地方政府融资平台是我国现有财政体制下对于政府融资的重大创新举措，推进 地方政府融资平台对于发展地方经济、提高所在地公共服务有着重要作用。近几年， 国家越来越重视对地方政府融资平台的建设与发展，在政策大力扶持的同时，地方 政府融资平台在发展的过程中也出现了一定问题。本文结合当前我国地方政府融资 平台发展现状，对当前融资平台运营模式进行探讨，并提出相应的发展建议。 首先，本文将先阐述关于地方政府融资平台的相关理论，包括公共物品理论、 地方政府竞争理论、项目区分理论以及财政分权理论，然后介绍地方政府融资平台 的模式，分析地方政府融资平台特征； 其次，分析我国地方政府融资平台的发展现状，探讨目前存在的主要问题，包 括融资主体单一、财政风险金融系统风险集中、政府与银行双重监管缺位； 再次，选取 XW 集团这个案例进行分析，介绍 XW 集团的发展历史与现状，并 归纳现存的问题以及困境，总结出 XW 集团面临资产规模庞大，缺乏控制力、行政 色彩浓厚，缺乏自主决策能力、欠缺长远规划，片面重视融资能力、思想意识保守， 融资渠道有待拓展的问题、投资项目资金需求量大，经营业务盈利水平低； 最后，借鉴国内几个典型融资平台的运营模式，提出 XW 集团的发展建议，XW 集团需要借鉴其他城市的发展经验，制定适合自身的发展策略，逐步挣脱束缚，拓 宽融资渠道，实现更好发展。 关键词：地方政府融资平台 发展策略 金融风险II 华 中 科 技 大 学 硕 士 学 位 论 文 Abstract Local government financing platform is a major innovation for government financing under the existing financial system in China. Promoting local government financing platform plays an important role in developing local economy and improving local public services. In recent years, the state pays more and more attention to the construction and development of local government financing platform. While vigorously developing it, local government financing platform also exposes certain problems. Based on the current development of local government financing platform in China, this paper discusses the current operation mode of financing platform, and puts forward corresponding development suggestions. Firstly, this paper will elaborate the relevant theories about local government financing platform, including public goods theory, local government competition theory, project differentiation theory and fiscal decentralization theory, then introduce the mode of local government financing platform, and analyze the characteristics of local government financing platform. Secondly, it analyzes the current situation of local government financing platform in China, and discusses the main problems, including the single financing subject, the concentration of financial risks, the absence of dual supervision of the government and banks. Thirdly, select the case of XW Group to analyze, introduce the development history and current situation of XW Group, summarize the existing problems and difficulties, and conclude that XW Group is faced with huge assets, lack of control, strong administrative color, lack of independent decision-making ability, lack of long-term planning, one-sided attention to financing capacity, ideological meaning. Conservative knowledge, problems in financing channels to be developed, large demand for investment projects, lowIII 华 中 科 技 大 学 硕 士 学 位 论 文 profitability in business operations. Finally, drawing on the operation modes of several typical domestic financing platforms, XW Group's development proposals are put forward. XW Group needs to draw on the development experience of other cities, formulate its own development strategy, gradually break away from the shackles, broaden the financing channels, and obtain broader development space. Key words: Local government financing platform Development strategy Financial riskIV 华 中 科 技 大 学 硕 士 学 位 论 文 目 录 摘要...............................................................................................................I Abstract.......................................................................................................... II 图目录............................................................................................................VI 表目录...........................................................................................................VII 1 绪论.............................................................................................................1 1.1 选题背景及研究意义 .........................................................................1 1.2 研究方法与思路 .................................................................................2 1.3 国内外文献综述 .................................................................................4 1.4 主要研究内容 .....................................................................................5 2 融资相关概念及理论 ................................................................................7 2.1 基本概念..............................................................................................7 2.2 地方政府融资理论分析 .....................................................................8 2.3 地方政府融资平台模式 ...................................................................11 3 我国地方政府融资平台发展历程及现状 ..............................................15 3.1 地方政府融资平台发展历程 ...........................................................15 3.2 地方政府融资平台运行现状及存在问题 .......................................16 4 XW 投资集团介绍及发展现状 ..............................................................20 4.1 XW 投资集团发展历史....................................................................20 4.2 XW 投资集团运行现状....................................................................20 4.3 XW 投资集团运营中面临的问题和困境........................................22 5 XW 投资公司发展策略分析 ..................................................................27 5.1 XW 投资公司发展难点....................................................................27V 华 中 科 技 大 学 硕 士 学 位 论 文 5.2 国内典型地方政府融资平台转型模式借鉴 ...................................28 5.3 XW 投资公司发展建议....................................................................32 6 结论与展望 ..............................................................................................38 6.1 研究结论............................................................................................38 6.2 研究展望............................................................................................39 致 谢.............................................................................................................40