Research On Application Of Urban Rail Transit Financing Mode Of PPP

After the reform and opening up,China’s urbanization process faster and faster.More and more people into the city caused by urban traffic congestion,environmental pollution,to a large extent affected the living standards of urban residents and economic activities.The development of rail transit is the current urban population situation and the inevitable situation under the land choice.The construction of rail transit as part of the urban infrastructure construction,of course,should be the responsibility of the government.However,the government funds that are very tense are difficult to bear the high cost of construction and operation.At the same time,due to the large amount of rail transit investment,long construction period and low profitability,it is difficult to form a strong attraction to social investors.It can be seen that capital is the bottleneck restricting the development of urban rail transit.Since the second half of 2014,the Ministry of Finance and the Development and Reform Commission have vigorously promoted the government and social capital cooperation(PPP)model,through a good system design,the model can effectively solve the urban rail transit development process of funding.Based on the related study at home and abroad,starting from the basic theory of city rail transit PPP financing mode,firstly analyzes the necessity of the financing mode of Chinese city rail transit PPP applications,and then in-depth analysis of the Beijing Metro Line 4 PPP project,from the project the main participants in the point of view of project success and other items from the view of the project experience,from a fiscal point analyzes the possible problems and solutions are given.Then focus on the city rail transit the child is father of the man,the application of PPP financing mode in our country from the government level,project level and market level,put forward two application difficulties: laws and policies are not perfect,the government function is not effective,income uncertainty is high,the project risk sharing mechanism is not mature,the financing conditions of social capital poor,market supervision mechanism is not perfect.At the end of this paper,in view of the above application difficulties are put forward to strengthen the legal policy,the positive transformation of government functions,broaden the channels,improve the project income risk sharing mechanism and establishing and perfecting the supervision mechanism,to create a good atmosphere of financing solutions and make a conclusion and prospect.The detailed structure of this paper is as follows:First,introduces the research background and significance,research purpose and research methods and research content;secondly,review the basic theory of city rail traffic PPP model,including the definition and function of city rail transit and explains the origin and development of PPP financing mode,and the definition of PPP financing mode and other traditional financing modes compared again;and analyzes the necessity of the financing mode of Chinese city rail transit PPP application;then,in-depth analysis of Beijing Metro Line 4,the success of PPP project,can learn from the experience and may encounter fiscal problems from different angles,finally rose to the level of application of city rail transit PPP financing pattern in our country and puts forward some application difficulties and solutions are given,to provide a reference for the PPP project;finally,make the conclusion and prospect.