地方政府融资平台公司债务风险的法律控制-民商法学专业论文.docxVIP

地方政府融资平台公司债务风险的法律控制 地方政府融资平台公司债务风险的法律控制 西南政法大学硕士学位论文 西南政法大学硕士学位论文 PAGE PAGE 3 Abstract In 2009, in response to the financial tsunami, the central government introduced a 4 trillion RMB investment economic stimulus plan, of which 2.82 trillion investment is allocated to local governments to complete. However, the financial power of local government has been greatly reduced in the tax system reform, which led to the local government can’t afford such a huge investment rely on fiscal revenues alone. Budget Law also stipulates that the Government shouldn’t float a loan, so local governments usually circumvent this law in disguised form to raise money, local governments setup various financing platform companies to get loans from bank using revenue from land transfer and so on .The act shows that in the short term the local government financing platform companies really work in solving the financial difficulties to raise funds. It played a huge role in infrastructure construction and revitalizing local economy. Loans must be repaid, however, for the financing platform of local government, most of their projects is public project which require huge investment and just gain little income, it can’t recover the cost in short-term. The local government finances itself loan guarantee is also limited. Face to the gathered repayment deadline in the past two years, if both government finances and financing platform are unable to repay loans that time, it will lead to the government credit risk, even conducted to the entire banking system, result in the risk of financial system. The risk of local government debt has been valued by all, but the scholars were always focus on the control of local government direct debt risk, and pay less attention to the indirect debt. In recent years, with large-scale rise of local government financing platform, the debt risk of local government financing platform company keep attracting great attention of the Ministry of Finance, the Peoples Ban