The Research Of Water Transport Infrastructure Financing Platform Transformation In China

As the national executor and implementer of financial policy, local government actively building water transport infrastructure finance platform to solve the problem of funds shortage and the results were significant. However, the platform can't maintain the current situation and have to make the transition, since an introduction of policy from the State Council that the government financing function will be removed from financing platform. There are many problems in the running process of water transport infrastructure financing platform. To achieve sustainable and healthy development of financing platform, meet the needs of water transportation construction and recognize and solve these problems, it's very important to discuss the transition strategies.This article chose the financing platform of water transport construction as the research abject. According to the related government policy and documents, selecting the Theory of Public Goods, the Theory of Fiscal Decentralization, the Item Division Theory as theoretical basis. It analyzes the financing platform from macro and micro economics at the same time. First, this article describes the definition of financing platform, summarizes the characteristics of water transport infrastructure funds and the main financing ways of infrastructure construction. By means of the description about the present situation of water transportation infrastructure financing platform to illustrate the business Status, ways to raise funds, use of funds and sources of payment of the platform. Then, it analyses the necessity of the transition of water transport infrastructure financing platform. Finally, through the way of theoretical research and empirical analysis, accurately analyze the outstanding problems in running process of water transport infrastructure financing platform such as organizational mechanism is imperfect, the narrow financing channel, low asset profitability, debt risk is high. This article designs the transformation plan. It promotes the transition of financing platform by designing the transformation path as digesting the stock of debt, clearing financing platform functions, building a modern corporate governance structure, adjusting business structure, expanding financing channels, and taking support measures as enhancing investment returns, establishing risk prevention system on the basis of clear goals and direction. Then it corroborates the problems and strategies by case analysis. This article propose some useful advices on how to promote the water transportation infrastructure financing platform transition, solving the outstanding problems existing in the operation, dissolving the risk in the proceeding. These measures would be conducive to the sustainable development and efficient operation of water transportation infrastructure financing platform. And also will be advantageous for financing platform in promoting the development of water transportation. Ultimately contributes to the construction of water transportation infrastructure in our country.