| Local government financing platform is set up by local government through financial allocation or land injection, undertaking the function of financing and project construction, plays a decisive role in the process of China’s urbanization. For shortage of financial funds, the financing platform need to raise funds for infrastructure construction, public utilities construction and public service supply. At present, the main loan of our government financing platform is from traditional financial institutions like bank and trust, the mode of financing is single and local government credit is added to the loan, causing the rapid expansion of local government debt. The promulgation of the new budget law and the " No. 43" and other combined boxing policy in 2014, gives rights for local governments to issuing bonds, in stead, local government financing platform is required to peel off government functions, and how to change the mode of financing to meet the funding needs of the local government project construction,after lost the endorsement of government credit and the financial support, will be a major challenge for the future development.Based on the theory of public goods, the theory of financial decentralization, local competition theory and the theory of corporate life cycle, this paper sort out the financing platform of local government financing platform. Taking QZ government financing platform as the research object, through analysing past financing model of the government financing platform, revealing the single traditional financing channel and the successful experience of domestic and foreign local government financing platform, this paper constructs suitable financing mode on type of construction project classification, proposed that, by establishing standard of local government financing platform, actively exploring diversified financing mode, broading platform financing channels, to improving the sustainability of QZ local government financing platform financing pattern. |
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