Research On Financing Of Jilin Expressway Group’s Expressway

As a symbol of modern country, expressway plays an important role innational economic.Recently, China present stage to expressway constructionas a key strategy for the country.But the expressway construction in ourcountry started relatively late compared with mainstream developed countries,But it was not Until the1990’s that most of the province began to expresswayconstruction, makes must focus on a large scale in a short time.Based uponthe data,in recent years,it has the booming in the expressway construction inChina.All of2013, the national had complete8,286kilometers expressway,accumulated of104,468kilometers, has become the first of the world.,thenational economy booming demand for expressway.But at the same time, theproblem of construction funds become the bottleneck of the rapid developmentof expressway construction.Take jilin province for example, in2014, theplanning construction of expressway is630kilometers,and the budget of theinvestment is￥49billion.In2013, jilin province’s public budget local fiscalrevenue is￥115.7billion. It is difficult to maintain the rapid expansion only onfinancial investment.In adapt to the national and regional economic strength,therefore, not overly increasing the government’s financial burden, how to planthe expressway construction, break through the bottleneck of funds, is thefocus of current research, and it is of great significance.In this article, it take Jilin Expressway Group for example to study on thisquestion.First of all, to analyze the financial statements of recent years by thedescriptive statistics analysis, made its capital structure and financing situationto clear, draw the conclusion that its financing planning is facing two majorproblems, one is funding gap is bigger, money must be low;Second, on the financing structure, the proportion of indirect financing is larger, the directfinancing ability is weak.Then, through learning and understanding themainstream financing theory, so as to analyze specific issues.Finally, based onthe related literature to sort, and combined with the actual situation of the JilinExpressway Group, find out the cause of the current financing problems,bottlenecks on endogenous financing,unreasonable planning on debtfinancing and lack of innovation, the financing channel was single and lack ofmarketization.For the cause of concrete, gives the corresponding solutionstrategy.This article takes two aspects on the financing strategies from thediscussion.First of all,to find solutions in the funding gap of expresswayconstruction, solve the problem of the current shortage of funds.At the sametime,draw up equity financing, debt financing, mixed financing tools, a varietyof ways to cooperate, integrate resources, broaden the financing channels, toactivate and improve the potential ability of Jilin Expressway Group’sexpressway construction financing.It has found that the Jilin ExpresswayGroup’s financing problem is not sole, across the country, there are moreexpressway enterprises have similar problems with it.Because of its similarproblem, cause similar, general features are similar, therefore, for this kind ofexpressway enterprises, aiming at Jilin Expressway Group financing strategyand planning has universality, also can be used as a reference.It is positive toclarify the current situation, respond country strategic layout, and actively putrepresented by " Belt and Road " infrastructure projects, especially under thenew situation of expressway construction.