How should the local government financing platform be transformed?

At present, platform enterprises mainly undertake four functions: first, infrastructure construction (building a construction platform), second, financing (public welfare, land and other asset platforms), third, state-owned asset management (financial holding or holding management platform), and fourth, investment (government industrial investment platform). Judging from the above four functions, infrastructure and financing platforms are the main needs for transformation, and the transformation path can refer to state-owned assets.

According to the State Council Document No.42, the requirements for the transformation of platform companies are: 1, realizing market-oriented operation; 2. The local government debts undertaken have been included in the government budget and properly disposed of; 3. Clearly announce that it will no longer undertake the debt financing function of local governments in the future. The transformation of platform companies first needs to clarify the government's stock debt, and settle the stock debt by means of government debt issuance replacement, repayment of budget funds or disposal of its own assets, and then the platform companies will carry out specific transformation and development.