Research On Risk Management Of CDX Financing Platform Company

In 2008,central government launched 4 tillion economical stimulation schemes,under this background local governments actively build local financing platform companies.In late 2010,national local government financing platform companies broke through 10,000.However because of imperfect corporate governance structure,irregular operation,high debt ratio and lack of operating income,the risk of platform becomes prominent.This paper selects CDX government financing platform company of Chengdu X district of western economic center as research object and makes fuzzy comprehensive analysis on various risks in government financing platform corporation.Some suggestions are put forward to solve the risks of local government financing platform companies and promote market transformation of companies which can effectively identify and evaluate risk status of county government financing platform companies effectively.It has certain reference meaning to promote risk management and transformation development of county government platform companies in central and western regions of China.Firstly this paper discusses the background and significance of risk management of local government financing platform companies and proposes research ideas and summarizes relevant research situation at home and abroad briefly.It elaborates in detail government financing theory,risk management theory and related theories and so on and discusses related theories tools such as analytic hierarchy process Delphi method etc.Secondly,this paper combines empirical analysis of CDX company operating status in Chengdu city district.Then,referring to others' research achievements,the author identifies the potential risk factors in CDX company from four aspects: policy risk,management risk,investment risk and financing risk.risk inventory method is used to combine them with "guidelines for the overall risk management of the central state owned enterprises" to establish risk index system of risk index and risk index of 10 secondary indexes and 24 three levels indexes in 4 categories of policy risk.Finally,the author utilizes fuzzy comprehensive evaluation method to evaluate the risk level.The results show that the risks are so severe to take corresponding measures to control risks.Meanwhile this paper puts forward countermeasures against CDX company risk.