Research On The Transformation Development Of Local Government Investment And Financing Platform

In recent years,the investment and financing platforms of local governments have made important contributions to the development and construction of local cities in China.In order to alleviate the hidden debt risks of local governments caused by platform financing,relevant departments of the state have comprehensively strengthened the standardized management of local government debt and investment and financing platforms,making the transformation and reform of investment and financing platforms an inevitable trend in the current period.This paper takes F Investment and Development Group in Anhui province as an example,from the government management,debt and financing,investment management,internal management four aspects of investment and financing platform,we deeply analyzed the existing problems,draw lessons from the transformation of other investment and financing platform practice experience,puts forward the transformation development strategy of investment and financing platform which based on F group,so that it can continue to play an important role in the local economic and social development.Through analysis,this paper finds that the local government has problems on F investment and development group such as inaccurate positioning,lack of overall planning for financing management,lack of institutional constraints for project construction,and single source of debt repayment.For F group,in terms of debt and financing,problem such as large scale of debt,high risk,financing is single,financing difficulties;in terms of investment management of F group,problem such as assets operation efficiency is low and less benefit,high investment risk,asset quality is low;in terms of internal management,problem such as relations with the government is not clear,institutional rigidity,lack of professional talents.In view of the above problems,this paper takes F investment and development group as an example to propose the countermeasures for the transformation and development of local government investment and financing platform.First of all,the local government should loosen the management of the investment and financing platform,separate the government from the enterprise,maintain its dominant position in the market,strongly promote debt resolution,and increase the injection of high-quality assets and policy guidance and support.Secondly,in terms of debt and financing,the investment and financing platform should actively dissolve existing debt,reduce debt risk,integrate asset resources and expand market-oriented financing channels.In terms ofinvestment and operation,we should strengthen existing businesses,develop new businesses,enhance business profitability,actively introduce strategic investors,improve operational efficiency,and undertake government projects in compliance with the premise of not adding hidden government debts.In terms of internal management,we should improve corporate governance,strengthen risk control,conduct classified management assessment on subsidiaries,promote personnel reform,introduce professional managers and strengthen the talent team.Through comprehensive measures,we hope to accelerate the market-oriented transformation of F investment and development group,so that it can continue to contribute to the economic and social development of local city.