Research On Optimization Of De-leverage Scheme In Iron And Steel Enterprises

Due to the central bank's continuous macroeconomic growth to stimulate monetary policy,the financing of some cyclical social enterprises in China has a downward phenomenon of excessively high debt leverage ratio.By the end of 2015,China's total social debt financing accumulated to 168.48 trillion yuan,and the annual social debt leverage ratio has reached 249%.Therefore,in 2016,general secretary xi once again put forward the new development strategy of promoting the three supply-side structural optimization reforms,and re-defined the reform priorities of "three cuts,one reduction and one supplement" this year's economic and social work priorities.The development of iron and steel enterprises is so important in China's national economic and social development,supports the rapid development of the entire national economy.These financing problems with high leverage ratio are not only directly related to the healthy development of real enterprises themselves,but also pose a great threat to the interests of upstream and downstream real enterprises and affect the healthy development of the whole Chinese real market economy.In this regard,in 2018,general secretary xi jinping once again clearly proposed to promote the three supply-side structural optimization reforms,and put forward new requirements for China's reform and development.In order to clear at the meeting,chairman of the positive and effective response to the acquisition of "deleveraging" target tasks,iron and steel enterprises respectively adopted various measures to reduce the asset-liability ratio of iron and steel corporation,sinosteel,as at present,China's current implementation of debts into shares first listed state-owned enterprises,the analysis and optimization of the scheme for other large iron and steel enterprises in China has a strong reference to promote the significance.So this article with sinosteel as a case,in order to better for the iron and steel enterprises with lower leverage as the main purpose,from the perspective of innovative policies thorough analysis and comprehensive research of various schemes,leverage policies of iron and steel enterprises in our country at present the application of some innovative,and constantly try to more effective solution,which is the currentdevelopment of China's iron and steel enterprises at present urgently needs to delve into a problem.This paper adopts the research method of combining cases and theories.On the one hand,it analyzes the current situation and causes of high leverage in the steel industry and puts forward the necessity of deleveraging.On the other hand,taking sinosteel as an example,this paper analyzes its deleveraging process and its existing deficiencies.Through analyzing the deficiencies in sinosteel's previous deleveraging plan,it optimizes the plan in combination with sinosteel's transformation and upgrading objectives,so as to better meet the enterprise deleveraging objectives,and puts forward some suggestions on deleveraging in the steel industry and other industries.