Is the city investment a state-owned enterprise or a central enterprise?

Chengtou is a state-owned enterprise. The full name of Chengtou is Urban Construction Investment Company, which is a financing platform for government investment in major cities in China. It originated from 199 1 and assumed the corresponding government functions. It is a special market operation entity. Most of these city investment companies are unprofitable and belong to public institutions or wholly state-owned companies. They realize profits through government subsidies and belong to special market operators with government nature.

Policy situation:

In view of local government debt and investment and financing innovation, the state has issued a series of documents to make clear and detailed provisions.

1. Clearly distinguish and separate the debts of local governments and the debts of financing platforms, and the situation that financing platforms help local governments borrow money should be completely eliminated, so as to make the transformation of financing platforms into market-oriented operations of state-owned enterprises more rapid.

2. Local governments are not allowed to borrow money in disguise, such as using government to purchase services, ppp, various investment funds funded by the government, illegal guarantees, and commitment to repurchase. For infrastructure construction projects, local governments are strictly prohibited from purchasing services.

Issuing bonds within a certain amount is the only way for local governments to borrow money. For public welfare projects, issue unprofitable ordinary bonds for financing and profitable special bonds for financing. The former is repaid by ordinary public budget income, while the latter is repaid by relative government fund income or special income.

4. Strengthen the prevention of financial risks, strictly control the amount of liabilities, pursue the responsibility to the end, and be accountable for life.

5. While restricting the borrowing behavior of local governments, the state has also opened up some other projects, such as the development of ppp projects, government toll roads, and the reserve of pilot land.

Characteristics of urban construction investment companies

The characteristics of the city investment company include management as a supplement and public welfare as the mainstay; Consistency and service characteristics. Among them, the characteristic of public welfare as the main business supplement is that most of the state-owned assets it builds or operates are urban infrastructure, which is related to the local national economy and people's livelihood, and most of them are not for profit, so the public welfare is strong.

Some even charge corresponding fees, mostly in the form of cost price; The so-called consistency means that the city investment company manages the financing funds by adopting the predetermined operating principles, including the funds that need to pay the cost of funds and the funds that do not need to pay the cost of using funds. Service, mainly because the company has the support of relevant policy departments, and the financing plan is directly related to the national economy. Generally speaking, it is the third source of funds besides budgetary allocation and bank loans.