Study On Expressway Concession Mode

Although China's expressway construction starts late, it is developing rapidly in recent years. Expressway is in a period of the current industrial expansion, China has relatively low level of economic, so governmental investment alone can not meet expressway construction's needs. Actually, non-governmental funds such as private capital and foreign investment involved in highway concession are operating an effective way. In its implementation process, the concession operating mode changes with a variety. of factors such as the specific geographical patterns, socioeconomic conditions, the level of scientific and technological development, so it is necessary to explore the mode suited to China's national conditions, to provide reference for new expressway concession projects.Based on the theoretical basics of expressway concession, the paper introduces expressway concession which is operated abroad, and analyzes the current situation and development of China's expressway concession, then explains why domestic expressway concession is necessary for our country. At present, expressway concession main modes include BOT mode and TOT mode. Based on the expressway property theory, according to the difference of operating coefficients , China's expressway will be divided into Non-operating expressway BOT₁ mode, Quasi-operating expressway BOT₂ mode, Pure-operating expressway BOT3 mode; According to the difference of competitive discriminant value expressway under three BOT modes is divided as private property, public goods, resources and natural monopolies. In the implementation process, choice between BOT and TOT should be considered with local practice. This paper also proposes a basis for choosing between the two modes and among the three BOT modes according to local situation. Finally, expressway concession in Henan province is taken as an example. From the perspective of regional advantages, market-oriented, analysis of the mode chosen for expressway concession is given.