Government financing platform companies or city investment enterprises are not unique to China. There are also special institutions or SPV in developed countries，such as the United States and Japan，which undertake specific government investment and financing functions. Market-oriented transformation and development of the local financing platform companies is the inevitable requirement of market-oriented and industrialized reform in infrastructure and public services，and also the only way to straighten out the responsibility-right relationship among local governments，state-owned enterprises （SOEs） and financial capital. The key points of promoting the market-oriented transformation of financing platform companies are to clarify the development orientation of public welfare SOEs，improve the corporate governance structure，strip the government’s financing function，cultivate core competitiveness，strengthen the feasibility study and demonstration of investment projects，and standardize debt financing behavior. In order to further clarify the responsibility-right relationship between the government and the financing platform companies，and accelerate the market-oriented transformation of the financing platform companies，it is proposed to establish a government-authorized investment system，and to legislate specifically for the financing platform companies.