| In order to further improve the living conditions of low-income groups and promote social harmony and stability,our government has paid more and more attention to the construction of affordable housing.The local government raised debt through the financing platform to raise funds for the construction of affordable housing projects,which solved the problem of insufficient funds for local governments.However,with the rapid expansion of debt financing scale of affordable housing financing platform,problems such as backward financing mode,nonstandard operation and insufficient innovation mechanism have emerged.In the context of the government’s stricter control over the debt of financing platform companies,the financing problem of affordable housing construction has seriously hindered the development of affordable housing construction in China.This paper attempts to take the financing mode of affordable housing construction as the research object,use the public product theory,project differentiation theory,financing priority theory and other basic theories to guide the financing of affordable housing construction,take Wenzhou Y Financing Platform Company as a sample enterprise to conduct research,list its financial data in recent three years,and mainly analyze the company’s financing structure,financing efficiency,debt repayment ability,etc.Then take a local government financing platform in Hangzhou as the contrast object,analyze the differences between the two companies in terms of operating methods,financing models,etc.From the above analysis,it is found that there are many problems in the financing mode of Wenzhou Y financing platform companies.First,financing channels are not diversified enough;Second,the financing cost is not low;Third,the financing term does not match;fourth,the profitability is insufficient.The underlying reasons are closely related to subjective and objective factors such as stricter policy control,imperfect internal governance mechanism,unscientific investment and financing planning,and single main business.Finally,the paper puts forward the countermeasures and suggestions for the financing optimization of the platform company,starting from innovating the financing mode,increasing endogenous financing,improving the efficiency of capital use,establishing and improving the risk prevention mechanism,etc.,to further optimize the company’s financing mode,so as to promote the sustainable development of affordable housing construction. |
