A Study On BT Financing Model Of Urban Subways

With the speeding up of China’s urbanization advancement，the penetrationof cars promoted step by step.At the same time, the low efficiency of roadallocation and the structural defects of the urban road led to the traffic problembecoming increasingly prominent in many cities of China. To solve this citytraffic problem, on the one hand,we hope to promote the increase of roads andthe efficiency of the road distribution, on the other hand,many cities have beenfocused on the build of the urban metro.The construction of urban rail transit needs a great deal of money, howeverthe government funding is increasingly scarce, so that the government of theconstruction mode is not completely adapt to the scale of urban infrastructureconstruction. To solve this tricky situation, more social capital should beattracted to the construction of urban rail transit which can improve theinfrastructure construction and social benefit. BT mode with its powerful functionof financing,cash management in the infrastructure field,is get more and moreapplication in construction, especially in some filed that is lack of profit andpublic utilities.This paper is based on project management theory and economics theory,with the adoption of demonstration research and norms research. Firstly, startingwith the financing theory of BT model, this paper introduces the BT model’sconcept, basic characteristics, significance, financing mode, operation processand risk management, analysis in the actual operation of the risk identificationand control method, study how to use insurance and guarantee measures toproject financing risk management. And then, in the basic theory research, takingNanjing airport section of the BT project for the actual cases, focus on theresearch on the BT mode of operation of the actual situation, and analyzes therisk allocation and management. By combining the theoretical analysis and caseanalysis, it pointed out the China’s urban rail transit BT project problems and risks, and then finally give some Suggestions.Through the combination of the case study of Nanjing airport section BTproject and the related theory, this paper explain the applicability, importance,feasibility and necessity of BT model in the urban rail transit construction project.This paper also deepen the understanding of the BT financing mode, guide a rightroad for the local urban rail transit construction project investment and financingwork, and it is useful for the further research and extension of BT model.