Research On Risk Management Of High-speed Railway PPP Project

Since the Ministry of Railways promulgated the document "Medium and Long Term Railway Network Adjustment Plan" in 2008,many new lines have been built in China.In this case,the traditional way of railway financing,which is the main source of national financial funds,can no longer effectively meet the needs of railway system construction.It provides conditions for the entry of social capital.At present,the main way for social capital to enter the high-speed railway investment and construction projects in China is the PPP mode,which has a complex financing structure,a large scale of investment,it has a long period,many participants and risks throughout the whole process of high-speed railway construction project.China's PPP model has been implemented for a relatively short period of time in China,and the level of wind control of related projects has not yet reached the standard,lack of experience.In this regard,the overall risk management level of high-speed rail PPP project is low.The level of risk management will greatly affect the financing effect of a project,so how to enhance the risk management of high-speed rail PPP project is very important for the success of high-speed rail construction projects.Based on the PPP project model theory and relevant risk management theories,this paper aims to analyze the potential risk factors in China's high-speed railway PPP projects,and to put forward the corresponding suggestions for the actual existing risks.Firstly,the paper discloses the development status and existing problems of risk management of high-speed railway PPP projects,and aims to analyze these actual problems.Secondly,the risk management process is analyzed in depth,the risks existing in the high-speed railway PPP project are preliminarily identified through the analytic hierarchy process and the final risk list is obtained.Then,by referring to the existing cases and literature,the risk management program and the measure to strengthen the risk management and control are established.Finally,the paper comes up with some suggestions for the risk management of China's high-speed railway PPP project from both the aspect of enterprise internal management and the aspect of enterprise external surveillance.As for enterprise internal management,the enterprise needs to optimize the risk management and control level,set up the matching risk management and control measures,and strengthen the risk management and control abilities.As for enterprise external surveillance,it is necessary to urge the government to adjust relevant laws and regulations,improve the efficiency of market surveillance,and thoroughly understand the trend of the market development.