Research On Financial Risk Management Of Local Government Investment And Financing Platform

After the international finance in 2008,China's local government investment and financing platform for the rapid development of both the effective implementation of the central macro policy;at the same time,for China to promote local economic development has opened up new channels of funds.With the continuous expansion of the size of the local government investment and financing platform,many problems have come to the central government has also caused a threat,making the central government promulgated the rectification of local government investment and financing platform views,the financial risk management problem has become social focus.This paper mainly includes the following contents: First,collect the various literatures related to the financial risk management of local government investment and financing platform,summarize the viewpoints,and elaborate the concept of fiscal decentralization theory,stakeholder theory and principal-agent theory respectively.Secondly,it summarizes the characteristics,types and operation modes of the local government investment and financing platform enterprises,and describes the current situation of the development of the local government investment and financing platform enterprises and finds out the various problems and the analysis of the problems.Focusing on cash flow risk,investment risk and financing risk analysis.Finally,based on the case of Ruili City Renlong Investment and Development Co.,Ltd.,the paper analyzes the main financial risk management problems in the way of graphs,and finally puts forward the corresponding countermeasures and suggestions.Through the research and analysis,this paper can draw the following conclusions: First,the local government investment and financing platform in the historical evolution,with special and historical,the initial establishment of the reason is to solve the financial crisis brought about by the financial risks,Government hub of investment and financing projects.Second,the establishment of local government investment and financing platform,both to broaden the investment and financing channels,active in the market transactions,but also to China's investment and financing market regulatory mechanism has been continuously improved.