Based On KG Group's Research On The Transformation And Development Of Local Government Investment And Financing Platform

Along with the surge of the number of local government financing platform and liability scale,the great massive financial risks implied by that also causes extensive attention and concern of people.The local government financing platform has the problems such as nonstandard operation,legal effect deficiency of government guarantee,debt paying ability limitation,a large number of information asymmetry and moral hazard.State issued No.43 document and financial budget No.351 document carry out the scale control of local government debt and limit strictly the government borrowing procedure and the use of capital.The local government debt is incorporated into full-caliber budget management according categorization so as to realize the unification of “borrowing,using and returning”.The government investment and financing platform is not a simple enterprise.Since the organization and governance structure of it is very different from the ordinary enterprises,the way of transformation and development of existing investment and financing platform becomes a new thing and a new subject.How to search out a transformation and development road which is suitable for the situation of China and effective is currently an urgent problem for the government investment and financing platform.This is also the practical significance of the study in this thesis.This thesis introduces correlation theories of government investment and financing platform at first.Secondly,the development course and current situation of overall investment and financing platform is analyzed.In the meantime,the risks faced by investment and financing operation of enterprises are combined to conduct deep qualitative and quantitative analysis.And then,the key risks are concluded.On the basis of that,with the integration of practical working experience,this thesis proposes transformation and development strategy of government investment and financing platform.The relationship of the government and market needs to be teased according to positioning and function.Resource endowment is combined to explore the fields which are suitable for transformation and development.Thus,the market risk can be reduced.Finally,the above theories are carried into practical application in accordance with specific cases.The way of market operation management for platform enterprise is explored and the method to accelerate the carrying forward of rapid transformation path for government investment and financing platform enterprises is studied.This thesis will provide feasible management suggestions and implementation scheme for the development of KG Group from the perspectives of timeliness,applicability and practical applicability with the combination of the problems faced by KG Group.In the meantime,useful references would be provided for the transformation development of government investment and financing platform enterprises.