Research On The Optimization Of Financing Channels Of Jilin Chemical Fiber Co..Ltd

Third Plenary Session of the Party’s eighteen “decision” made perfectmulti-level capital market system, pointing out that a sound multi-level capital marketis an important part of improving the modern market system, but also to promote astrategic task of China’s economic transformation and upgrading. In the case ofmodern continuous development of the socialist market economy, enterprises haveencountered in the development of a growing number of problems, which affect thedevelopment of the lack of funds is a fatal problem, and companies are often unableto find suitable financing, caused difficulties in financing, financing costs remainhigh.Jilin Chemical Fiber Co., Ltd. approved by the Department of Economic SystemReform Commission of Jilin, Jilin Chemical Fiber Factory as the exclusive sponsor,to take stock company established by way of private placement. July1996at theShenzhen Stock Exchange listing. Jilin, Jilin Chemical Fiber is listed earlier anddevelop good business, but still indirect financing of Jilin Chemical Fiber bank loans,etc, only once in10years of financing through the capital markets and other directfinancing tools. How to improve the capacity for sustainable development of listedcompanies, especially in the protection of some of the restructuring and developmentof high-quality companies and brands, to solve the company’s development of itsexistence in the transformation process of financing problems, has been worthy of ourconsideration and research.Because China’s capital market is not perfect, the banking system is highlyconcentrated, most of the listed companies in China’s existing financing choice thereare problems, the company except when the IPO to raise funds in the capital markets,the company’s daily operations still bank loans indirect financing, inadequatefinancing of the existing system for effective management, and take effective financing, financing tools play a direct role in equity, debt financing and other capitalmarkets.In this paper, Jilin Chemical Fiber Corporation for the study, the use of literatureanalysis and empirical analysis, the presence of Jilin Chemical Fiber financingsituation and existing financing channels for a single, large dependence on bank loans,bank credit to the main short-term loans, in the case of small-scale long-term loans,bank loans to the parent company, the main subsidiary of weak lending capacity andother issues described species analyzed the use of inadequate financing, financingregional limitations exist, capital structure and other factors that lead to businesscontrol unreasonable financing problems exist, thereby combining the advancedachievements of domestic and foreign listed companies financing and financingselected, targeted to identify the full use of direct financing, to get rid of thelimitations of the financing area, improve the corporate governance structure,strengthen financial risks. response measures and safeguards.From this research analysis, the Jilin Chemical Fiber as a listed company has arelatively broad financing channels to choose from, as long as the full use of thecompany direct financing capital markets appear to get rid of some of the limitationsof the financing area, by improving the structure of the company directly, scientificand reasonable select the appropriate development of the company’s financing,through the pioneering explorations in scientific risk assessment in accordance withthe reference standard, the company to find out a more suitable combination ofmulti-level financing to promote the company and continue to upgrade and betterdevelopment of.