解决国企债务须进行综合治理张成智负债经营是市场经济的普遍现象，不足为奇。企业要在激烈的市场竞争中生存发展，仅仅依靠自有资本及其积累是远远不够的，必然对社会资本提出要求。从理论上讲，当资产收益率大于借款利率时，企业资本金收益率应随着负债的上升而提高。但... Solving the problems of state-owned enterprises’ debts requires comprehensive management. Zhang Chengzhi’s debt management is a common phenomenon in the market economy. It is not surprising. Enterprises must survive and thrive in fierce market competition. It is far from enough to rely solely on their own capital and their accumulation. It is bound to demand social capital. In theory, when the return on assets is greater than the borrowing rate, the rate of return on capital of the enterprise should increase as the liability increases. but...