浅议地方政府融资平台存在的风险及对策

对地方政府融资平台存在的负债率偏高、融资行为存在非市场化倾向和融资渠道单一和融资后资金流向混乱等问题进行了分析,提出了加强地方政府融资平台内部管理和外部监管、将信贷资金偿还纳入政府预算管理和建立债务风险预警和管理体制等对策。     

地方政府融资的风险与控制

从地方融资平台的现状入手,分析其形成的原因和风险,相应的给出一些规范地方政府融资平台的对策。1地方政府融资平台的现状2007年美国的次贷危机席卷全球,中国经济也深受影响。结合国情,我国继续采取积极地财政政策,通过减税降息、增加政府投资和公共财政支出等措施刺激国内需求,保持经济稳定增长。2008年11月,中央政府出台了4万亿投资刺激政策。为拓宽中央投资项目配套资金渠道,央行和银监会鼓励地方政府通过设立合规的投融资平台吸引银行信贷,并鼓励其通过债务工具进行融资。在政策激励下,各地的政府融资平台数量不断增加规模不断扩大,根据中国银监会的统计数据,截止2010年6月末。中国地方融资平台贷款达7．66万亿元,城投债余额为4882．5亿元;再加上财政部代放的地方政府债券2670亿元,地方政府公开可以计算的总债务截至6月末已超过8．42万亿元。     

我国地方政府融资平台债务风险防范研究

地方政府融资平台在推动地方政府进行基础设施项目建设、促进地方经济发展等方面发挥了极为重要的作用。但由于制度体制、风险管理等方面存在的缺陷,使我国地方政府融资平台出现了巨大的债务风险。因此分析地方政府融资平台债务风险形成原因、建立债务风险判别预警机制对防范地方政府融资平台债务风险具有重要意义。通过选取相应指标,在借鉴国外经验的基础上,综合判定了目前地方政府融资平台的债务风险状况,并探索了债务风险的成因及影响,从规模控制、预警制度、机制体制完善、创新平台融资模式和加强金融机构控制力度5个方面提出我国地方政府融资平台可持续发展的政策建议。     

加强地方政府融资平台管理研究

地方政府融资平台有效缓解了地方建设资金短缺的发展瓶颈,拉动了地方经济迅速回升,然而,在其发展过程中问题与风险也逐渐突显,在此借鉴了国外地方债务管理模式,通过多种措施加强地方政府融资平台管理,规范其融资,使地方政府融资平台走上健康发展的轨道。     

地方政府融资平台债务风险的成因分析、问题及应对措施

为解决08年以来公益性项目财政融资导致地方政府财政负债大幅增加、财政风险增大的问题,文章对地方政府负债的内外动因进行了分析,对其主要模式———平台融资模式、与银行的对接方式、存在的主要问题进行了剖析,提出了应对措施。认为城市化是社会发展的必然趋势,资本性支出的适度融资也是合理的,下一步要改变政府角色模糊定位,通过设立基金、市场化融资、建立债务管理系统、发债等方式妥善解决地方政府融资平台债务风险。     

关中—天水经济区发行地方政府债券的信用风险研究

在关中—天水经济区经济快速发展的过程中,基础设施的建设一直占据重要地位并发挥着关键作用.但由于该经济区地处我国经济欠发达地区,用于基础设施建设的资金仍存在很大缺口,这已成为制约经济区进一步发展的瓶颈.期望通过在经济区发行地方政府债券的融资方式来解决这一问题.但是地方政府债券作为一种金融产品,它的发行必然会带来相应的风险,如何准确地度量其潜在风险,合理确定其融资规模和期限结构是有效使用这一融资工具的前提.运用KMV模型分析度量了发行地方政府债券的信用风险,在此基础上,进一步提出了地方政府债券的风险防范与控制措施.     

PPP模式下的地方政府融资平台转型发展思考

国发[2014]43号的颁发,这些地方政府融资平台公司被要求剥离融资功能,亟需寻找转型之路。本文在分析地方融资平台发展现状及存在问题的基础上,指出融资平台公司可充分利用其与地方政府的关系及国有资本性质的优势在PPP项目融资中发挥重要作用,并借助PPP寻找转型发展之路。     

科技型小微企业融资模式创新:泛融资模式的构建

从融合政府、商业银行和电商平台这一途径,通过构建以资本分流、企业渠道匹配、信用评价体系3个模块为核心的泛融资模式,实现科技型小微企业融资渠道支持效应的安全化和最大化。该模式将政府资金、银行资金以及民间资金进行有效分流,通过P2P、众筹及基金会等方式,为处在不同发展时期的科技型小微企业进行引资,通过引入政府并融合电商平台建立多主体信用体系模块,以期降低违约风险。泛融资模式的建立为探索创新科技型小微企业融资渠道、进一步完善互联网融资的信用体系,为科技型小微企业健康融资提供参考。     

地方政府融资平台负债经营财务风险分析

地方政府融资平台因其经营性质特殊,所以相对普通企业来说,负债经营财务风险更为明显。本文分析了当前政府融资平台的负债经营财务风险的特点,提出在预算法修订这一新的历史阶段,在国家明确提出要剥离融资平台的政府融资职能的前提下,平台公司必须通过转型升级、走真正的市场化道路才能从根本上控制负债经营引起的财务风险,实现企业的健康发展。     

地方政府融资平台运营及其风险管理——以济南市为例

地方政府融资平台运营中存在运营体制不尽合理,信用结构失衡,融资渠道单一,偿债对土地依赖过大,存在偿付风险等等问题。加强地方融资平台风险管理需要做到:完善公司法人治理结构,形成评价考核机制;建立科学的债务管理模式,依法规范整顿存量债务;拓展平台公司主营业务,突出城建主渠道作用;健全城建项目决策机制,推进项目建设规范化;建立政府支持保障机制,有效化解债务风险;积极拓宽融资渠道,构建多元化的融资格局。     

Students' Reactions to the Introduction of Videoconferencing for Classroom Instruction

This study examined how students who had no prior experience with videoconferencing would react to the use of videoconferencing as an instructional medium. Students enrolled in seven different courses completed a questionnaire at the beginning of the semester and again at the end of the semester. Students at the origination and remote sites did not differ in their reactions toward videoconferencing but there was a significant difference for gender. Women reacted less favorably to videoconferencing. Compared to the beginning of the semester, students reported significantly less positive attitudes toward taking a course through videoconferencing at the end of the semester. There were no significant differences in students' attitudes toward videoconferencing across courses at the beginning of the semester but there were significant differences across the courses at the end of the semester. The results suggest the need for better preparation for both students and instructors.     

Cooler temperatures inductive to locust outbreaks

Ajoint study by Prof. ZHANG Zhibin from the CAS Institute of Zoology and his co-workers from Norway, US and Swiss have indicated that historical outbreaks of migratory locusts in China were associated with cold spells, suggesting that China＇s projected climate warming could decrease the pest＇s numbers. The study was published in Proceedings of theNational Academy of Sciences on 17 September, 2007.     

Exploring Multiplexity: Social Network Structures in a Computer-Supported Distance Learning Class

A computer-mediated group is a complex entity whose members exchange many types of information via multiple means of communication in pursuit of goals specific to their environment. Over time, they coordinate technical features of media with locally enacted use to achieve a viable working arrangement. To explore this complex interaction, a case study is presented of the social networks of interactions and media use among members of a class of computer-supported distance learners. Results show how group structures associated with project teams dominated who communicated with whom, about what, and via which media over the term, and how media came to occupy their own communication niches: Webboard for diffuse class-wide communication; Internet Relay Chat more to named others but still for general communication across the class; and e-mail primarily for intrateam communication. Face-to-face interaction, occurring only during a short on-campus session, appears to have had a catalytic effect on social and emotional exchanges. Results suggest the need to structure exchanges to balance class-wide sharing of ideas with subgroup interactions that facilitate project completion, and to provide media that support these two modes of interaction.     

The Role of Intermediating Institutions in the Diffusion of Electronic Data Interchange (EDI): How Industry Associations Intervened in Denmark, Finland, and Hong Kong

Electronic data interchange (EDI) provides means for interorganizational communication, creates network externalities, requires an advanced information technology (IT) infrastructure, and relies on standards. In the diffusion of such innovations, institutional involvement is imperative. Such institutions contain governmental agencies, national and global standardization organizations, local government, and nonprofit private organizations like industry associations. The last type of organizations we call intermediating institutions. They intermediate or coordinate ("inscribe") the activities of a group of would-be adopters. Unfortunately, little is known of how these organizations shape the EDI diffusion trajectory. In this article we examine one specific type of intermediating organizations?industry associations?and how they advanced the EDI diffusion process in the grocery sectors of Hong Kong, Denmark and Finland. We identify six institutional measures, placed into a matrix formed by the mode of involvement (influence vs. regulation) and the type of diffusion force (supply push vs. demand pull), that can be mobilized to further the EDI diffusion. Industry associations were found to be active users of all these measures to varying degrees. Their role was critical especially in knowledge building, knowledge deployment, and standard setting. Furthermore, institutional involvement varied due to policy and cultural contingencies and power dependencies.     

How Electronic Publishers are Protecting Against Piracy: Doubts About Technical Systems of Protection

The increasing prospects of digital piracy has prompted the perceived need by electronic publishers to adopt technical systems of protection, and governments to reform their copyright laws. This article is a preliminary study of the management of intellectual property by electronic publishers, defined as those involved in the production of online databases, and CD-ROMs. It focuses on three main issues: (1) how electronic publishers view the increasing threat of piracy; (2) the methods of protection employed to protect intellectual property in digital format; and (3) the importance of technological protection of intellectual property in electronic publications. The analysis is based on a sample of 23 UK electronic publishers. The interviews revealed an interesting assortment of protection methods and did not show that technological protection was a preferred way. Instead, the means of protection, in addition to copyright law, comprised niche markets, pricing, trust, bad publicity, and nontechnical and technical means.     

Rough Justice: A Statistical Assessment of ICANN's Uniform Dispute Resolution Policy

Long-standing conflict between domain name registrants and trademark holders prompted the Internet Corporation for Assigned Names and Numbers (ICANN) to create a global, mandatory arbitration procedure known as the Uniform Dispute Resolution Policy (UDRP). The UDRP has been used in 2166 cases involving 3938 domain names as of 1 November 2000. The policy gives the initiator of a complaint, generally a trademark holder, the right to choose which ICANN-accredited dispute resolution service provider (RSP) will handle the case. During the preparation of the UDRP,some feared that complainant selection would lead to "forum shopping" that might bias the results. This article performs a statistical assessment of the forum-shopping thesis and finds support for it. There are statistically significant differences in the various RSPs' propensity to take away names from defendants; there are also major differences in the number of cases brought to each RSP. RSPs who take away names have the larger share of cases. The study examines other variables that might explain differences in market share, such as price, the plaintiff's nationality, or the time taken to decide a case. It finds that nationality and time also are correlated with market share. The study concludes that shopping for a favorable outcome is an important factor in the UDRP.     

Prevalence of soft neurological signs in Chinese people

Prof. Raymond C.K. Chen, a neuropsychologist with the CAS Institute of Psychology, has made novel progress in his studies of schizophrenia. His work has been reported by a recent issue of Behavioural Neurology.     

Monoculture Rubber Plantations Have Negative Ef ects on Controlling Splash Erosion

<正>In Xishuangbanna,one of China’s most biodiverse regions,landscape has changed dramatically during the past three decades due to the conversion of tropical rainforest to rubber plantations.In steep areas,terraces are often constructed before planting rubber trees,which causes two important changes in the soil:the destabilization of soil in the bench terraces and the increased vulnerability of unvegetated riser faces to erosion.Few studies have documented the nature and intensity of erosion on bench terraces.Prof.LIU Wenjie and his colleagues from the Xishuangbanna Tropical Botanical Garden(XTBG)conducted a study in Menglun County(21°5′39″N,101°15′55″E),Xishuangbanna to evaluate the influence     

Chinese Scientists Use Earth Observation Technologies to Study and Protect Wild Camels

<正>Chinese scientists plan to apply Earth Observation technologies to protect the critically endangered wild camels(Camelus ferus).With the help of remote sensing,satellite positioning,geographical information system and wireless sensors networks,they will be able to access the distribution and population of the wild camels and protect their habitats.The project will be carried out by the International Research Center for Wild Camel Conservation,which was jointly established earlier this year by the Institute of Remote Sensing and Digital Earth(RADI)of the Chinese     

More than Skin Deep – Understand Skin Biology by Means of Dermatogenomics

<正>The Paul Gerson Unna Research Group on Dermatogenomics was founded in October 2012 at the Partner Institute for Computational Biology.The ultimate goal of the group is to understand the biology of skin and skin appendages.