Research On Risk Assessment Of Government Financing Platform In Uncertain Conditions

In recent years, local government financing platforms (here and after referred to as the "financing platforms") raise funds to strengthen infrastructure constructions through bank loans, bonds, and other aspects of market financing for the development of local economy and society. Also the financing platforms can strengthen infrastructure constructions, promote people’s livelihood and other areas. The rapid development has played an indelible role to some extent eased the impact of the international financial crises on China’s economy and society. Although, there are some urgent problems of financing platform should be paid attention to in the development process of varying degrees, as everything has its two sides. After 2009, with the rapid expansion of financing platforms, the risks gradually exposed, and could cause financial risks, which aroused lots of attention of society and the governments.Current researches of financing platforms risk are mostly from macro aspects with qualitative analysis. The unique of this paper is revealing the intrinsic link between financing quantitative assessment of risks of platforms by establishing multi sides dynamic model with incomplete information; and suggesting improvements of financing forms by using comprehensive fuzzy theories to quantitate assessment of risks.The paper is structured with six chapters. The first chapter is the instruction of this paper, introducing the analysis methods, background of researches, and elaborated innovations of this paper. The second chapter is about the recent status of financing platforms and the developing operation management. The third chapter analyzes the relationship between the central government, the local government, and platforms and financial institutions; and also establishes risk assessment model.The forth chapter integrates comprehensive fuzzy evaluation method, and establishes quantitative risk assessment model of financing platforms. The fifth chapter states several examples to proof this model. The sixth chapter concludes this paper and states outlooks of the future of financing platforms.