What is the difference between local debt and the traditional local government financing platform model?

Local government financing platform generally refers to the local government investment in the establishment of the local government allocated resources for the local government to integrate a large number of funds for the state-owned enterprises, mostly in the form of investment management companies, the operation of the platform company to integrate the funds, the local government will be detached from the funds for local construction, but from 2009, the state began to limit the financing of the local government platform company, this year, the provisions of no new loans, except for the construction of housing projects housing.