The Analysis Of HS Highway Project Financing Risks

Highway is the solid backing which supports the national economic development, the major core of comprehensive transportation system, the important symbol of national modernization, and the measure to improve the international competitive prestige. At present, our country public infrastructure is faced with fund pressure, while the construction of highway project need a lot of capital to operate, BOT as a special financing mode, can certain extent alleviate the pressure of the highway construction fund in our country. BOT financing model originated from foreign countries, it was mature in foreign countries now through long-term development. Because our country finance related laws and regulations are not perfect, the operation mechanism of BOT project financing is still have some problems, there are still many loopholes and defects in the process of implementation, So how to monitor the highway financing risk is an very important subject which need to be solved.At first, the article introduces the HS highway project financing model, emphatically introduces how the HS highway BOT project financing program operate. By researching on the HS highway project financing risk monitoring present situation, the study is based on the HS highway financial data in nearly three years, combined with the actual situation and the questionnaire, identify the HS highway financing risk, and using the analytic hierarchy process (ahp) to calculate the project financing system and non-system risk assessment, it concluded that the HS highway project financing risk profile, Pointed out the four major problems of the highway construction financing:capital structure is not reasonable, lack of project guarantee, lack of effective risk monitoring mechanism. HS highway project should establishment the scientific financing decision mechanism, widening channels of project financing, get more project financing guarantee resources, formulate scientific financing risk monitoring system, strengthen the HS highway project internal control,these five measures can improve the effectiveness of the project financing risk monitoring.