The Research On The Financing Strategy Of China Southern Locomotive And Rolling Stock Industry Group

China Southern Locomotive and Rolling Stock Industry Group (shorted for CSR) is a company producing transport equipments. Due to the lack of a clear and specific financing strategy, CSR meets with many problems and obstacles during financing process. This has seriously constrained CSR’s long-term development. Furthermore, in terms of CSR’s own development goals, or for the development of the industry perspective, a scientific financing strategy can avoid financial crisis brought by the rapid development of CSR. Therefore, the study of CSR’s financing strategy will contribute to the sustainable development of CSR. It is an useful exploration to scientific outlook on development, and a certain referential significance for the other listed companies.This paper introduces the classic theories and researches funding at home and abroad. It uses case study approach and obtains a variety of enterprise data and information by survey and historical review. Basing on the classical finance theory, it analysis problems in CSR’s financing activities and their causes, and puts forward the financing principles. Compared with the financing strategy of CNR, developed a financing strategy which meet with the actual situation of CSR. And puts forward some feasible suggestions on the implementation of the specific financing strategies.The final conclusion is that, in equity financing aspect, CSR should strive for the state capital operating budget, build a reasonable financing platform, invigorate the stock assets, sell capitals to financing, carry out mergers and acquisitions actively; in debt financing aspect, CSR should balance the proportion of short-term financing and long-term financing, the quota of equity financing and debt financing.