目前,地铁公司普遍尚未意识到打造企业总体价值的重要性,企业总体发展战略欠清晰,重建设轻运营,重当前轻长远,重局部轻全局的现象较为普遍,地铁公司价值难以体现.立足地铁公司,从价值链视角分析地铁公司的价值活动,提出地铁公司应打造设计管理能力并强化其引领作用,同时通过综合运作投融资业务,以PPP模式推动产业合作,在建设及运营环节培育核心资源、盈利能力,推动业务规模化发展;在时机成熟时地铁公司应积极实施走出去战略,提升公司品牌价值,最终通过剥离优质资产实现IPO(initial public offerings,首次公开发行股票)上市,逐步实现整体上市.通过上述措施的相互协同,共同促进地铁公司的整体价值提升,促进地铁公司可持续发展.%At present,most metro corporations (MTRCs)have not yet realized the importance of building on the overall value of their corporations,having not set up a clear and integrated development strategy for the companies.They have attached importance to construction but have underrated operation;they have paid more attention to the present benefits but ignored the longterm effects;they have been focusing on local instead of international development.As a consequence,the value of MTRCs is difficult to be reflected.This article analyzed the value activities of MTRCs in terms of value chains.Results show that MTRCs should foster design management capabilities and strengthen the leading role of design management.In addition,investment and financing business should be used comprehensively.Public-private-partnership should be adopted to promote industrial cooperation.Core resources and profitability should be cultivated in construction and operation to promote the scale of business development.Besides,"rail transportation + property" is also needed to solve the financial problem.For MTRCs,"going global" strategy is necessary to enhance the brand value.Finally divestiture of high-quality assets can be adopted to achieve IPO.All these measures mentioned above constitute the fundamental mechanism of sustainable development of MTRCs.
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