G Financing Platform Company Debt Risk Management Research

In order to speed up the process of urbanization and industrialization,improve education,health and rural social security system,the local government establishes lots of financing platform companies borrowing large amounts of debt to support the increasing need of fiscal expenditure.The Premier Li Keqiang's government work report made it clear that "Regulate the debt financing mechanism and make the local government debt into the budget management could prevent and resolve local government debt risk".The "Budget law of People's Republic of China" and the "State Council on strengthening local government debt management advice" both proposed to increase the supervision of local government debt.As the main debt entities of the local government debt,it is particularly worth paying attention to the company's debt risk.This paper reviews the domestic and foreign research results on corporate debt financing platform of risk management,based on the concept of the financing platform,the purpose of debt risk,the mode of operation,evaluation and control of the debt,according to the theory of financing platform debt risk,I choose to use multilevel fuzzy comprehensive evaluation method for financing platform debt risk quantitative analysis and evaluation.Identify the factors influencing the financing platform debt risk from the macro,meso and micro three levels,combined with the actual operation of G financing platform company,consulting expert experience to construct the G financing platform debt risk evaluation index,using AHP and expert questionnaire method to calculate the weight of each index,constructs the fuzzy comprehensive evaluation of fuzzy matrix finally,using the expert scoring evaluation results obtained,and according to the evaluation results from the three aspects of national,local enterprises and the proposed debt risk management strategies.In this paper,G financing platform for the company as a case study,using fuzzy comprehensive evaluation method to evaluate the risk of its debt,the debt risk is a normal risk area,but still in the end low risk area,there is a certain debt risk.Judging from the weight of indicators,financing platform companies are more vulnerable to the impact of macro and meso factors,the company should pay more attention to such factors.From the specific scoring,G financing platform company macro level are more susceptible to the national GDP growth rate and the national fiscal and monetary policy tightness,effects of meso level susceptible region GDP growth,the company micro level asset liability ratio,mode of operation is reasonable and the local government support can bring substantial impact on debt the company.