| The local government investment and financing platform is an important support for the local government to perform the functions of infrastructure construction and urban construction,and is an important tool for the government to invest and finance.With the expansion of the local government investment and financing platform and the imperfection of the supervision mechanism,while it is promoting the development of urbanization,the pressure of the local government debt behind it is constantly increasing,and the debt risk is rapidly rising.It seriously affects the normal operation of local governments and the sustainability of their contribution to economic development.Therefore,in the context of continuous supply-side structural reform,the strategic transformation and upgrading of the local government investment and financing platform is an important measure to prevent and resolve systemic financial risks and reform of state-owned enterprises.On the basis of summarizing the research situation at home and abroad,this paper takes Xinhuang County Industrial Investment and Financing Platform Company(hereinafter referred to as "Industrial Investment Company")as a case to study the strategic transformation.First of all,this paper analyzes on the development course and present situation of the industrial investment company,and advances the necessity of the transformation and development.Secondly,it uses PEST analysis paradigm to explore the external environment and industrial environment of its transformation,and summarizes the feasibility of its transformation.Then,using the SWOT paradigm to explain the internal and external conditions and challenges of the transformation of industrial and investment companies.On the basis of which,combined with the unique resource conditions of Xinhuang County,this paper makes its market-oriented transformation strategy and program from the organizational structure,assets and liabilities disposal,industrial investment choice,market-oriented operation and financing channels five aspects.Finally,on the basis of the strategy and scheme,the paper puts forward the concrete steps of market-oriented transformation from four aspects: corporate governance structure,assets and liabilities transfer,business diversification and financing channels.As the most representative government investment and financing platform in Xinhuang County,the problems in its operation have certain universality,and the external environment it faces has commonness.Therefore,the transformation strategy and plan of Industrial and Investment Company is an effective combination of commonness and individuality,which can provide a certain reference for other local government investment and financing platforms with the same characteristics. |
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