Research On The Development Of Local Government Investment And Financing Platform In Kunming

The investment and financing platform is a kind of implicit fiscal deficit, is a local government and its departments and agencies through funding or injection of landassets such as shares, set up, bear the function of financing of government investment projects, and have independent legal personality of the economic entity. In recent years, the local government financing platform in the process of rapid development there are also some problems need attention, such as debt financing scale over expansion, investment operation is not standard, local government regulations or in the provision of guaranty, especially the investment and financingplatform too fast increase scale long debt, not only increase the safety quality the risk of debt and bank credit system, exacerbated by local finance, financial andmacroeconomic risk, affect the overall economic sustainable and healthy operation and development. Kunming city investment and financing platform for investment and financing system reform, compliance with the Kunming current economic and social development, whether can achieve the basic commercial transformation and market operation, forming a virtuous cycle of investment and financing of infrastructure construction, is a question worth considering.This paper mainly consists of6parts. The first part is the introduction, mainlyintroduces the reason and significance of the research, and the research results at home and abroad are reviewed. The second part is the present situation of domestic and foreign investment and financing mode, financing mode of Germany, USA, Japan,and Shanghai, Chongqing, China Guangdong Investment and financing mode to explore and research. The third part is the history of a financing platform of KunmingCity, and two of the investment and financing system reform, and gives the affirmation to the development process in the investment and financing platform effect. The fourth part puts forward the current Kunming city investment and financing platform inscale, financing, debt, investment and management issues. The fifth part is to solve the problem of analysis of reasons, mainly from the government decision-making mechanism, management mechanism, as well as the investment and financingplatform management mechanism and the internal cause, the state macro-control policies, the development stage and background of external causes. Put forward the countermeasures and suggestions of promoting the Kunming city investment and financing platform for the transformation and development of the sixth part, the main proposals from the government decision-making and management mechanism,management system and how to become bigger and stronger investment and financing platform.