| Rail transport is a public good no doubt, because of its high cost of land in urban areas not occupied land, and can facilitate public travel, efficient, convenient, and safe and become China’s major cities to solve traffic congestion a medicine. Chinese central cities have begun a large-scale rail transit construction. However, the high cost of rail transit construction, post-service requirements, diversification of property rights, but also for large-scale construction and operation of a very high level of service requirements.From the current perspective, the majority of government rail transit Construction Company responsible for the establishment of professional construction and operation of social, economic good, coupled with lower risk, commercial banking services has become the focus areas. Large urban rail transit construction road from the entire rail network construction, specific to the cave excavation, laying of tracks and facilities, vehicles, station construction, operation and maintenance, etc., involves many aspects, to ensure quick construction, post-operation services there is continuity, in addition to specialized companies design, construction, operation and management, the construction of large capital requirements for local governments presents major challenges. Commercial banks how to use the functions of its financial intermediation services for urban rail transit construction to provide comprehensive financial service mechanism, it is worth a systemic study of commercial banks. With the acceleration of the process of financial globalization, China is now the sense of the commercial banks, especially large state-owned commercial banks to become a global sense of the bank, his services can be extended to the world, but he can also be derived from the global funds. This is China’s large rail transit construction using the global financial platform provides a wide range of financial services, making bank and win possible.From the perspective of theoretical research, the characteristics of public goods to be analyzed, that the government should provide free services, in addition to government investment, but also by the large-scale involvement of commercial banks to solve the feasibility of how he, how the public sector to use its resources for commercial banks to intervene to provide the necessary guarantees and commercial appeal. It is necessary to fully study the relationship between government and the market, to study the principle of sharing of public goods. Government in order to expedite networking for the public to provide efficient and convenient services, the public interest in a monopoly in a portion to share. For commercial banks, the single domestic credit services from a variety of regulatory requirements, examination requirements, public disclosure requirements see, are unable to meet the large-scale urban rail transit construction. But in today’s popular financial innovation in the global economic downturn today, based on a new global framework for public finance theory, by whom, by what means to raise funds to solve the problem? How to configure before funds are both effective and fair. Rail transit construction of a high demand for investment funds under the profit-driven world will become an object. In our existing state-owned commercial bank management model of urban rail transit construction feasibility of the mechanism of financial services, economic, social, and specific patterns of innovation will become focus of this study.Ours is a typical large population, urban public transport pressure one of the countries, coupled with economic reform, large numbers of people into the cities, much urban transport capacity has almost reached the edge, the state proposed to increase the implementation of public transport infrastructure construction; hopes more repair rail transport to ease traffic pressure. After the party’s18, based on the national economy and large-scale infrastructure investment in China will be the focus. But based on current form, in accordance with the existing model is difficult walking. As the next step to continue reforms continue, the functions of government will be further changed. Of weak economic foundation, the subsequent huge demand for funds, how to provide quality and quantity of service to the community quasi-public goods would be a problem.This paper intends to supply of funds from commercial banks to rail transportation perspective, I hope from the basic theory of historical evolution domestic analysis, alignment of large state-owned banks to provide innovative models of public goods, products and systems, based on the whole society to get a comprehensive, more social play multiple main mode of financing. Therefore, the state-owned commercial banks to provide public goods to China’s financial services model innovation research-In case of urban rail transit has a very important topic of theoretical and practical value.Article is divided into9chapters; the specific content of each chapter is as follows:Introduction:The research background was introduced, problems and significance of research ideas、the main contents and methods of analysis and its major innovations were put forward.Chapter1:Economic theory of public goods financing mode. Under the public finance theory of public goods, describing the finance theory as net income theory, MM theory, the trade-off theory, pecking order theory and abnormal pecking order theory; analysis attributes of urban rail transit public goods as items distinguish and economic of external effects.Chapter2:The theoretical framework of public goods financing. Analysis of government and market positioning in public goods financing, and related entities under external perspective and its basic responsibility to finance public goods, as well as the basic principles of the game in perspective.Chapter3:Concept, classification, characteristics, development policy and the status of urban rail transit.Analysis the concept, classification, characteristics and social functions of urban rail transit.Introduced China’s urban rail transit history and development from a planned economy to a market economy.Chapter4:The financing model of urban rail transit. Urban rail transit has funding needs, long cycle characteristics, a number of major domestic cities have different financing channels and financing model in Hong Kong, Shanghai, Guangzhou, Chengdu and Beijing using, but it mainly has the following overview of mode:direct government investment as the mainstay of the local mode; debt-based financing model to the main government financial guarantees and investments diversified financing model.Chapter5:State-owned commercial banks and their positioning in urban rail transit financing mode. First, the state-owned commercial banks were defined and a brief history of its development, from the banking business perspective, presented the main business of state-owned commercial banks are still lending. And introduced the basic situation and the excsited of economies of scale, economies of scope, absolute and comparative advantages of state-owned commercial banks, and then made conclusions that rail transit construction business need more state-owned commercial banks.Chapter6:Problem of urban rail transit financing system. First, Proposed financing system of urban rail transportation problems such as investors remain single, narrow financing channels, etc.; second, analysis of China’s current urban rail transit modes and innovative financing issues, demonstrate innovative financing model of urban rail transportation needs of state-owned commercial Bank.Chapter7:The typical pattern of urban rail transit financing experience in the world’s countries. The Introduces the rail transportation financing model in London, New York, Tokyo, Singapore, Germany and the Philippines, and financing major urban rail transport mode experience are summarized.Chapter8:Innovative state-owned commercial bank financing model of urban rail transit services. First proposed under finance capital and debt funding of the basic model and innovative ways, specific proposed BT loans, overseas financing, buyer’s credit, domestic bonds, foreign debt, equity and trust bonds, finance leases, and supply chain financing suggestions; cointegration build rail transportation industry funds; open capital market financing; assist government policy to foster innovation and state-owned commercial banking services and so on urban rail transit financing model.Chapter9:policies and proposals. First, the financing model of urban rail transit improvement and innovation, including funding to improve rail transport system and urban development of rail transportation in accordance with the different stages of the implementation of the financing strategy of differentiation; Second, innovative commercial bank risk management of urban rail transit facilities, including credit asset securitization and the interest rate market.Innovation of the research:First, established a theoretical framework of state-owned commercial bank’s position and operation in financing hierarchy of public goods under new circumstances; Second, innovatively analyzed the financing mode of urban rail transit construction provided by state-owned commercial bank’s,summarize the characteristics under new circumstances and gives a solution of relative policies. |
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