According to the change cycle of the relevant regulatory policies of local government financing platform from 2008 to the present, and the provincial monthly panel data of urban investment bond issuance market and credit spread from 2013 to 2020, this paper explores the influence of economic policy uncertainty on the issuance scale of urban investment bonds in primary market and credit spread in secondary market. It is found that with the increase of economic policy uncertainty, the issuance scale of urban investment bonds increases significantly, and the credit spread of urban investment bonds expands notably. A further study on urban investment bonds in different regions shows that the scale of urban investment bonds in the eastern region expands to a greater extent under uncertain economic policies. Spreads on highrated bonds have increased more in the western region, while those on lowrated bonds have increased more in the eastern region. Therefore, in order to prevent the debt expansion and financing cost increase of financing platform companies caused by the uncertainty of economic policies, continuity and gradualism of economic policies should be maintained as much as possible. Firstly, market research should be strengthened to control the development of the real economy. Secondly, the coordination of fiscal, monetary and financial regulatory policies should be enhanced. Finally, with strong economic recovery, the scale of local government special debt could be appropriately reduced to save policy space, and the use of special local government bonds could be expanded moderately to support the development of financing platforms.