Study On The Transformation And Development Strategies Of District And County Level Government Platform Company A

Over the past two decades,local government investment platform companies have developed rapidly,and in the case of limited local financial resources,the platform companies have played an important role in the stable and rapid development of China’s economy,especially in driving investment and improving infrastructure construction,making a great contribution to local economic and social development.With the economic and social development of cities,the pace of construction of various government investment projects has been accelerated,while the government has undertaken more and more various livelihood projects such as medical care,pension,education,water conservancy etc,with the capital demand gap has gradually expanded,mostly relying on platform companies to raise debt in order to implement,resulting in the rising scale of local government debt.In this context,recent years the central government has issued regulatory documents on local government hidden debt and investment and financing platform financing,and the lending channels of financial institutions to platform companies have been tightened,and "control" and "regulation" have become the High-frequency words.Only by regulating their own management,promoting market-oriented transformation and accelerating innovation in investment and financing mode can platform companies adapt to the needs of policy development and truly serve the local economy.On May 6,2022,the General Office of the CPC Central Committee and the General Office of the State Council issued the Opinions on Promoting Urbanization Construction with Counties as Important Carriers,which also ushered in important historical opportunities for the rapid development of county-level local government platform companies,while also facing the pressure of transformation and upgrading.This thesis gives a detailed introduction to the basic connotation of local government platform companies and their development history,and summarizes some common and outstanding problems in the construction and development of district and county level platform companies,specifically,firstly,in the relationship between government and enterprises,it is difficult to separate government and enterprises,lack of independence and low decision-making efficiency;secondly,in the governance and management,the governance structure is imperfect,the internal control is lax and the management level lags behind;thirdly,in the assets,the Fourth,in terms of operation,the operating income is low,the profit level is low,and the operating capacity is weak;fifth,in terms of financing,the debt pressure is high,the credit rating is low,and the financing capacity is weak.And demonstrated the necessity of transformation and development of district and county level platform companies.Based on the analysis of the common problems faced by local government platform companies,Platform company A in the top 100 counties nationwide was selected for the study case,introducing the general overview of A Company,and analyzing the operation status of A Company from four aspects: government-enterprise relationship,internal management,financial status,and business operation,using SWOT analysis tools to make a summary analysis of the transformation and development of A Company,and putting forward the The general idea of "one body,two wings,three supports and four wheels drive" transformation development is proposed,that is,the main orientation is "comprehensive city operator",the two wings are "city construction as the shell and industry as the core",and the professional development ability and resource integration ability are used.The three major supports are professional development ability,resource integration ability and market-oriented financing ability,and the four major business systems of "3+1" are actively laid out as development drivers to realize the resonance of enterprise development and the construction of County A.It also anatomizes the key initiatives and business transformation directions for the transformation and development of A Company,and puts forward the guarantee measures for the transformation and development from five aspects: guarantee of government support,guarantee of system construction,guarantee of talented team,guarantee of continuous financing and improvement of risk control level.The transformation and development of platform companies is a systematic project that needs to be implemented jointly by many aspects.At the same time,the transformation and development must be carried out cautiously,and needs to be carried out according to local conditions and policies.This thesis analyzes the transformation development of district and county-level platform companies,and takes Company A as the specific research object.Through in-depth analysis,it proposes a set of systematic solutions and clarifies the overall trend of transformation development,which can provide some inspiration and thoughts for the transformation development of other district and county-level platform companies.