| At present, China has become the world’s fastest growing urban rail transit countries, but because of the high cost of urban rail transit, construction investment,construction period is long, difficult to profit characteristics, most of the projects are facing capital shortage, High interest payments, and unacceptable operating revenues and expenses. In 2014, the Ministry of Finance to promote the PPP model, the State Council also issued a "key areas of innovation on investment and financing mechanisms to encourage social investment guidance" to encourage the promotion of the use of PPP model. PPP has the advantage of using social idle funds and improving the efficiency of public goods supply. In recent years, PPP has been widely used in the field of infrastructure. Under the new budget law and the State Council Circular 43, the PPP model has become an innovative channel for urban rail transit financing, to resolve the local government debt risk, to solve the problem of insufficient funds and other financial resources. High hopes. However, despite the great attention given by the state and given a lot of policy support, at present, China has 39 urban rail transit city, only a few cities to take the urban rail transit PPP model. Therefore, it is of great theoretical and practical significance to explore the triggering factors of PPP in urban rail transit and provide theoretical references for the successful implementation and control of urban rail transit PPP projects.In the aspect of theoretical analysis, this paper argues that the differences in the promotion of urban rail transit in different cities are the result of the decision of local governments and private sector to adopt / participate in PPP mode. On the basis of identifying the core stakeholders in PPP mode, the PPP. operation and decision-making process models of public and private are established, and the factors that may affect the decision-making results are summarized and the urban rail transit PPP mode The influencing factors in the stage are divided into four categories: external environmental factors, local government factors, project factors and private sector factors, and the mechanism of the factors of the mechanism were analyzed. And then according to the purpose of this study, the impact of some factors put forward the theoretical assumptions.In this paper, the Probit model is used to analyze the urban cross section data in 2015, and the factors such as urban rail transit market conditions, local government financial pressure, local government administrative level and special geographical location are used to evaluate whether the local government adopts urban rail transit PPP Mode and urban rail transit PPP project can successfully complete the impact of procurement. The empirical analysis provides strong support for the assumptions made by theoretical analysis. Finally, the conclusion of relevant research policy is put forward. |
