| With China’s ongoing economic transition,financial risks continue to accumulate in the financial sector.As an important branch of the financial industry,the leasing industry has experienced rapid development in the early stage but gradually exposed more and more credit risks and problems.The combination of the leasing industry and local government financing platforms originated from the prominent financial conflicts between the central and local governments after the fiscal decentralization reform.It has become an important channel for local government financing.The contribution of leasing to local government in solving financial pressures is evident.However,as China’s previous economic growth mode,which was heavily reliant on infrastructure investment,has encountered bottlenecks,local government financing platforms are facing various risks under new circumstances.At the same time,the credit risk management of external leasing companies associated with local government financing platforms poses a significant challenge.Currently,individual companies in the leasing industry generally still use traditional credit risk management process systems,which although address credit risk management comprehensively from a macro perspective,fall short in responding to the rapid,systematic,and destructive characteristics of credit risks under new circumstances.Therefore,the traditional credit risk management process system is no longer able to cope with the characteristics of financial risks under new circumstances and cannot effectively forecast credit risks in advance.Therefore,it is crucial to develop a credit risk management process system that adapts to new circumstances for the leasing industry.It is also a necessary path for the leasing industry to achieve growth transformation under the current new circumstances.This article focuses on the representative J Leasing Company in the finance leasing industry as a research case to explore the key credit risks that the finance leasing industry and local government financing platforms need to address in their cooperation under the new situation,as well as the causes of credit risks and corresponding credit risk management strategies.In this study,the research achievements of domestic and foreign scholars in this field are critically reviewed,and an independent and researched credit risk management study on the cooperation between the finance leasing industry and government financing platforms is proposed.Specifically,the content includes: firstly,an introduction to the concepts and principles of credit risk management in finance leasing and government platforms,combined with the characteristics of government platforms,analyzing the credit risks that finance leasing companies may encounter in government platform projects.Secondly,the background,business status,and internal business processes of J company are introduced.At the same time,the credit risk management problems encountered by J company in government platform projects are analyzed,mainly focusing on the lack of a mature credit risk management system,overly concentrated project deployment areas,and low-quality project assets,and exploring the reasons behind these credit risk issues.Finally,optimization strategies for J company’s local government platform project credit risk management are proposed,including establishing a scientific and complete credit risk management system,dispersing project areas,improving project access levels,and strengthening credit risk-related legal and regulatory training.Through these optimization measures,J company’s credit risk management in government platform projects can be improved,providing some reference for credit risk management of peer companies in the industry. |
