Research On The Transformation Of Urban Investment Financing Platform Companies Of District And County Governments

The reform and transformation is the most concerned and urgent problem to be solved by government investment and financing platforms in recent years.It is also the necessary condition for local governments to resolve their invisible debt and maintain their credit.Due to the lack of effective resources and the disparity of comprehensive strength,the existing debt of urban investment financing platform at district and county level is heavy,and the construction fund gap is large.The reform and transformation has been difficult,and even seriously restricted the local social and economic development.Therefore,through the in-depth analysis of the high debt ratio and financing difficulties of the financing platform,we must clarify the main reasons for the formation of the debt and the crux of the financing difficulties,and explore innovative ways to resolve the debt.Through analysis,this paper finds that,different from the strength of provincial and municipal platform companies,district and county level financing platform companies in the process of transformation have low operating income due to low asset value,poor payment collection due to weak government payment ability,which affects the overall operating income,and makes it difficult to introduce social capital,and financing channels such as narrow financing channels,narrow financing channels,and so on The weak market-oriented financing ability and other problems have become increasingly prominent.In this study,the following conclusions are drawn for the transformation of district and county-level financing platform: first,the overall idea should be clear,and efforts should be made to build operational capacity.Based on the market-oriented transformation of platform companies at the present stage and the requirements of deepening the reform of state-owned assets and enterprises,district and county level urban investment platform companies should not only continue to perform government functions and help the government improve the provision of public services,but also improve their own defects to achieve sustainable development.We need to combine the local resource planning and the enterprise’s own comprehensive ability to improve the operational business management ability and enhance the core competitiveness.The market-oriented transformation is imperative.We need to explore more advantageous industries through diversified business transformation and re allocation of resources,build a business management team or specialized subsidiary with certain market competitiveness,further find areas that can support the healthy development of enterprises in the future development of advantageous businesses,and centralize the allocation of resources to improve the management level,Enhance the internal driving force of sustainable development of enterprises.The second is to improve the financing ability and provide the guarantee of capital demand.With the acceleration of new urbanization,there is still a large demand for funds for district and county level urban investment.On the one hand,local governments need a lot of financial support in supporting urban infrastructure and public service provision,and district and county level urban investment can only undertake projects under the new market-oriented investment and financing system;On the other hand,with the development of market-oriented transformation and the promotion of operating business,it is necessary to reallocate the overall resources.In order to further optimize the enterprise pattern and the needs of business development,the demand for funds is also very urgent.Therefore,the key to the transformation of district and county level urban investment is not only to forge its own comprehensive strength,but also to improve its financing ability as soon as possible,dissolve the existing debt,expand and strengthen assets,and meet the capital needs of enterprises.