Henan Province Highway Construction Financing Government Management Research

With the deepening of the financial system and financial system reform, our country highway financing model has a single investment by the government, into on the basis of fiscal funds, loan funds as the main body, the introduction of foreign capital and absorb the new pattern of folk capital to be important supplement. At present, the government investment, bank loans, equity financing and bond financing, become the main way of the highway financing in our country, the restriction of the loan time limit, the financing structure there limitations, especially after the highway development, operating income if not meet loan level will directly lead to the stagnation of capital operation; Another serious problem is that the large-scale highway development investment, in the rapid development of highway traffic at the same time, also brought China become the country with the most mileage of the expressway toll collection. In charge of the world’s18000km highway, the Chinese exclusive12000kilometers, the same, in addition to suburban freeway in our province, almost all the highway projects are also on loan. Where a large number of highway project construction, changing traffic conditions, promote local economic development, is advantageous to the local investment promotion and capital introduction at the same time, due to higher levels of highway tolls, also formed certain constraints on economic growth and cause the attention of the society from all walks of life. Therefore, on the basis of the traditional financing model, actively explore a new mode of financing, improve the investment environment, and optimize the financing structure, to promote the sustainable development of highway, lower levels of highway tolls, promote local economic development, is of great significance.The purpose of this research is on the highway in our province each project financing mode, financing structure, investment returns, as well as the conditions of the expressway toll collection, and investigating the influence of the local economy, and the problems were analyzed, and draw lessons from the advanced experience of developed countries in the world, looking for the highway project investment and financing, project charge and the reasonable relationship between the local government fiscal policy, In order to make our province highway enterprise sustainable development at the same time, the lower levels because of high tolls affect the local economy.This article on the basis of a lot of reading literature, each project financing mode selection in Henan province highway as the research object, using the relevant theories of economics, through analyzing a large amount of data, to study the following aspects:1. The construction of highway project financing mode, financing structure, investment returns, as well as the conditions of the expressway toll collection, and investigating the influence of the local economy, and the problems are analyzed.2. Draw lessons from the advanced experience of developed countries in the world, looking for highway project investment and financing, project charges and the reasonable relationship between the local government fiscal policies, in order to make our province highway career can be sustainable and healthy development.3. Through the study of cost-benefit analysis suggests policy, further reduce because of high tolls level of adverse impact on the local economy.