地方政府融资平台转型路径:透视水利行业

The Transformation Path of Local Government Financing Vehicles:From the Prospective of Water Conservancy Industry

地方政府融资平台近年来为地方基础设施建设提供了重要的融资支撑,但是随之而来的政府债务风险也在不断加剧。改革地方政府融资体制、剥离融资平台政府融资职能,是近期必须抓紧推进的重要任务。以水利投融资平台为例,应抓紧分类化解存量债务,抓住行业改革发展机遇,参与政府公共服务购买和采取PPP模式,完成市场化转型。政府应妥善解决平台公司存量公益性资产和债务,加强平台公司分类整合,加快推进行业市场化改革。

In recent years, local government financing vehicles （LGFV） provide important support for the financing of local infrastructure, but the attendant risk of government debt is also growing. It is very important to pay close attention to reform the local government financing system and strip away the government financing functions of LGFV. Taking the water conservancy financing vehicles as an example, the strategies were proposed： classify and resolve the debt, seize the reform opportunity, participate the government purchasing of public services and PPP, complete market transformation. The government should properly resolve LGFV public assets and liabilities, strengthen classification and integration of the LGFV, accelerating market reform.