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发展合资铁路是铁路建设的重要途径,也是铁路投资主体多元化的重要实现形式。文章阐述了合资铁路投入运营中存在的资本金比例较低、融资方式单一、债务负担过重、企业亏损较多等问题;提出合资铁路的融资方式应坚持内源融资为主,外源融资为辅的原则,实行政府主导、多元化投资、市场化运作的模式。在提高注册资本金的同时,通过政府的引导、铁路体制的改革,吸引更多的战略投资者投资合资铁路。并通过创新拓宽融资渠道,吸收更多的社会资金,以缓解合资铁路资金短缺的现状,从而减少融资费用,降低企业成本,增加企业效益,实现合资铁路的跨越式发展。
The development of joint-venture railways is an important way for railway construction and an important realization form for the diversification of railway investment entities. This article elaborates the problems such as the low proportion of capital in the operation of joint-venture railways, the single mode of financing, the overburden of debt and the loss of enterprises. It is suggested that the financing mode of joint-venture railways should be mainly internal financing and the external financing should be Auxiliary principles, the implementation of government-led, diversified investment, market-oriented mode of operation. While raising the registered capital, through the guidance of the government and the reform of the railway system, more strategic investors are attracted to invest in joint-venture railways. And broaden the financing channels through innovation to absorb more social funds to ease the current shortage of funds in joint-venture railways, thereby reducing financing costs, reducing the cost of enterprises, increasing the efficiency of enterprises and realizing the leap-forward development of joint-venture railways.