| The initial purpose of the local government financing platform company was to undertake some political functions for the local government,that is,to provide funds for the local public welfare projects like infrastructure construction,so as to promote local economic development.However,with the continuous development of the local economy,the expanding debt scale of local government financing platform companies has increased debt risks and increased the hidden expenditure burden of local governments.After the issuance of the China State Council [2014] Document [2014] No.43,policy documents were issued at different times from the central government to the local governments.The purpose is to require local government financing platform companies to no longer undertake the financing of infrastructure public welfare projects,and to strictly control the new local governments.Government debt,in this context,preventing and controlling the debt risk of local government financing platform companies has become a hot topic of discussion.This paper selects a representative financing platform M Group in a city in the southwest,and conducts a case analysis.The purpose is to analyze and summarize the performance and formation reasons of the debt risks of M Group,which are very representative,and also provide information for other local governments of the same type.Financing platforms provide ideas for addressing debt risks.In the process of case analysis,take advantage of my own job opportunities to know the M Group by consulting and collecting M Group’s financial statements,operating data,management documents,meeting minutes,resolutions on three major issues,etc.The company compares with the top platform companies in the same city,and finally conducts quantitative and qualitative analysis on the M group company,and summarizes the M group company’s debt risk.Then,through the case analysis,it puts forward suggestions for debt resolution of local government financing platform companies. |
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