Research On The Impact Of "Bank-enterprise Cooperation" On China’s Railway Construction Capital Management Policy

The occurrence of the global financial crisis has had a big impact on China’s economic development.Under such a background,the financing of state-owned enterprises is facing greater difficulties.In order to solve this problem,the four major commercial banks gave state-owned enterprises "low interest rate,long term,large amount" credit support to increase their external debt financing.This article takes China Railway Construction Corporation Limited(hereinafter referred to as China Railway Construction)as an example to analyze the impact of "bank-enterprise cooperation" on the capital management policy of state-owned enterprises.It is mainly elaborated from three aspects: analysis of the impact on the optimal capital structure of China Railway Construction,analysis of the capital risk of China Railway Construction,and analysis of the impact on corporate performance.The “China Railway Construction” cooperation has increased the proportion of corporate debt financing and changed the capital structure.However,due to the single structure of corporate financing,it relies too much on debt financing and does not constitute a financing portfolio,making it difficult to avoid market interest rate risk.The adverse impact of "Bank-Enterprise Cooperation" on "China Railway Construction" requires that China Railway Construction re-manage and manage the long-term capital after the "bank-enterprise cooperation" in a comprehensive manner,so as to better avoid long-term Capital risk,improve corporate income.It mainly puts forward policy recommendations from two aspects: improving capital efficiency management and capital risk manageent."China Railway Construction" should expand debt financing channels,appropriately expand equity financing,improve long-term capital structure,build a long-term capital portfolio with sufficient samples,and comprehensively manage and control long-term capital risks.Finally,in view of the impact of "bank-enterprise cooperation" on "China Railway Construction",policy recommendations are made for other state-owned enterprises in terms of "bank-enterprise cooperation".The research content of this paper is of certain generality to state-owned enterprises.Other enterprises have reference significance.