Study On Debt Risk Evaluation And Prevention And Control Countermeasures Of A City Investment Corporation

In order to comprehensively strengthen the management of local government debt,the State Council issued the Opinions on Strengthening the Management of Local Government Debt(2014)No.43,which requires that the boundaries of the debt-servicing responsibilities of enterprises and governments be clearly defined,that the government financing functions of the City Investment Corporation be stripped off,and that the risks are borne by those who borrow and who pay back debt.Because of the huge scale of the original government debt and mostly no project income,coupled with the ban on new government debt to repay old debt,financing channels were cut off,the city investment company government belief was gradually broken,debt risk concentrated.Against this background How to identify,evaluate and deal with the debt risk of CICC and how to develop continuously are worthy of study.The debt risk of the city investment company refers to the uncertainty that the city investment company with government background can not repay the principal and interest of the debt due in full under the macro policy environment of de-platform.This paper mainly from the city investment company debt risk concept,characteristics,identification,causes and prevention and control and other aspects of the discussion,first elaborated the relevant research background and ideas,reviewed the domestic and foreign research on debt risk theory,in order to further clarify the research ideas and methods.Then this paper divides the debt status of the city investment company Analysis,mainly from the city investment company set up the background and its nature,mainly adopted financing channels,debt causes and main debt risk characteristics,and so on,in-depth analysis of the city investment company debt characteristics and deep-level causes,in order to objectively evaluate the debt risk and targeted response.Based on the objective description of investment,financing and operation status of A City Investment Corporation,10 indexes are selected from two levels: regional economic situation and internal factors,considering the influence factors of various financial indexes including solvency,profitability and the support willingness and support ability of local governments to platform companies For each city investment company debt risk measurement,constructed the A city investment company debt risk appraisal system.On the basis of the established debt risk assessment system,the Topsis improved factor analysis method and K—mean clustering method are used to empirically study the debt risk of A city investment company,and the countermeasures of debt risk prevention and control of the city investment company are put forward from the perspective of national macro,local government and internal company.This paper aims to improve the effectiveness of local government investment company’s debt risk management through the research on the debt risk assessment and prevention and control.reduce the possibility of its debt risk occurrence,and provide theoretical basis and decision support for the market-oriented transformation of the city investment company and the healthy development of government.