City investment company is the abbreviation of urban construction investment company, and it is the investment and financing platform of major cities in China. It originated from 199 1 and assumed the corresponding government functions. It is a special market operation entity.
Most of these city investment companies are unprofitable and belong to public institutions or wholly state-owned companies. They realize profits through government subsidies and belong to special market operators with government nature.
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The businesses engaged by urban investment enterprises mainly include non-operating, quasi-operating and operating businesses such as urban infrastructure investment and financing business, municipal public utilities, first-class land development and real estate development; After the introduction of the national policy to standardize the government financing platform, the operating business of urban investment enterprises has gradually increased. City investment enterprises are mainly responsible for urban infrastructure investment and financing business, municipal public utilities, land development, real estate development and other businesses.
City investment enterprises are the product of market-oriented reform of municipal infrastructure industry in China, and also the main body of market-oriented financing of local governments. Cui Guoqing, Secretary-General of the National Urban Investment Corporation Cooperation Liaison Committee, said in an interview that in the past, the investment and financing of urban infrastructure were mainly government-led and financial funds, but now it has moved towards a new mode of government-guided, market-oriented and enterprise-oriented financing.