| From the "13th Five-Year Plan " in 2015 to achieve full coverage of financial risk supervision,to 2017,the State Council set up Jin Weijian,and then to the double-pillar financial supervision system formed after the two sessions in 2018.Under the new financial supervision framework,the state's prevention of financial systemic risks has been further strengthened,and the era of strict financial supervision has come.Thus,the trust loan financing model and accumulated debt risk formed by local government financing platform are difficult to maintain under the new supervision system.In the new period,the rapid progress of urbanization construction,increasing urban infrastructure construction and promoting the stability and sustained growth of urban sector economy will still be the key work direction of local the local government in the coming period,and the local government financing platform as the main financing body of the project construction will bear the indispensable responsibility.Therefore,how to promote the strategic transformation of local government financing platform under the background of strict financial supervision to meet the requirements of the new financial supervision system,and at the same time give play to the main effect of financing for urbanization construction,it is of great significance to the sustainable development of local government financing platform and to maintain the stable operation of the economy.This paper selects GZ municipal government financing platform as the specific research object,the company formerly known as GZ city trust investment company.Based on the theory of local government financing platform and strategic transformation,the paper analyzes the development status of the company,and finds that the main problems include: high asset-liability ratio,large debt risk;single financing channel,more concentrated risk;strong capital demand and limited financing ability of government investment projects;imperfect internal mechanism and problem mechanism,lack of independence,etc.Based on the analysis of the internal and external environment of the GZ financing platform company,the paper gives the overall idea and development goal,function orientation and main body support of the company's strategic transformation and development,and puts forward the design scheme of the strategic transformation.The overall framework of the strategic transformation of the GZ financing platform company is: to determine the four main industries and to change the mode of operation;the transformation focuseson: focusing on improving their credit level and qualification conditions,actively promoting collectivization transformation,and rationally solving the problem of stock debt and risk;the transformation path includes: the mechanism transformation with the establishment of modern governance structure and management system as the core,the transformation of the assets structure of the GZ financing platform company,the financing transformation of the GZ municipal financing platform and the transformation of the use and operation of state-owned capital of the GZ financing platform company.In addition,in order to ensure the smooth operation of the transformation system of government financing platform,the paper constructs the system guarantee measures of government financing platform transformation from four aspects: human resource guarantee,system construction guarantee,financial resource guarantee and enterprise culture guarantee.All in all,under the background of strict financial supervision,this paper studies the strategic transformation of GZ financing platform companies,which is not only an inevitable requirement for the development of the company,but also a major theoretical and practical topic that GZ the attention of local governments and related departments.At the same time,it can provide a meaningful reference for the current market-oriented transformation of other local government platform companies. |
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