Abstract：Research purposes:In recent years，with china’s larger investment in infrastructure，domestic construction enterprises especially central government-owned enterprises have undergone a fast development period. The characteristics of lager investment，higher revenue，and sufficient competitiveness in the construction field request greater financing capacity for central government-owned enterprises. In order to raise the core competitiveness of central government-owned enterprises，this paper analyses the current condition of their financing practice，especially the external financing channel such as sustainable ticket，preference share，exchangeable bonds，and also the mode of PPP，TOD，and EPC+F+R. On this bases，this paper provides reference for the promotion of financing capacity so as to outbreak the “bottleneck" of financing.
Research conclusions:(1)The external financing channels such as bond financing, equity financing，credit financing， finance lease，and export credit are important financing platforms of solving the financing issues.(2)The innovative financing modes such as sustainable ticket，preference shares，exchange bonds will increase the equities and release the financial pressure of the enterprises，which could fulfill the long-term financing requirement for central government-owned enterprises.(3)The new modes including ECP+F，BT，BOT, TOD and PPP are efficient financing channels for promoting the investment and construction capacity of central government-owned construction enterprises in the field of large infrastructure projects.(4)The research result could be utilized to improve the financing capacity of central government-owned construction enterprises.
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2014, Vol. 31 
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