Discussion On Financing Countermeasures Of Chinese Traditional Medicine Enterprises In Bozhou Under The Background Of Financial Deleveraging

After the rapid development of China’s economy,the leverage ratio of the financial sector greatly increased,which seriously threatened the stability of the financial system.In order to prevent financial risks and enhance the ability of financial service spanning the real economy,the central government proposed to carry out the deleveraging work in the financial sector.The benefits of financial deleveraging will take a long time to emerge.However,in the short term,the policy of deleverage has brought negative impact on the real economy financing environment.On the one hand,the contraction of bank credit has hurt the debt financing channels of enterprises,especially the small ones.On the other hand,the financing cost of the real economy has increased due to the shortage of funds in the short-term market causing by financial deleveraging.In addition,the financial sector deleveraging has forced the enterprise sector to deleverage and improve its capital structure.This paper chooses Chinese traditional medicine enterprises in Bozhou as the pointcut to explore the real economy financing strategy under the background of financial deleveraging.In the study,the financing situation,characteristics of enterprises and local economic and cultural factors are all taken into account.This paper probes into the financing strategies of Chinese traditional medicine enterprises in the context of financial deleveraging.In order to solve the financing problems of local pharmaceutical enterprises,the research also provides ideas and methods for the study in financing strategy of certain industries in specific regions in the future,which is of dual significance in theory and reality.In the investigation,we find that the Chinese traditional medicine enterprises in Bozhou have many financing problems,such as high asset-liability ratio,financing difficulties,reliance on bank credit,large capital gap,etc.In the context of financial deleveraging,the financing environment of these enterprises will deteriorate further in the short term.It will be more difficult for these companies to obtain bank credit.And their cost on financing will raise greatly.For local pharmaceutical companies,it is urgent to reduce the asset-liability ratio,prevent financial and operational risks,build a diversified financing structure,and alleviate the financing pressure.Based on the characteristics of internal operation and assets composition of Chinese traditional medicine enterprises and the conditions of external financing environment,this study puts forward specific measures that can be implemented from three levels,namely,enterprises themselves,financial institutions and government departments.These measures are to build diversified financing structure of Bozhou Chinese medicine enterprises,so as to help these enterprises finally achieve the transformation of financing mode under the background of financial deleveraging.