| In the process of national economic construction,infrastructure construction plays a crucial role.Chinese infrastructure construction is still at a stage of development.Government are aware of the importance of infrastructure construction for promoting economic development and stimulating industrial investment.Comprehensive utility tunnel construction is an important part of urban infrastructure,the perfection of construction and the improvement of service quality have a great influence on urban infrastructure construction and residential housing life.However,there are many problems in the financing phase of infrastructure construction.By research and experience,it is found that only suitable scientific and rational financing methods can promote the construction of infrastructure projects.Since the end of 2013,PPP has been promoted as a new thing and attached great importance.The areas and scope of PPP are also expanding.Each country is concerned about PPP.PPP is a way for government agencies to collaborate with social organizations to provide public goods,and to achieve the responsibilities of government agencies while benefiting social organizations.In fact,there are many PPP projects in China.However,there are many failed PPP in the process of economic and social development.Because of the long term and the strong demand for funds,PPP projects have a relatively long payback period,It also has raising pressures,narrow channels,and low returns.At present,Rely on bank loans and the establishment of industrial funds to solve the funding needs is the financing method of Chinese PPP projects.Compared with bank loans and industrial funds,asset securitization products have the characteristics of risk isolation,credit enhancement,structural stratification and strong liquidity,which can combine PPP projects and asset securitization to become a bargaining chip for PPP project financing.As a new financial innovation tool,asset securitization can improve the liquidity of project assets and solve the problem of high asset-liability ratio.Considering the combination of PPP project and asset securitization can lead good results,we try to take "PDS City Comprehensive utility tunnel construction Project" as an example to study the financing of Comprehensive utility tunnel projects under the PPP asset securitization model.We mainly do the several jobs:First,review the definition and development of PPP model and asset securitization,discuss the theoretical background and application at home and abroad.Then guided by the macroeconomic policy,based on the theory of financial management,take the case of the PDS city comprehensive utility tunnel project as the research object,discuss the financing problem of the comprehensive utility tunnel.According to the analysis of the financial situation and financing strategy in the case,summarize the management level of the infrastructure construction and financing difficulties.From the microscopic financial perspective and the macroeconomic policy,formulate a suitable method for comprehensive utility tunnel,which is named the financing mode of PPP asset securitization.The highlight of this article is the combination of strong theoretical basis and empirical case analysis,which shows that a reasonable and effective PPP asset securitization financing method is of great significance for solving the financing of comprehensive utility tunnel.It also show that the Chinese market will pay attention to and look forward to the asset securitization of PPP projects in the future. |
