Exploration And Analysis Of The Commercial Credit Financing About Chinese Listed Companies

Commercial credit financing is the earliest way of financing about human social and economic development, prior to bank credit. Commercial credit financing have many metrics, such as the convenience of financing, low-cost, easily to control the risk and so on, the utilization of the commercial credit financing is one of the socio-economic development of metrics. In economically developed countries, its business in the ordinary course of trading activities usually tend to be settled by trade credit, to maintain a close credit relationship is to promote the foundation for the development of social credit. Due to the influence of various factors, the Enterprise Business credit financing degree of utilization in our country is far below to the economic developed countries or regions.Undeveloped commercial credit financing is a major factor influences enterprises bigger and stronger, is one of the main reason for China’s national economic development. Therefore, both the absolute number and relative number of commercial credit financing, there is a huge space for Enterprise Business credit financing development. In the new economy, as China’s social and economic development, the demand for commercial credit financing will become increasingly larger. So take advantage of commercial credit financing is conducive to rapidly and healthy development of China economy.After the world financial crisis, due to the impact of the international economic situation, China’s securities market in the doldrums, China’s listed companies increased by the difficulty of raising funds from the stock market. And in response to the risk of inflation, the central bank carry out tighten monetary policy to make a substantial reduction in commercial bank loans that cause many cash flow problems in trouble of companies step by step. In front of the difficult economic situation, the transformation is needed of China’s listed companies that have been relying on foreign sources of financing to raise funds, and make full use of commercial credit financing to raise enterprise development funds.Rational use of commercial credit financing, not only to broaden the financing channels of the listed companies in China to solve the plight of the listed company cash flow, but also to strength the link between the various enterprises in the industrial chain by use of commercial credit financing. Enterprises in the same industrial chain joint as a whole, in favor of enhance the capabilities and business development capabilities against external pressure.In order to explore China listed companies how to make full use of commercial credit.In this paper, the author use of normative research methods, the basic theory of economics and management science, comparative analysis and experience to draw on methods combined with analysis of the commercial credit financing situation of China listed companies. Through the analysis of application of commercial credit financing about China listed companies during2003-2010, and drawing on the experience of foreign enterprises about commercial credit financing, then suggestions to. China listed companies that the problems of commercial credit financing use. Paper is divided into six parts, the first part is the introductory part, it covers the background of the topics and the topics of significance; the second part elaborates the commercial credit financing related concepts, theories, advantages and disadvantages of the described; the third part analyzes the problems of the commercial credit financing process about China listed companies and the reasons. These problems include the number of commercial credit financing about listed companies in China is small, little net financing of commercial in listed companies, the contribution of commercial credit financing about income contribution is undistinguished, working capital turnover is slow, and commercial credit financing in various sectors of listed quite different. The reasons for these problems including China’s financial system does not combine with the commercial credit better, has not a sound social credit system, China’s system defected and weak awareness of the credit culture of the whole society;The fourth part is foreign experience, draw on the experience about how to ineffectively use of commercial credit financing in United States and Japan; Part five is about countermeasures and suggestions, In this part, the author put forward relevant suggestions from the corporate external and internal. Specific recommendations include:support to strengthen the financial system of commercial credit financing, improve the relevant system; the establishment of a credit management system; increase the development of bill market; deepen reform and explicit the system of property rights; change the concept of corporate finance; strengthening enterprise with upstream suppliers cooperative relations;strengthen the awareness of corporate credit and manage the cash flow in order to prevent from dishonesty acts. The last part is the conclusion.I hope that the paper could provide a theoretical basis and suggestions, for the China listed companies how to make full use of commercial credit financing.