The Research In Financing Platforms For The Local Government In Chongqing

Financing platform for the local government in China are produced to be a peculiar product in our country's special national conditions and specific historical conditions with the characteristics of current financial and debt management system no being fundamentally changed, the administrative structure and local ownership still do not match, the transfer and payment system is still not perfect and local government is lack of alternative financing channels,local governments start to build the financing platform for the local government through breaking the funds bottlenecks of urban infrastructure and national restrictions on capital of local government debts of the legal obstacles for raising local economic and social development funds,and easing the local government task of pressure of providing local financial services and promoting local economic development, greatly contributed to the local infrastructure development and also played an important role in tackling the international financial crisis struck and promoting economic recovery process.Meanwhile,financing platform for the local government turn up some highly concerned about and being solved problems:the operational procedures are not rigorously normal and excessive borrowing from the business,jointly run the manage risk of itself, increase the risk of a scale of local government debts repayment rapidly, and the risk of mounting banking credit, etc..This article will have a research in financing platforms for the local government by taking the city of Chongqing for example.Using the methods of qualitative study and statistical analysis,this article make detailed discussions on the establishment,position and functions, the way of operation, sources of capital, capital structure and financing methods. And we admire a comprehensive knowledge and analysis of the current situation of the financing platform for the local government. On this basis,I think that the subsistent problems of financing platform for the local government not only from their present unmoral mode, but also are related to the tax-sharing reform,imperfect system of transfer and payment between central and local government, and imperfect debt management system. At present, I think the financing platform for the local government is the organic combination of the financial and banking investment, meets our current national conditions,and the profit outweighs the disadvantages.Therefore, the text develops targeted and comprehensive policy recommendations from the point of the central government, local government, banks and the financing platform for the local government, for the financing platform for the local government full playing the role in local government finance,meet the demand of local government finance,and effectively preventing risk of its own manage,bank credit, the local finance and system. With the basic system of the conditions improved gradually, the local government does not borrow money by the financing platform for the local government, and issues municipal bond directly.