Research On Evaluation Of Financial Affordability Of PPP Project In Reconstruction And Expansion Of Lanzhou Sewage Treatment Plant

In China,PPP model is a reform of investment and financing system.In addition to actively promoting the cooperation between the government and social capital,PPP model also effectively expands the way to solve the financing difficulties and expensive financing in the field of public services.Under the supply-side reform,this model eased local fiscal pressure,improved supply efficiency,stimulated the vitality of social capital,and further accelerated the pace of government function transformation.PPP model has many characteristics,such as a large number of links,extensive business,long cycle,huge amount,etc.,so there are many problems and risks in its implementation process.It is necessary to carry out a lot of preliminary work when promoting PPP projects.One of the important standards for the implementation of PPP projects is the financial affordability evaluation,which is an analysis of the financial affordability of the projects,aiming to evaluate the ability of local governments to cooperate in PPP projects.In addition to being an important prerequisite for the normal development of PPP projects,the financial affordability evaluation is an important means to prevent and control the expenditure risk of local governments and limit the hidden debt of local governments.The improvement of people’s livelihood and infrastructure is necessary for the realization of high-quality development.PPP model has been fully used in sewage treatment projects and garbage treatment projects.In terms of such projects,the implementation of the financial analysis in the early stage,the correct identification of risks and main expenditure responsibilities,the comprehensive consideration of factors affecting financial affordability,and the evaluation of financial affordability of sewage PPP projects are necessary conditions for the successful implementation of these projects.In this paper,the reconstruction and expansion PPP project of sewage treatment plant in Lanzhou urban area is taken as the research object.,From the perspective of a third party,by combing the domestic and international research status and related concepts and theories,the status quo of the evaluation methods,processes and indicators of financial endurance of the case is analyzed to reveal the problems in the evaluation process.Aftercarrying out the research and arrangement,the author found that the problems such as insufficient financial analysis,large randomness of expenditure responsibility index,neglect of macro influence factors and lack of evaluation system existed in the financial affordability evaluation of the sewage PPP project.This article uses a combination of qualitative and quantitative methods to measure the two existing indicators of traditional spending capacity and industry and field balance,while supplementing the two indicators of previous financial analysis and macro factor ability evaluation.Reconstructed the financial endurance evaluation system and applied it to the Lanzhou urban sewage treatment plant reconstruction and expansion PPP project,and conducted a four-point index compliance evaluation.It was concluded that the sewage PPP project passed the financial endurance evaluation and demonstrated that it has the endurance.Finally,in view of the problems of the lack of the system,the lack of comprehensive coverage of indicators,and the weak independence of the subject,from improving the scientificity of the evaluation work,establishing a complete evaluation system;enriching the PPP platform information,enhancing the professionalism of third-party review;Improve participants’ evaluation consciousness and put forward suggestions on improving the evaluation of the financial capacity of sewage PPP projects.The study aims to provide some reference and help for the further improvement of the financial affordability evaluation of sewage PPP projects.