A Study On Investment Management Of Chinese Urban Rail Transit System

As a main theme of urban infrastructure construction, China has witnessed a new high development in urban rail transit since the 21st century. Major cities have established large-scale rail transit network planning, and the construction of urban rail transit will play great role in the cities'economical and social progress, but also bring unprecedented challenges.therefore, the study on how to enhance investment level of urban rail transit for local government will of great practical and theoretical value.Aiming at optimizing management of urban rail transit investment, the dissertaion defined the concept of urban rail transit investment management, analyzed the development benchmark of construction of urban rail transit and factors influencing the optimal size of construction, described the choice status of governance development mode chosen by major cities, and discussed the factors influencing the choice of different governance development mode. On the basis,the dissertation developed a strategic framework of urban's governance development mode choice, and make an empirical design with wuhan as case. The contents are in detail as follows:(1) with the combination of public investment theory and management theory, the dissertation defined the concept of rail transit investment management and pointed out its characteristics as follows:government is core subject in the investment management, and development benchmark, development scale and the choice of governance developmental mode compose three core management task. of that government investment in urban rail transit construction management of the(2) On the basis of foreign research documents on population condition and economical condition, the dissertation discussed the maturity of the conditions for urban rail construction in Chinese major cities.(3) the dissertation constructed the multiple regression model of development scale in urban rail transit, and the empirical results suggested that population density and infrastructure investment significantly affect the scale of development respectively, from the perspective of demand and supply.?(4) with transaction cost theory as the theoretical basis, the dissertation explored the economic characteristics of PPP in urban rail transit, and dismantled the four composing elements of governance development mode, and summarized the four characteristics of different types of governance models:emphasis on fairness or efficiency, production of cost, transaction costs and financing cost. With the Integration of transaction cost economics, organizational capacity theory and the public goods theory, the dissertation proposed 12 factors influencing the choice of governance development mode.(5) The dissertation developed the two-stage selection model of governance development mode choice for local government. In the first stage, the study proposed the matching table between factors and type, made case study on three cities the results of which proved the matching table, and design the structure of the utilization of BPNN model in the choice decision. In the second stage of selection, the dissertation gave the risk allocation strategy proposal under the given type.(6) as a result, the dissertation made the judgment on the development condition maturity and planned scale of Wuhan rail transit, discussed the rationality of the current governance development mode in Wuhan urban rail transit investment, and make proposal on stage about the future governance development arrangements during 2010-2020.