1摘 要 地方政府融资平台是我国地方政府投融资的一个主要工具，是我国地方政府与民间、社会资本合作的主要方式。中国资本市场的历史不长，地方建设通过资本市场举债融资的历史更短，但是地方建设债务融资发展的速度非常快。尽管中华人民共和国预算费对于地方政府举债有严格的限制，但是我国近年来对于加速城镇化建设的要求，有力地刺激了各级地方政府对基础设施建设的需求，同时也为我国地方政府融资提供了平台。国务院于1988年发布的关于投资管理体制的近期改革方案，使我国政府的融资模式由最初的仅由中央投资的模式转变为中央与地方政府共同融资的模式，随后我国中央政府和地方政府分别陆续设立了融资公司。由于我国对分税制进行改革，使政府融资模式在1994年经历了又一个重要转折，各级地方政府逐步开始建立专门的政府融资公司，或由事业单位承担基础设施建设的任务。国务院于2004年发布了关于投资体制改革的决定，该决定对政府投资职能、项目融资渠道、投资宏观调控体系等方面的管理更为开放，扩大地方政府融资平台的融资渠道。为有效应对2008年国际金融危机的波及，人民银行和银监会于2009年初联合出台关于“支持符合条件的各级地方政府组建融资平台”的政策后，融资平台的数量和规模快速发展，同时也使我国商业银行的发展面临了机遇和挑战。当前，由各级地方政府建立了融资平台公司多为建设单位，地方政府融资平台已逐渐成为我国投融资体制建设的重要环节，同时地方政府融资平台又是以银行贷款作为融资的主要途径。 然而，在各级地方政府融资平台的实际运行过程中，存在着融资平台公司治理不合理、政府担保不合规和平台贷款监管制度不健全等相关法律制度问题，存在引发地方债务风险和商业银行系统性风险的可能，对地方政府融资平台贷款的健康发展及融资平台贷款风险防控工作都造成一定的阻碍。目前，关于地方政府融资平台相关研究主要以融资平台风险防控、融资平台构建等方面为主，本文以现有的研究为基础，以平台贷款风险防控为视角，进一步从法律角度剖析如何规范地方政府融资平台，促进地方政府融资平台相关制度的完善。本论文主要从四个方面进行论述，第一部分是从地方政府融资平台的定义、产生背景、特点及积极意义四个方面对地方政府融资平台的概况进行分析；第二部分针对地方政府融资平台存在的相关法律制度问题，从公司治理结构、地方政府担保、融资平台贷款监管制度等方面进行揭示；第三部分通过对美国、英国和法国三个发达国家政府融资模式的概况，借鉴国外政府融资管理模式，得出如何管理我国地方政府融 2资平台的几点启示；第四部分即最后一部分从政府融资平台相关制度建设、制度执行两个方面为我国地方政府融资平台的健康发展、防范融资平台贷款风险建言献策。 【关键词】 政府融资平台 法律制度 风险防控 3Abstract Local government financing platform is not only the main tool of the financing and investing of local governments in China but also the main form of cooperation between local governments and social capital. The history of Chinese capital market is not long and the history of financing local construction through the capital market is even shorter, but financing local constructions using debts is developing rapidity. Although the “Budget Act of the Peoples Republic of China” strictly limits local government financing through debt, but the processes of Chinese urbanization and industrialization are experiencing swift growth, as well as the expectation of high-speed economic growth in the future, effectively stimulate demand in infrastructure construction and provide bright future for debt financing local construction. In 1988, the State Council issued the Recent Reform Program on the Investment Management System”, the investing and financing mode of governments shift from the single central investment to the jointly investment of central and local governments. The central government had set up professional investment companies, and the provinces, autonomous regions and municipalities directly under the central government and municipalities also had set up local investment companies. The tax system reform in 1994 became another important turning point; local governments began to establish a series of professional investing and financing companies or institutions to assume the task of constructing. In 2004, the State Council issued “A Decision on the Reform of the Investment System”, made further openness provisions for local investment in reasonable definition of the functions of government investment, expanding the financing channels of projects and sounds the macro-control system of investment. This opened the door for local investing and financing companies to broader financing channels. To effectively deal with the spread of the international financial crisis in 2008, in early 2009, the Peoples Bank and China Banking Regulatory Commission jointly issued the policy on supporting qualified local governments to set up financing platforms. After that, the number and size of the financing platform developed rapidly, and this made Chinese commercial banks face the opportunities and challenges. Currently, most of local governments which have independent financial powers established financing platform companies. The system of local government financing platforms is becoming an 4important part of the Chinese investing and financing system, in particular, borrowing from banks is the main way of financing. However, in the actual motion of local government financing platforms, the corporate governance of financing platform companies are irrational, government guaranteed is non-compliant and regulatory regime of financing platform companies is defective. The imperfect of legal system and other related issues in local government financing platforms may cause the local debt risk and commercial banks systemic risk and make troubles for the healthy development of local government financing platforms and the risk prevention and control work for loans of financing platforms. Currently, researches on local government financing platforms mainly focus on the aspects of risk prevention and control and how to establish a financing platform. This paper based on existing researches, in the perspective of prevention and control credit risk of platform loans, seek how to standardize government financing platforms and promote the perfection of government financing platforms in the legal point of view. This paper discusses four aspects, the first part make an overview of local government financing platform in four aspects: the definition, background, characteris