摘要
地方政府投融资平台是中国缓解地方政府融资约束金融创新的产物,它为中国走出金融危机困境,GDP实现快速增长、消化经济过剩,改善民生等做出了重要贡献。但由于地方政府投融资平台自身的缺陷及当前法律法规的缺失导致平台资金运营管理混乱,加大了其债务风险。从地方政府投融资平台的组建、平台融资渠道及资金使用等运营状况入手,指出小财政与大城建矛盾、地方政府超负荷融资与超负荷提供信用担保、信息的不对称、偿债责任主体不明确、资金运用收益考虑匮乏、银行的流动性风险加大等等因素造成了地方政府投融资平台债务积累,提出了需要以项目收益为还款来源的贷款,强化项目管理,对低收益和无收益的公益性项目,建立财政补偿机制,拓宽融资渠道,逐步建立资产证券化的投融资平台等化解平台风险的措施。
Local governments＇ investment and financing platform is the result of innovation of alleviating the financial constraints to local governments in China,it makes important contributions to relieving from financial crisis dilemma in China,achieving GDP rapid growth,digesting economic surplus and improving the livelihood of the people.However,due to its own defects of local governments＇ investment and financing platform and the lack of the current laws and regulations,the system has got a great confusion in platform operating funds management and increased the risk of debt.Firstly,this article discusses local governments＇ investment and financing platform,construction of financing channels and the use of funds,operation condition,and pathway.Then,it points out that small finance and urban construction contradiction,local governments＇ financing and overloaded credit guarantee,information asymmetry,unclear liability of the main body,lack of consideration of funds earnings,and increased bank liquidity risks lead to the debt accumulation of local governments＇ investment and financing platform.At last,it puts forward that the project earnings should be the source of repayment of the loan;project management should be strengthened;financial compensation mechanism should be set up for low income and no return public welfare projects;financing channels should be broadened,and specific measures of asset securitization should be gradually established for alleviating the financing platform risk.
出处
《四川理工学院学报（社会科学版）》
2013年第5期88-91,共4页
Journal of Sichuan University of Science & Engineering(Social Sciences Edition)
基金
湖南省社会科学基金资助项目(2010YBA120
2011YBA155)
关键词
地方政府投融资平台
债务积累
债务偿还
化解对策
local governments＇ investment and financing platform
accumulation of debt
debt
countermeasures
