地方政府投融资平台设立股权投资基金的可行性探讨

A Feasibility Study of the Establishment of Equity Funds by the Investment and Financing Companies of the Local Governments

全球金融危机爆发以来,我国政府为了刺激经济实施了一系列积极的财政政策和适度宽松的货币政策,信贷投放迅猛发展。作为信贷投放主体之一的地方政府投融资平台负债迅速上升,加大了地方政府的债务负担,也加大了地方政府投融资平台和银行的经营风险。但在另一方面,地方政府投融资平台资金紧张的问题依然存在,严重影响了所投项目的完工计划。文中对地方政府投融资平台设立股权投资基金的可行性进行探讨,旨在建议地方政府投融资平台更新思想观念、拓宽融资渠道、缓解债务风险、增强内生动力。

Since the break-out of the world financial crisis, the Chinese government has carried out a series of positive fiscal policies and flexible monetary policies for stimulating its economy. The increasing credits have led the local governments, a chief institution for issuing credits, to bear more debts and face more management risks, which are shared both by the investment and financing companies of the local governments and banks. On the other hand, there is still a shortage of funds in such companies, which hinders the accomplishment of the investment projects. This paper gives a feasibility study of the establishment of equity funds by the investment and financing companies of the local governments in order to bring in new ideas for more financing channels, reduce financial risks and improve their functions.