Research On Allocation Of Property Rights Of Large-scale Stadium Based On PPP Operation In Chongqing

There is no a unified and fixed pattern because the operation and management of public stadium is a worldwide difficult problem. China is a country with a large number of stadiums, the stock of public sports venues across the country is growing rapidly in recent years, especially in Chongqing. Currently operating stadiums still follow the traditional mode of government administration. Operational management mechanism of sports venues is backward, resulting in low utilization and fuzzy definition of property rights of venues. At the same time, it also cause weak service capabilities, poor operational effectiveness and supply funding gap, especially significant operation and maintenance costs of large-scale stadium caused heavy financial burden to the government.In order to the rational allocation and efficient use of venues resources, improve the efficiency of sports resources and achieve win-win social and economic interests in the venue operations, the issues of allocation of property rights of stadiums is particularly important. PPP is the contractual partnership that the public sector and the private sector to provide public goods or services. PPP will not only be able to solve the bottleneck problem of funding public goods and break the traditional government monopoly management, but also can achieve effective integration of social and economic benefits.By objective decomposition and analysis of PPP project operation mode, the paper explores the nature of the relationship between the government and social capital in the process of cooperation, mainly reflected in the contract conflict, which namely allocation of property rights of the projects. According to the nature of quasi-public goods for stadium, the paper argues property rights system of stadiums is mainly composed of important rights of ownership, possession, use, usufruct, disposition, franchise, equity, control and supervision from the theory of economics of property rights and control rights.Based on the theoretical analysis, combined with existing research results and typical case analysis at home and abroad, the paper draws the following conclusions: ①The allocation of property rights of stadiums on PPP operation is clearly define the property rights of venues to the public and private sectors who participate in the operation and management of sports facilities through legal and licensing agreement. ②In public and private allocation of property rights of sports venues, this paper puts forward that it should be according to the basic principles of allocation of property rights, requirements of specific venues and the situation of resources input by both sides, determined by comprehensive analyzing and measuring the influence of key factors, including the nature of venues assets, the degree of public products, the judgment of the social and economic value of the expected benefits by partners and the importance of the principal investment, etc. ③The paper puts forward that allocation of property rights of sports venues includes three processes of the initial distribution of property rights, the readjustment of property rights in the franchising period and the transfer of property rights when the franchise expires. The ownership, supervision and final disposition rights of stadiums are enjoyed by the public sector, the possession, use, franchise and a small amount of disposition rights of stadiums are enjoyed by the private sector, the equity, usufruct and control rights of stadiums are shared by both public and private sectors. Then, according to the PPP reform implementation plan of Chongqing and related policy documents, the paper designs the allocation of property rights for the Chongqing Olympic Center on PPP operation.This paper has been supported by the National Social Sciences Foundation Project——Study on the cooperation mechanism in PPP Project in Western Region(No. 10XGL0009).