Study On Problem Analysis And Transformation Development Of Local Government Financing Platforms

The emergence and development of local government financing platforms have alleviated the financial pressure on urbanization construction,reduced regional financial risks,and promoted the growth of local economy,especially made contributes to the development of people's livelihood and public welfare undertakings.Has a vital status.However,due to the lack of modern enterprise governance system,inadequate management system,weak operational capability,and low operating effectiveness,local government financing platforms are facing increasing risks.Local governments are inextricably linked with the financing platforms they built,and the platforms are important roles in the regional financial system,risks are easily transferred to local governments,banks and other financial institutions,threatening the local economy.It is imperative for local government financing platforms to have effective reform.This thesis selects A platform as research object,finding out the problems existing in platform A prudentially.And provides a practical direction of transformation development to better help A deal with the difficulties,striving to become a comprehensive city operator with large-scale assets,high level of specialization,significant market influence,and giving consideration to both social benefits and selfdevelopment.Literature reference research,case logic reasoning,financial data analysis and other methods are used in the thesis.Firstly,basing on the theory of Public Goods,Fiscal Decentralization,the research status at home and abroad is summarized.Then it introduces the basic situation of A platform company from management system,financial structure,financial quality,debt situation,financing channels,and other aspects.Then it analyzes the internal and external environment A faced.Finally,further explores A 's problem,and puts forward specific implementation points for A's transformation,providing references for other local government platforms.Trying to find out further explore ways and measures for the platforms' transformation developments,broadening the ways for the local government financing platforms,and providing implementation recommendations for their reforms and transformations.Through combing,it is proposed that the transformation development strategy of A platform company is,a)to realize the transformation of management system by perfecting the corporate governance structure,and establishing a professional talent expert library;b)to achieve institutional transformation by matching public welfare and marketization,dividing state-owned capital to operation and investment company,promoting mixed ownership reform;c)to attain financing channel transformation by asset backed securitization,innovative bonds.d)to obtain business transformation by separating business of government and enterprise,adhering to market-oriented development,expanding business scopes,creating cash inflows,revitalizing existing assets,resolving stock debts,etc.