Study On Highway Developments Raising Funds & Decision

Presently, the sources of highway capital are much wider than those in the period when our nation appropriated most of the budgetary funds. Nevertheless, according to the long-running development contemplation of the highway in our country, the demand of the highway capital is still very large in the next several decades. Whereas the financing capability of the highway capital system is so limited that it can't meet the need of the highway's construction and maintenance nowadays and henceforth. It is very important for the highway's development to deepen the reform of investing and financing system and develop many kinds of new-style raising money methods which accord with marketable economic operational mode much better and much advanced.As far as the financing work of national Highway's Construction nowadays is concerned, after our analysis and research about it, we conclude that the financing system today can't meet the increasing need of the vast amount of capital invested on the Highway. In order to solve the conflict of supply and demand, firstly, this particle discusses the characters of the national budget investment the emission of stock, attracting foreign capital and invest direct, domestic banks' loan , international financial organizations and foreign governments' loan, and the emission of bond, the BOT mode and other financing manners. Also, the particle analyses the resources of each financing manner and characters concretely. Then, it analyses the scale, cost, construction and manner of Highways' raising project, and it emphasizes banks' loan domestic and overseas , the emission of stock and bond, the attornment of Highway's charge rights, the capital cost of BOT financing manner, and uses the model to calculate the compositive capital cost, then build the worst(in the worst environment hypothetically) and the best scheme(in the best environment hypothetically) accordingly, after the comparison, we can obtain the status of the project's net cash flux, the debt's endurance capability, income and a series of data in any possible state, so that to get the optimized scheme and prepare for the scientific decision. Finally, the particle puts forth the necessity of theinvestment main body multiplying, analyses concretely the characters of the main body of the national investment , domestic commerce and foreign investment, and analyses the relation between every main body. According to the different manner that each main body chooses, different Highway construction chooses different main body. When radicating investment main body, we must insist on the principal of open , justice and equity, mustn't carry on regional protection and industrial monopolism to the investment main body that takes part in bidding, also, we must fight against the black-box operation, cast pearls before swine firmly and punish jobbery sternly.