Research On Optimization Of Financing Model Of Industrial Investment Group In Nanjing J New District

China's local government financing platform is a product of China's economic development,social progress,urbanization and other special national conditions,and has made great contributions to accelerating the construction of local urban infrastructure,demolition,and resettlement housing.It not only solves the problem of insufficient local government funds,but also promotes local economic construction.In recent years,with the continuous development and expansion of local government financing platforms,many problems have gradually become prominent.Local governments provide illegal or disguised guarantees for financing platforms,resulting in increased debt repayment risks and the financing lower efficiency of local government financing platforms.Nanjing J New District Industrial Investment Group is a typical representative of local government financing platform.Under this background,this paper studies the company's financing model.This paper first reviews related financing theories such as MM theory,trade-off theory,financing priority theory and information asymmetry theory.This paper introduces the situation of the area where Nanjing J New District Industrial Investment Group is located,the basic background of the company's establishment and main business scope.Based on the company's 2015-2017 financial data,the company's current financing model is analyzed from the aspects of capital structure,profitability and solvency.Compared with the financing models of three other local government platform companies in China,the paper further compares aspects of the current financing structure,financing utilization efficiency,and debt settlement ability.Through analysis,it is found that the financing model of Nanjing J New District Industrial Investment Group has the problems of single financing channel,high financing cost and mismatched financing period,and analyzes the causes of the problem,and proposes the policy recommendations for the company's financing model optimization.The study found that Nanjing J New District Industrial Investment Group can further optimize the company's financing model by diversifying its financing model,increasing endogenous financing,encouraging social capital to participate in operations,improving corporate governance structure,and establishing a sound risk prevention mechanism.