最近,我们到福建、广东两省五市对政府经济部门和10家企业进行了考察。企业资本结构的现状和特点一、国有企业靠高额负债经营承担巨大的利息负担,使部分企业处境困难。五个城市国有工业及国有控股企业的净资产在全市工业资产中的比重都很小(福州12.3%、厦门14.1%、广州37%、佛山9.8%、深圳10%),即便老工业城市广州的国有净资产比重较大一些,但其资产中也有相当大部分是靠贷款、土地增值及优惠政策形成的,国家直接投入的资本金也不大。国有企业多处于高负债经营之中。1995年各城市的资产负债率均 Recently, we visited the government economic departments and 10 companies in Fujian and Guangdong provinces and five cities. The status quo and characteristics of corporate capital structure 1. State-owned enterprises rely on high-liability operations to bear a huge burden of interest, which makes some enterprises difficult. The net assets of the state-owned and state-controlled enterprises in the five cities are small in the city’s industrial assets (12.3% in Fuzhou, 14.1% in Xiamen, 37% in Guangzhou, 9.8% in Foshan, and 10% in Shenzhen), even though the old industrial city of Guangzhou The proportion of state-owned net assets is relatively large, but a large part of its assets is also formed by loans, land appreciation, and preferential policies. The capital invested directly by the state is not large either. State-owned enterprises are mostly in high debt management. In 1995, the asset-liability ratios of all cities were