| Cooperation between the Government and social capital, referred to as PPP model is an abbreviation for Public-Private Partnership. Usually refers to the comprehensive cooperation between the Government and social capital, jointly completed a cooperative partnership should be the overall operation of public goods and services provided by the government. Although it appeared in the eighties of last century, but only in recent years to PPP has gotits rapid development.The mark of that China launched the third phase of PPP is that State Council on May 7th,2010 Issued by the State Council on Encouraging and Guiding Healthy Development of Private Investment. In third stage, PPP model not only exists in China’s domestic economic activities, but also practice itself in the favor of the central government’s strategy of "the Belt and Road". PPP has gained a quick growth with the central strategy " the Belt and Road " and local program. However, our current policy system related to PPP, especially legal regulation of Project Financing, is not perfect, which severely hampers its development and operation. Therefore, according to China’s development stage PPP Project Financing, combined with the future development needs of our country, analyzing existing problems, learning from Britain, Australia and other countries’maturity experience, I give a comprehensive thinking and vision of improving PPP Project Financing legal regulation path and initiatives.This paper is divided into four parts.The first part is an overview of PPP Project Financing. Starting from the concept of Project Finance, I give thenarrowly definition of Project Financing, and describe the main characteristics of Project Financing and the main mode of financing. On this basis, I introduce PPP Project Financing, and give some necessary exposition on basic connotation and characteristics, producing and development, legal subjects, the main legal relations and other issues.In the second part, comprehensive analysis and elaboration of the status quo of legal regulation of PPP Project Financing and existing problems is shown. In particular,I analyze and provethat PPP has a great potential in China as well as the whole world, which is based on a detailed exposition of the PPP model in China and implement of the strategy of combining " the Belt and Road ". At the same time, a more detailed analysis is describedto give analysis of current PPP Project Financing which is related to the specific provisions of our law, and point out deficiencies and lack of respect in the relevant PPP project finance definition, the legal framework construction, investment and financing model specific requirements, risk-sharing mechanisms and government and social supervision.In the third part, we focus on the specific content related to the existing legal regulation the United Kingdom and Australia’s PPP Project Financing, and from which we made clear reference for our country. In view of Britain andAustralia are the most mature PPP Project Financing countries, this paper describes and analyzes the respective legislative system, risk control, and other aspects of government oversight. I also propose that PPP Project Financing should be run not only to formulate and improve laws and regulations, but also to run with the establishment of supporting the relevant supervisory bodies and other reference views.The fourth part is the core of this paper, a comprehensive exposition of PPP Project Financing to improve legal regulation of specific recommendations is shown in this part. Not only the proposed PPP project finance legal concept connotation should clearly defined, but the relevant legal system and supporting the framework should be improved; not only the PPP Project Financing specific investment and financing methods and requirements should be to improved, but effective risk-sharing mechanisms and its regulatory model and other should be established. |
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