如何降低国有企业的高负债率？沈莹，牟岩国有企业三角债屡清屡增，到１９９５年６月底比１９９４年同期增２０％，巨大规模的债务链如何剪断？国有企业资本金不足问题如何解决？德国托管局以联邦政府为后盾发行特种债券．利用短期金融工具融资，他们的做法很值得我们研究... How to reduce the high debt ratio of state-owned enterprises? Shen Ying and Xi Yan’s State-Owned Enterprise Triangular Debt Repeatedly Increased. It increased by 20% compared to the same period in 1994 at the end of June 1995. How did the huge-scale debt chain be cut off? How to solve the problem of insufficient state-owned capital? The German Custody Bureau issues special bonds backed by the federal government. Using short-term financial instruments for financing, their approach is worth our research...