| With11years’constant increasing of national grain production, all levels of granary capacity shortage, especially for the vast majority of county government, is becoming an outstanding contradiction. County granary for local reserves were mostly built before1980’s, since the tax grain system removed in2003, most barns were unused thereafter, fell into disrepair, and nowadays become dilapidated buildings.In order to meet the increasing demand of purchasing and storage capacity in recent years, local governments have to invest funds for the old warehouse renovation or building new barns. But limited funds from local governments can not meet the needs of the construction projects. In addition, the local state-owned grain circulation enterprises as designated units for grain reserves, are very difficult in business activities, such as lack of vitality, low benefit, etc. which also won’t have enough money for granary construction. In order to solve the financing problems, the introduction of PPP mode in the county reserves granary construction projects is a worthwhile way.Through the PPP mode, social capital can be introduced into the county reserves granary construction field, giving full play to the advantages of both government and social capital. Both sides would share benefits and risks, PPP mode could realize diversification of investment and management, not only to meet the increasing demand in capacity, but open a new way for financing and development of China’s county-level grain reserves construction field.This paper carried out in-depth analysis of the investment and operation situation on county granary construction projects by applying the government infrastructure theory, PPP model theory and related knowledge. Firstly, the paper defined that PPP model is a generalized concept, rather than a single model, then taking S County as a case to study its current situation in financing granary projects, and proposed three sub-models of PPP and two traditional models to solve the problems, which are BT model, BOT model, narrow-sense PPP model,"attracting outside investment" model and Shareholding Reform model. Then the thesis analyzed the features of these five financing models separately, and designed five financing operation processes for each of them.This paper established a selection index system and quantitative data for five types of schemes by applying with questionnaire, expert scoring method etc. This paper used the scoring model method to transform the qualitative analysis to quantitative evaluation, optimized the most suitable PPP financing model, Narrow-sense PPP model, for S County Grain Reserve Construction Project. The paper conducted a financial feasibility analysis to the selected most suitable option.Finally, the paper put forward suggestions and proposals in county governments’ measures for PPP model applying to the county level grain reserve construction projects. The results of the study would provide reference and guidance for county-level grain reserves projects in financing by PPP models in China. |
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