The Sustainable Development Of Non-toll Roads, Asset Management Study

Non-tolling road is the main part of Chinese highway communication. Research on non-tolling roads asset management plays an important role in promoting the theory system of Chinese highway asset management and highway economy, at the same time it provides a theory basis for the full management of non-tolling road asset in highway management sector, so it is significant in the sustainable development of non-tolling road and the full construction of a rich country. The research has made use of the theory of Public Economics, Highway Economics, Asset Evaluation, the methodology of the combination of macro-research and physical-cases, general analysis and quantitative calculation; analyzed the asset attribute of non-tolling road, the way of recognition and recovery of asset value, funds-raising, asset management system, etc. proposed a creative measure in realizing Chinese non- tolling road asset management.The research began with the analysis of present situation of Chinese highway and non-tolling road, the attribute of highway asset and the value management of highway asset, pointed out the problems existed in the development of Chinese highway; made use of Public Product Theory, combined with the specialty of highway asset, made a scientific definition for the natural and economic attribute of non-tolling highway asset; based on the Theory of Public Product Supply Model, analyzed the main factors which influenced Chinese Highway Infrastructure Supply Model, defined that the government is the main body to supply non-tolling road; through enunciating the theory basis and the inner meaning of three methods of asset evaluation, defined that the replacement cost method would be adopted as the asset evaluation method for Chinese non-tolling road asset.The research pointed out that with the development of Chinese highway construction, we have to adjust the highway construction strategy correspondingly which is related to the basic investment of the national economic development, we should put the emphasis of the management and construction to non -tolling road. The research classified highway as three categories that is tolling and operating road, tolling and returning loans road and non-tolling road, and they would be managed separately, fornon-tolling road asset we should recognize its asset value in accounting way and also recover its value through non- tolling way. The research pointed out that at the same time of establishing the machinism of non-tolling road asset value recovery, we should also manage non-tolling road asset folly through establishing Financial Management System, improving road maintaining system, defining the main management body of non-tolling road, improving the reporting system of non-tolling road.The main results and conclusions of the research as follows:1 > Non-tolling road is the main body of Chinese road asset, it includes non-tolling road built by the national government or the local government using financial funds; non-tolling road built by the donation of business enterprises and social organization as well as the individuals; road for which its tolling period has been due, so tolling has been stopped.2. Non-tolling road has all the attributes of road, also it belongs to special fixed asset. It is part of the state-owned fixed asset, we can use accounting method for its value management.3> The pure public product characteristic of non-tolling road defined that the financing system of it must be to take financial funds and traffic tariff as the main part, and plus other w-ays of raising money.4> When recognizing the asset value of non-tolling road, we have to choose replacement cost method for its value determination. When doing so, we should pay attention not to take the land value into the construction cost of non-tolling road in order to prevent over-stating the national assets.5n The value recovery of non-tolling road includes the construction and maintenance cost. Taking into account the attribute of non-tolling road itself, its construction cost should be recovered by the national finance, and the process of construction is the process of value recovery; its maintenance cost should be recovered by road-users through charging maintenance fees.6 > Strengthening financial management is the important part of managing non-tolling road asset, it includes the financial system of highway management sector; the management of highway funding and investment and the management of highwaymaintenance fund.7^ The trend of improving non-tolling road maintenance system is to make use of market competition.8^ To define the body of asset management and to strengthen asset reporting system is also the main part of non-tolling road management.9^ We could have a trial about the value management of non-tolling road asset from the economically developed eastern area, and by and by to whole China.