当代金融研究2026，Vol.9Issue(2)：48-58,11.DOI:10.20092/j.cnki.ddjryj.2026.02.004
政策导向与城投公司转型的路径探析
Analysis on Policy Orientation and Transformation Paths of Urban Investment Companies
任云霄 1黄剑云 1黄本鑫1
作者信息
- 1. 东兴证券股份有限公司,北京 100033
- 折叠
摘要
Abstract
As a special market entity in China,urban investment companies(UICs)have prioritized market-oriented transformation and debt resolution as their core development tasks at the present stage.This paper adopts a research method combi-ning normative analysis and case analysis.Based on the development history and policy evolution of UICs,it systematically analyzes the core risks faced by UICs in their transformation,explores their transformation directions and specific paths,and puts forward relevant policy recommendations from both government and en-terprise dimensions.The study identifies transformation risks of UICs,including in-sufficient profitability,mismatched cash flows,and constrained realization of collab-orative value due to institutional factors.It clarifies the characteristics and practical constraints of the three major transformation directions:industrial investment,ur-ban operation,and capital operation.Combined with typical cases,it extracts specific transformation paths:repositioning,restructuring of business boundaries,and opti-mization of corporate governance.关键词
城投转型/债务化解/市场化Key words
Urban Investment Platform Transformation/Debt Resolution/Market-oriented分类
管理科学引用本文复制引用
任云霄,黄剑云,黄本鑫..政策导向与城投公司转型的路径探析[J].当代金融研究,2026,9(2):48-58,11.
