China's Retail Listed Company Working Capital

Along with the completely open of the retailing market, the survival and development of domestic retailing companies are facing tremendous challenges. The management especially financial management in the retailing companies will have a direct effect on the development of our national economy. Working capital is close related with the daily operation of the business and can extend to every aspect. To some extent, the competitive ability of a company is directly depending on the ability of working capital management. So the studying of working capital management of listed companies in the retailing industry has a great sense both in theory and practice.This paper mainly studies the listed companies in the retailing industry. Directed by the modern theories of financial management, combined with the status of working capital management in some typical retailing companies both in and abroad, this paper systematically analyses the present status and problems of working capital in domestic retailing industry and companies. At last, some related suggestions and advice are given. At the beginning, we have a briefing and retrospection of working capital theory and policy, and then explain why there is a reduction of working capital level in many companies at present. Secondly, the author comprehensively analyzes the listed companies in the retailing industry as a whole. At the same time, comparisons are made with other four retailing companies in and abroad, which disclose our gaps with global advanced level in working capital management field. And then, this paper clarifies the problems of working capital management in the listed companies of the retailing industry; gives some advice on how to improve the efficiency of working capital management. At the end of the paper, the author points out the limitations of the studying and the future studying directions in this area.