Analysis Of Debt Risk Of Toll Road In Shandong

Road is the important public construction of a country, and plays a supporting role in both national economy and social development."To be rich, the first thing is to build roads" is the real reflection of the importance of the construction to the national economy and social development. In order to meet the needs of the economic and social rapid development to the road transport facilities and change the status that the road development fell far behind the economic and social development, in the year 1984,the State Department made a decision which allowed the local government to loan for building roads and toll for repaying. The policy "Loaning for Building Roads and Tolling for Repaying" expanded financing channels of local road constructions, and greatly promoted the development of the road transport. The bottleneck of the road transport that restricted the economic development in the early stage of reform and opening up had been relieved absolutely. But in recent years, with the rapid development of the road construction and the increase of the mileage, some problems have emerged gradually. In the funds of the tolling road, the bank loan is the most important source. When the peak time of repaying come, large quantities of funds will be needed every year and the pressure will become higher and higher. The risk of investment appears. The toll dues deducting the management fees and curing fees cannot pay for the interest. Particularly since the year 2009, as our country executed the fuel tax reform and withdrawn the charge for the secondary roads, the problems became more and more complex.Facing such difficulties, how to use the policy of "Loaning for Building Roads and Tolling for Repaying" to develop the road construction, decrease the risk of investment and protect the legal rights and interests has become the urgent problem to deal with.The essay comprises four parts. The first part gives the instruction s of the background, significance and the method of this research. The second part introduces some theories related to the toll roads, including the rationality of toll roads, the role that our government plays in the toll roads and the evaluation system of toll roads.