The local government investment and financing platform refers to the companies set up by local governments at all levels with financing as the main business purpose, including different types of urban construction investment, urban construction development, urban construction assets companies and other enterprises (institutions) as legal persons, mainly taking operating income, public facilities fees and financial funds as repayment sources.
Mainly includes:?
According to the Notice of the State Council on Strengthening the Management of Local Government Financing Platform Companies (No.201019), local government financing platform companies refer to economic entities with independent legal personality established by local governments and their departments and institutions through financial allocation or injection of assets such as land and equity. After cleaning up, local government financing platforms can be roughly divided into two categories:
(1) A financing platform company that undertakes the investment and financing, construction and operation of public welfare projects;
(2) Financing platform companies that undertake financing tasks for non-public welfare projects.
Expand knowledge:
Classification of government financing platforms:
Government financing platforms are divided into the following categories:
One is a single financing platform, which is responsible for public welfare and basic project financing, fund allocation and debt service, and does not participate in project construction and operation, such as Hefei Construction Investment Holding (Group) Co., Ltd.;
The second is the public welfare investment and financing platform, which is responsible for the financing, construction, operation and debt service of public welfare projects;
The third is an operational investment and financing platform, which is responsible for the financing, construction, operation and debt service of basic projects, and may invest in other operational projects and finance;
The fourth is a comprehensive investment and financing platform, which has the characteristics of both public welfare and business platform, such as Jilin Investment (Group) Co., Ltd.;
The fifth is the "lending" platform, which is responsible for lending to the government and does not bear the repayment responsibility itself, such as Anhui Credit Guarantee Group. The government financing platform focuses on integrating funds into municipal construction, public utilities and other projects.
Nevertheless, at present, there is no unified statistical caliber for the definition of government financing platform in auditing, finance and banking supervision systems. In practice, banks make decisions according to their own conditions, some classify loans invested in municipal administration, parks and land reserve platforms as government financing platform loans, and some also identify loans invested in transportation, railways and other entities as government financing platform loans.
Classification of China People's Bank: The main types of government investment and financing platforms are:
(1) investment and financing platforms for various development zones and parks;
(2) State-owned asset management companies;
(3) Land Reserve Center Company;
(4) Urban investment and construction companies;
(5) the tax center set up by the financial department;
(6) Investment and financing platform of transportation government;
(7) Other types.
References:
Government financing platform _ Baidu Encyclopedia