The international rating company Standard & Poor's has released a report that lowers the long-term credit rating of Jiangsu Xinhai Lian Development Group, fully highlighting the radical financing strategy of China's local government platform has attracted the attention of international rating agencies. Anbound researchers believe that the S & P's views are highly indicative. The local government has taken many risks of macroeconomic adjustment. In the context of marketization, these direct or indirect pressures will be reflected in the market rating and financing costs of local government debt and its financing platform. It is true that the Central Government needs to rely on local governments to promote economic growth; it may be in its reasonable financing needs to provide some indirect convenience. However, in the balancing process of the Central Government’s realistic tasks, the future of local government financing will bear some pressures.