Analysis Of The Social Capital In "Handan Science Park" PPP Project

After nearly 40 years of reform and opening up,Chinese society has accumulated a large amount of folk wealth.At the same time,the acceleration of urbanization needs more investment in public goods construction.The Decision of the CPC Central Committee and the Third Plenary Session of the 18 th CPC Central Committee on Certain Issues Concerning the Overall Deepening of Reform allows social capital to participate in urban infrastructure investment and operations through franchising and other means and elevate PPP to the level of government decision-making.The PPP model organically combines the supply of social capital with the demand of public goods,providing a broad platform for social capital to share the fruits of China's growth and development in the future.In 2015,the coordinated development of Beijing,Tianjin and Hebei rose to a major national strategy.With the implementation of the Beijing-Tianjin-Hebei Collaborative Development Plan,Hebei Province needs a lot of investment in infrastructure construction.The adoption of the PPP model has become a new type of investment and financing alternative to government investment in infrastructure construction.The introduction of social capital by the government through PPP projects is conducive to changing job functions,improving the quality of public services and creating new modes of economic growth in the region.However,in actual operation,due to the long period of project investment and difficulties in guaranteeing profits,the social capital is wait-and-see attitude towards PPP mode,and the signing rate of PPP projects only reaches 20 % about.Therefore,taking PPP project in Hebei province as the research subject,this paper investigates the "Handan Science Park " PPP project that has been put into operation and puts emphasis on analyzing the project returns that social capital is involved in PPP mode.This paper first summarizes the literature review of the meaning,classification and key influencing factors of PPP model respectively,and introduces the research content and article structure of this paper.Secondly,the PPP model is analyzed and illustrated from the theory of public goods,the theory of project differentiation and the theory of value for money.The background of "Handan Science Park " PPP project is briefly introduced,the operation flow of the project is analyzed,the investment and financing methods areanalyzed,Source,define the target of income.Thirdly,identify the feasible sources of income of the project,such as the income of project operation and the revenue of government subsidies,and prepare for the subsequent earnings expectation analysis.Finally,based on the existing literature,summarize the principle and mode of income distribution of projects applicable to China's PPP model,analyze the project Income distribution model to estimate the return on social capital.Analysis of the relevant factors that affect the acquisition of corporate earnings,find the project franchise agreement related to tax incentives,the government compensation mechanism,pricing of service charges during the operation period,the financing of government policy flaws and deficiencies in the content.Based on the research of social capital,this paper analyzes the feasible mode of revenue distribution in the process of cooperation with the government and helps the government public sector to grasp the key nodes in the preliminary work of guiding and encouraging the social capital to participate in the PPP mode construction.Corresponding management programs,targeted control and attention,to attract multi-party social capital into our province PPP model project.