Research On The Role Of Local Government In The Construction Of Government Financing Guarantee System

The development of local economy is inseparable from the support of real enterprises,and the development of real enterprises is inseparable from financial support.As an indispensable force in the national economy and social development,small and micro enterprises play an important role in increasing employment,increasing residents’ income,maintaining social harmony and stability,and occupy an absolute quantitative advantage among various market players in the country.In China’s current financial system,especially in underdeveloped capital markets,bank financing still plays a leading role in financial activities.Affected by various factors such as the overall macroeconomic downturn and COVID-19,the survival pressure of small and micro enterprises have increased in recent years,and their profit margins have declined seriously year-on-year.In order to stabilize the economic market and support the development of small and micro enterprises,the government has attached great importance to and vigorously built the government financing guarantee system in recent years,set up the national financing guarantee fund,and promoted the government financing guarantee and re-guarantee institutions to increase the credit for small and micro enterprises and "agriculture,rural areas and farmers" subjects.As an important tool of finance,financing guarantee plays an increasingly prominent role as a "stabilizer" and "amplifier",contributing positive results to serving the development of the real economy.However,due to the different support intensity of local governments,the government financing guarantee system has different effects in boosting the development of the real economy.As an inland city and an advanced demonstration city of ecological civilization,F City in J Province has a relatively weak industrial base,few large enterprises,and the majority of small,medium and micro enterprises and "agriculture,rural areas and farmers".Therefore,it is of great significance to construct and improve the government financing guarantee system.In order to further enhance the role of local governments in the construction of the government financing guarantee system,the author fully investigated the current situation of the construction of the government financing guarantee system in F City J Province,deeply analyzed the existing problems and analyzed the causes,combined with the domestic and foreign financing guarantee industry development requirements and reality,puts forward the countermeasures and Suggestions to perfect the government financing guarantee system.The paper consists of six parts:The first part of the introduction,which introduces the research purpose and significance,summarizes the research status of related problems at home and abroad,and explains the research ideas and the main research methods.The second part is the relevant concepts and theoretical basis,and the related concepts include financing guarantee,government financing guarantee,financing guarantee system and government financing guarantee system.The theoretical basis is quasi-public goods theory,market failure theory,information asymmetry theory and credit transaction cost guarantee theory.The third part takes F City in J Province as an example to explain the current situation of F City in J Province in the construction of government financing guarantee system,mainly from the development status and effect of government financing guarantee system in F City in J Province,and the role of F City in J Province in the construction of government financing guarantee system.The fourth part of the analysis of J province F city in the construction of government financing guarantee system and the main problems.The main problems in capital scale is not large,insufficient guarantee ability,institutional mechanism is not sound,bank guarantees do not cooperate well,development environment is not favorable and so on.The related reasons mainly have insufficient government attention,financial support has weakened,the supporting system is not perfect,poor coordination between departments,insufficient regulatory capacity,supply end dare not bear,do not want to bear,will not bear,demand end assures complex,assures difficult,assures expensive and so on.The fifth part puts forward the role of local government in the construction of government financing guarantee system promotion strategy,mainly including government attention: improve the government financing guarantee system,improve the mechanism: build perfect the "five core system",innovative approaches:exploring highlights of local financing guarantees,optimize the environment:strengthen the enterprise get feeling and so on.The sixth part summarizes the full text and explains the shortcomings of this paper.