| As the world’s second largest economy,China’s economy has achieved sustained and healthy development in recent years.The infrastructure construction in all parts of the country has grown by leaps and bounds.The contribution of local investment and financing platforms to local economic development is particularly important.After the financial crisis in 2008,the central government of our country issued a 4 trillion economic plan to cope with the negative impact brought about by the crisis in order to seek domestic demand and minimize the damage of the financial crisis to our economy.With the encouragement of the central government,the local investment and financing platform that assumes the functions of local government investment and financing has been blowout-style.In a few short years,the local government investment and financing platform has grown wildly,and the number has rapidly expanded,playing a positive role in many aspects such as China’s infrastructure construction,production and service of public products,and safeguarding and improving people’s livelihood.At the same time,local government investment and financing platforms also have many problems,such as: high debt,imperfect corporate governance structure,narrow financing channels,weak solvency,etc.,especially in the “congenitally deficient” Midwest region,local government investment and financing platform The dilemma faced is even more severe.Transformation and development are the only way to continue serving the community.China’s regional economic development is quite different.Local investment and financing platforms also have different characteristics.This article is based on the investment and financing platform of the MC county government,which is located in the undeveloped areas in the central part of China,and conducts case studies on its transformation and development.This article first introduces the case of the transformation and development of the investment and financing platform of the MC county government: it describes the basic situation of the parent company,and analyzes the MC county investment group from five aspects: the operating mechanism,the asset structure,the financing structure,the financing channels,and the debt repayment mechanism.The inevitability of its transformation and development,and an analysis of its transformation and development path.Secondly,it summed up the MC county government investment and financing platform after the transformation made remarkable achievements,such as: 1.Clear their own main body status,based on independent and independent operation.2.Expansion of financing channels to obtain more external funds through project financing and issuance of bonds.3.The talent system is more complete.The management of the company’s management team and the following employees all adopt social uniform recruitment and implement a responsibility system.4.Through the integration of various quality resources,the allocation of resources is more optimized.5.The group companies have diversified their operations and their management synergy has been enhanced and their efficiency has been improved.However,after the transformation of the investment and financing platform of the MC county government,there are still some problems that need to be resolved.1.The promotion of marketization is not enough,and there may be a failure of the check-and-balance mechanism between the board of directors and the board of supervisors.2.The financing method is not flexible.Although the group company expands its financing channels,it still adopts more traditional financing methods.Next,this article proposes corresponding countermeasures for these deficiencies.Then,this article summarizes the successful experience of the transformation and development of the MC county government investment and financing platform,and hopes to give a good reference for other investment and financing platforms in underdeveloped areas in the central and western regions.Finally,the prospects for the future development of the investment and financing platform for the MC county government are forecasted. |
