资本运营是导致民企资金链断裂的结症(国外英语资料).doc

资本运营是导致民企资金链断裂的结症(国外英语资料) Any enterprise in order to high-speed development, and expand its strength, must be financing. The state-owned enterprises can be completed through the one-time investment of the state, and private enterprises only rely on their own, so private enterprises must have a very appropriate financing strategy. As economist Wu Jinglian said, financing difficulties have become the current bottleneck of the development of SMEs, Chinas small and medium-sized enterprises have not been able to become attached to the capital market. One is in the bank, and some financial institutions of private enterprises, especially small and medium-sized enterprises have psychological obstacles to credit, loans as soon as possible, no way! That small and medium-sized enterprises in working capital shortage, in desperation, forced the introduction of high cost capital. This not only restricts the development of small and medium-sized enterprises, but also increases the financial risk. Two is the high cost of financing. Chinas financial market development is not standardized, increasing the cost of enterprise development funds. Not only that, but in our country, both the indirect financing of bank credit or the direct financing of the securities market, mainly for the development of state-owned enterprises to provide services. Capital operation is the main means for enterprises to diversify their investment risks and diversify their management and diversification strategies. At present, the implementation of capital operation is an effective way for small and medium-sized private enterprises to expand financing channels, realize economies of scale, promote organizational and institutional innovation, and raise the level of management. The main ways of capital operation include enterprise merger and acquisition, stock system reform, intangible assets operation, powerful combination and strategic alliance. Private enterprises (private enterprises): Current situation of