中文摘要：

当前,国际上越来越多的军工企业利用资本市场实现跨越式发展。但在我国,资本市场在军工企业发展中的重要作用尚未充分发挥。本文重点分析了我国军工企业股权融资和债权融资的现状,以及存在的突出问题：投融资体制改革相对滞后、缺乏有效推进军工企业投资主体多元化的管理机制、未能充分利用多层次的资本市场、资金利用效率低下、政策法规缺乏可操作性,等等。围绕上述问题,结合一些国家军工企业融资模式及特点,提出了我国构建军工企业市场化融资体系的政策建议。

英文摘要：

At present, more and more international military enterprises to use the capital market by leaps and bounds. But the vital role of the capital market development in China in the military business is still not fully realized. This paper reviews the current common enterprise financing, analyzes the current situation of military enterprises equity financing and debt financing in our country, as well as outstanding issues： investment and financing system is lagging behind, the lack of effective military enterprises to promote investment diversification and management mechanism, failed to take full advantage of multi-level capital market, inefficient use of funds, lack of policies and regulations maneuver ability. On the issues, with a number of countries and military enterprises financing model, it proposed policy recommendations to build military enterprises market-based financing system.