政府投融资平台信贷资产证券化探析

Research on Credit Assets Securitization on Government Investment & Financing Platforms

近年来,地方政府融资平台债务规模逐年递增,且平台债务主要为银行贷款,风险逐渐积聚。2013年,国务院进一步明确扩大信贷资产证券化的试点方针。为推动平台公司信贷资产证券化,应完善金融监管协调机制、法律法规、定价机制,引入市场机制,对平台公司信贷资产进行重组和信用增级,拓宽平台公司融资渠道,盘活信贷资产,化解平台公司债务风险,推动地方经济发展。

In recent years, the debt size of local government financing platform increasingly grows on a yearly basis, and the main form of debt on the platform is the bank loan whose risks have gradually accumulated. In 2013, the State Council further clarified the policy of expanding pilots for credit assets securitization. Therefore, in order to promote local economic development, it＇ s necessary to promote corporate credit assets securitization on the platform as soon as possible, improve financial supervision and coordination mechanism, laws and regulations, and the pri- cing mechanism, introduce market mechanism, restructure corporate platform credit assets and make credit rating upgraded, broaden platform financing channels, utilize credit assets, dissolve corporate platform debt risks.