Study On The Financing Structure Of Highway Enterprises In China

In the new economic normality of China, Current expressway network is in an important period of comprehensive construction and improvement and high performance integrated transportation system construction. The financing problems of highway enterprises are the most important factor of the financing quality and stability. Using qualitative and quantitative analysis methods and based on the literature review, This paper studies the financing problem of China Expressway enterprise.The results show that, there is debt scale high and high cost of financing and investment and low efficiency of financing problems in Chinese Expressway enterprises. The main reasons for these problems are the tax heavy burden, and financial soft constraints, and lag of short-term bond financing development, and the imperfect listing Corporation governance structure in highway enterprise etc.Finally, based on the main reference to optimize the financing structure, of industrialized countries highway enterprise experience, some countermeasures and suggestions of structure optimization China Expressway Financing is put forward: reducing the tax burden of enterprises, and increasing the financial capital and the central bond capital investment of Expressway enterprises than weight; stable bank lending channel, appropriate to expand the scale of equity financing; improve of the efficiency of equity financing and the Enterprise Inc governance; actively explore modern financing way of PPP and BOT.