Research On Market Transition Of County Level Government Investment And Financing Platform

The local government investment and financing platform companies,which seem to be market-oriented enterprises,in fact,have been in the state of "only financing construction and no actual return" since its establishment.Not only does it have no hematopoietic function,but it has also been losing blood,and the potential risks are increasing.In recent years,the state has continuously issued laws and regulations and some normative documents,which require the stripping of the government financing function of the platform company to speed up the market transformation of the platform company.The county level government is the most basic organization in China,and its transformation is particularly critical.Therefore,it is of great practical significance to study the transformation and development of the investment and financing platform of the county level government in the analysis area,and how to prevent and resolve the risk of local government debt in China.Starting from the comparison of the domestic and foreign government investment and financing system,this paper analyzes the origin,the development path and the main mode of the government investment and financing platform in detail.Secondly,focusing on the F District of H city in a certain province of Southeast China,this paper analyzes the system of investment and financing platform,management framework,management mode and main financing tools of the F district government,and summarizes the main financing tools.The main problems of the market-oriented transformation of the government investment and financing platform;finally,based on the above conclusions,this paper puts forward the reform direction and suggestions of the F district government investment and financing platform.The possible innovations of this paper are: Taking the F area as the sample,we put forward that we must properly handle the stock debt of the investment and financing platform,and then carry out a series of reform measures on this basis.According to the requirements,the value of state-owned assets can be displayed to the maximum limit,and the state-owned enterprise platform is injected into the enterprise platform according to the relevant regulations.The advantages and disadvantages of the investment and financing platform should be fully recognized,and the construction and operation of the urban public infrastructure and services are transformed into urban public service,infrastructure construction and operation(including PPP)and land.Market operators who organize and develop the four industries of financial real estate investment: This paper also puts forward suggestions for institutional and mechanism innovation.It has theoretical innovation and reference value for the next stage of market transformation of district and county government investment and financing platform.