The Research Of The Investment And Financing Modes In Shanghai Mass Transit

At the present time, Shanghai is in the critical period, when it is speeding up the developments of the international city and the centers of the international economy, finance, trading and shipping. In the sprint of the preparing for the 2010 Shanghai world expo, Shanghai is strengthening the construction of infrastructural facilities on the large scale. After the Government and Shanghai municipality issued the guidelines of giving priority to the development of the urban public traffic. Shanghai has made the mass transit as the pillar of the urban public traffic. Because the mass transit is one of the infrastructural facilities, which are public, need high investment and long return period, it has been an important problem for immediate solution how to get the large number of capital reasonably and scientifically and make the investment and financing channels for Shanghai mass transit. Based on the higher approach and the scale of macro, this paper tries to analyze the specialties and problems of the investment and financing modes for the mass transit through three points of view, and then give optimized concepts and suggestions.In the world aspect, the big cities in the developed countries and regions, not only Paris and Tokyo, but Hong Kong and Singapore, which are similar with Shanghai, all make the mass transit as the principal part of the urban traffic. Although the investment and financing channels all have their own features, the public finance performs the basic, exploitative and bearing functions. While the development of economy, big cities such as Beijing and Guangzhou have strengthen the mass transit, pursuit and practiced how to invest with the leading role of the government and the light-handed touch of other sectors.In the historic aspect, after the reform and opening, in Shanghai the investment and financing have changed from planed economy to market economy, the modes have transited to be industrialized, socialized and globalized. They are all at the same stage with Chinese economy changed from planed to socialism, closed to opening to the world. The modes of the investment and financing have entered to a new stage which changed from the first-level government input to the second-level government input, and then attracted the social capital.In the development aspect, Shanghai municipality has constituted a transportation network plan, which is including 17 lines and 810 km length. It's planed that Shanghai municipality will invest 160 billion to build over 400 km mass transit. To successfully carry out this plan, it is required to build a series of investment and financing modes, which are efficient, scientific and economic.In the consideration of the mass transit's economic features, which are the basic functions to the development of the urban economy and strong socialized publicity, this paper points out Shanghai municipality should enhance the input of the public finance to the mass transit, hold the good chances in the capital markets, gradually actualize the completed list of the profit-making assets in Shanghai mass transit, widen the channels of the investment and financing, increase the proportion of the direct financing, optimize and consummate the modes of investment and financing in the construction of the mass transit, then push the development of the mass transit in Shanghai.