In this paper, based on the ICM theory, taking the cash management innovation process of CNPC as the research object, we analyze the mechanism of system innovation, process innovation and IT innovation in details, and make empirical study on from the perspectives of system a-symmetry, financing constraint, financing cost and capital transmission efficiency. The results indicate that the innovation and integration of system, process and IT improves ICM economic consequences and solves the current internal capital problem of Chinese groups.%以内部资本市场理论为基础,以中石油集团资金结算模式创新3个阶段为研究对象,从制度、流程和信息技术的创新及融合来详细分析每个阶段的作用机制,并从信息不对称、融资约束、交易成本和资金传导效率几个角度进行数据验证.结果表明,从制度、流程和信息技术应用3个方面对资金结算模式不断创新和融合有效地改善了内部资本市场经济后果.
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