The Scheme Design For Shanxi Provincial Capital Investment Company To Carry Out Guarantee Business

Local government investment and financing platform refers to the local governments at all levels through the allocation of land,other assets and other companies with financing as the main business purpose of the company,including different types of urban construction investment,urban construction development and other enterprises and institutions,mainly based on operating income,public facilities charges and financial funds as sources of repayment.The emergence of urban investment company has a specific background,since its establishment,it has assumed the function of financing for the government.The initial loans of the platform mainly came from the National Development Bank.In 2008,China implemented the 4 trillion fiscal policy,and commercial banks joined one after another.In the financing process of the City Investment Company,the local government shall bear the financial burden.Guarantee or issue "comfort letter" and "commitment letter" as repayment promises,put the loan into the fund pool,allocate the funds according to different projects,and issue bonds later become an important way for the city investment company to carry on the financing.Investment and financing platform external large-scale financing,increased the financial invisible burden.In recent years,the state strictly prevents and controls the local government debt risk,divest the financing platform for the government financing function.The State Council and the Ministry of Finance have issued documents strictly prohibiting local governments from providing guarantees in violation of the law and increasing local hidden debt through the purchase of services and other forms of disguised financing.However,the city investment company undertakes the function of urban infrastructure construction and needs big rules.Model financing,in the financing often need to seek guarantor to increase its credit.This paper combs the development course of the government investment and financing platform and the financing predicament at present,then analyzes the present situation of the guarantee market in our country,and studies and draws lessons from the relatively mature guarantee mode at home and abroad.Taking Shaanxi Province as an example,this paper analyzes the feasibility of setting up the guarantee group of the city investment company,on this basis,constructs the financing guarantee system according to the specific situation of Shaanxi Province,introduces the city investment company to increase the capital and expand the shares to form the guarantee group on the basis of the existing financing guarantee organization,and designs the shareholder selection,businessoperation,business process and other aspects of the guarantee group,forming the guarantee group as the leader and the city investment company as the link.At last,the price of the guarantee business rate is analyzed by the method of physical option.The purpose of this paper is to solve the problem of lack of financing guarantee in the current policy environment.Through the design scheme of this paper,the CITIC Company is incorporated into the financing guarantee system,solves the problem,perfect the financing guarantee system,which is theoretically feasible,which can provide a new perspective for the construction of the financing guarantee system in each province.