Study On The Development Of Local Government Investment And Financing Platform

The local government financing platform company is China’s economic reform and the product of urbanization. In recent years, with the deepening of the global economic integration, China’s economic development is not by the influence of the global economic turmoil. In2008, there was a worldwide economic crisis, in response to the crisis, the Chinese government timely put forward the positive fiscal policy and the moderately easy monetary policy, and issued a economic stimulus4trillion investment plan, in order to make up for supporting construction funds gap, each district have a local government investment and financing platform, as the local government implement regulation as an important carrier of the policy. By the end of2009, the national city investment and financing platform has reached thousands of home. This group have asset scale of more than11trillion, or of the country’s total GDP one-third (2009national GDP for33.5trillion yuan). Meanwhile, the total liabilities scale, the only bank loans (not including city for debt) to reach an astonishing7trillion. Objectively speaking, the local government financing platform in dealing with financial crisis, to promote China’s urbanization is derived, etc. But with some at the same time, the high debt back, business management is not standard, low operation efficiency, the problem of restricts the development of the organization, and led directly to June10,2010the state council on strengthening the local government financing platform company management of the relevant questions of the circular (guo fa [2010]19) come on stage, to the local governments at all levels across the country put forward the financing platform classification cleaning, regulating the operation requirements.As the Greek European countries such as sovereign debt crisis, people also turned to look the domestic local government debt risk problem, local government financing platform so by the unprecedented attention, to the Chinese characteristics of the organization of the various comments and views centralized appeared in each big media, conferences and experts in the writings, which occupy the vast majority of criticism. Since the author place unit is local government platform company, as a practical workers, and most of the experts and scholars have the attitude of criticism quite on the contrary, I thought that the local government financing platform in to the present China has the rationality of the existence of it in stimulating local economic development, to promote China’s urbanization has irreplaceable role, can not take simple,"one size fits all" approach to treat. However, there is no denying the fact that financing platform company want to develop healthily, the most urgent problem to be solved is how to development, the problem of what direction. Therefore, in this context, the local government financing platform development as the selection of this paper, it can be said that not only has theoretic meaning, but also has practical significance.This article altogether divides into seven parts:The first part, introduction. Mainly expounds the background of topic selection, and puts forward to the research question, explaining the problem of practical significance, review the existing research situation, introduced this topic research thinking, reasoning methods.The second part, related concepts and theoretical review. This part mainly introduces the concept of local government financing platform, the tax in our country the financial system and the local government financing platform existing relationship, our country’s urbanization and the rise of urban management concept, and urban infrastructure construction financing related theory, etc.The third part, the local government financing platform development and present situation of the analysis. This chapter of our country at present the local government financing platform in promoting local economic and social development, especially in promoting the role of urban construction objective evaluation.The fourth part, according to the study, to the present domestic city cast kind of company’s main development mode and stage of development proposed own viewpoint.The fifth part, specific to P city cast as a sample, the facing opportunity and challenge to carry on the analysis, thus for the next part of the development problems in study to lay the foundation.The sixth part, resolve P city cast trouble, exploring the road of development. From the city for the company’s strategic positioning, business structure and tectonic function positioning, strategic development step, strategic development key success factors, business development strategy proposed own viewpoint.The seventh part, conclusion and prospect. Finally, the text make a substantive summary.