance financial supervision.We come to the conclusion as follows through the research:1. Research on financial supervision indexes system of joint-venture railway is of great importance which manifested in the following. The establishment of financial supervision indexes system of joint-venture railway is needed for defining property right and realization modern enterprise's two rights separation. It is helpful in the promotion of operation and management of joint-venture railway. Also it can strengthen the risk control of joint-venture railway.2. There are different contents and key points of financial supervision according to different operation and management pattern of joint-venture railway. We can see details in section two and four, chapter three.3. We are able to establish this set of financial supervision indexes in six aspects, such as the operation efficiency, quality, debt paying ability, development ability, cash current capacity and the society contribute.4. The main influential factors of financial supervision system of joint-venture railway are as following: railway dispatch power; income settlement means; transportation charges; capital proportion and capital realization; expenses.5. This paper put forward measures and suggestions to how to enhance financial supervision of joint-venture railway in the following aspects: releasing dispatch power completely or partly from the country's railway; formulating new settlement means and transportation charges policy; enlarging divergence, developing the transportation marketing vigorously; defining property rights, safeguarding the rights and interests of investors fully; reducing the cost and expenses; perfecting the management of income and the expenses and so on.