昆明新都投资有限公司融资模式研究

发布时间：2018-03-19 19:00

本文选题：地方政府性融资平台　切入点：融资　出处：《云南财经大学》2013年硕士论文　论文类型：学位论文

【摘要】：我国的地方政府性融资平台公司是以各种类型的城投公司为主要载体，其最传统、最通行的融资模式为“平台公司+土地财政+信贷资金”。随着各地城建投资量日益加大，融资平台债务过高所引发的债务风险及危机引起了中央政府及金融监管机构的高度重视，相继出台了一系列“加强地方政府债务风险管控、规范地方融资平台”调控政策，开始大力清理融资平台，严控对融资平台贷款，导致融资平台原有的融资模式难以为继。由于我国地方政府具有“小财政—大建设”亦即事权大而财权小这一特点，对于地方建设资金需求，地方财政力不从心，建设资金仍需融资解决。在原有模式已严重受阻的形势下，如何构建行之有效的融资模式，已成为摆在我国地方政府融资平台眼前不容回避的重要课题。本文从我国地方政府融资平台的发展入手，对其融资模式现状、存在的问题及成因进行分析，研究融资平台如何构建行之有效的融资模式。在参考国内外文献的基础上，对地方投融资平台发展理论、融资理论及国外融资平台的先进经验对我国的启示等进行了简要概括和论述。以新都公司为例，运用相关理论和方法，，指出以传统的“平台公司+土地财政+信贷资金”模式已难以适应今后项目投资及公司自身发展的需要，并从平台公司自身的视角，提出了应构建“自身造血+多元化融资模式的新思路。
[Abstract]:The local government financing platform companies in our country take various types of city investment companies as the main carriers, and the most traditional and most popular financing mode is "the platform company land finance credit funds". With the increasing amount of investment in urban construction, The debt risk and crisis caused by the excessive debt of the financing platform have aroused the great attention of the central government and the financial supervision organization, and a series of regulatory policies have been issued one after another "strengthening the local government debt risk control and standardizing the local financing platform". Began to clean up the financing platform, strict control of the financing platform loans, resulting in the financing platform of the original financing model is difficult to sustain. Because the local government in our country has the characteristics of "small finance-big construction", that is, big power but small financial power, local finance is unable to cope with the demand for local construction funds. Under the situation that the original model has been seriously blocked, how to build an effective financing model has become an important issue that can not be avoided in the present time of the local government financing platform in our country. Starting with the development of local government financing platform in China, this paper analyzes the current situation, existing problems and causes of its financing mode, and studies how to construct an effective financing model. This paper briefly summarizes and discusses the development theory of local investment and financing platform, the financing theory and the enlightenment to our country from the advanced experience of foreign financing platform. Taking Xindu Company as an example, using relevant theories and methods, It is pointed out that the traditional mode of "land finance credit fund of platform company" is difficult to meet the needs of future project investment and the company's own development, and from the perspective of the platform company itself, it is pointed out that, This paper puts forward a new way to construct the self-financing model of hematopoiesis diversification.
【学位授予单位】：云南财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F832.39

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