Study On Risk Assessment Of PPP Financing Mode Of Urban Infrastructure

With the reform and opening up and China's accession to the wto,the economy has been developing rapidly,the society has been making continuous progress and people's living standards have been further improved.Cities put forward higher requirements for infrastructure construction.At the same time,the government's high investment in infrastructure and high consumption of resources results in inefficient operation,and it has become a worldwide concern.In the face of increasing capital pressure,the government is gradually committed to the reform of urban infrastructure investment and financing system,increasing investment efforts and mobilizing the enthusiasm of social capital to participate in investment.PPP financing mode is a new financing mode,It effectively combines the policy support of government departments and abundant funds of social investors,introduces advanced technology and efficient management experience in urban infrastructure,and gradually develops in China's infrastructure projects,becoming the most popular project financing mode for infrastructure projects.As an emerging financing mode,whether it has applicability in the field of urban infrastructure and how to operate this financing mode has become a common concern of the public and private sectors.In addition,in the process of project construction and operation,there are many uncertainties compared with general projects.Therefore,the management of financing risk is the basis for social investors to consider whether to invest or not.It is of great significance and value to study the application and development of PPP financing mode in urban infrastructure projects in China.On the basis of reading a large number of journal literatures,doctoral theses and newspapers and books,this paper combines qualitative and quantitative methods,elaborates relevant theories and verifies them with specific cases.Firstly,problems are raised through the research background to express the importance of the study on PPP financing mode of urban infrastructure.Starting from the theory,this paper summarizes the relevant theories of PPP financing mode,and then focuses on analyzing the applicability of PPP financing mode in infrastructure projects under the current situation,the financing structure of PPP mode,the interest relationship of each participant and the operation procedures of PPP mode.The third chapter mainly introduces the relevant theoretical knowledge of risk management of PPP financing mode,establishes a multi-level grey comprehensive evaluation model to evaluate the risk level of risk index,and how toreasonably share the risk.The fourth chapter takes hefei subway line 2 as an example to conduct an empirical study,which verifies the operability and effectiveness of the evaluation model.Finally,policy Suggestions are put forward for the sustainable development of PPP financing mode according to the defects of the current PPP financing mode.The study in this paper not only complements the PPP financing mode in theory,but also has great practical significance to some extent,providing reference for Chinese cities that have not yet built metro to use the PPP financing mode to invest in metro construction.At the end of the paper,some deficiencies of this research and a good prospect of future development of PPP financing mode in infrastructure are mentioned.