Research On Investment-Return Mechanism Of Municipal Roads PPP Project

From the view of the PPP projects both from domestic and abroad,The Investment-Return mechanism has a significant impact on the success of the PPP projects.Especially,in municipal roads project which is nonprofit,the Investment-Return mechanism is the further key element of decision in whether using PPP mode or not.However,in practice,there are still some problems as follows:First,municipal roads projects is nonprofit,so that there is no payment from the users of the projects.In other words,the local government must use financial fund to achieve the social capitals' return of investment.Second,under the condition of government payment,there is no clear boundary between PPP mode and BT mode in municipal roads projects,which may trigger the political risk in China.Third,how to use the reasonable Investment-Return mechanism to motivate the social capital to improve the work performance in order to increase the public services is also a problem.To solve the problems above,mainly study has been down as following.At beginning,the essence of Investment-Return mechanism in municipal roads PPP projects was be studied,aiming at distinguishing the difference between the government payment in PPP projects and buy-back in BT projects.And secondly,based on the risk bearing,the design principles of investment-Return mechanism in municipal roads PPP projects was be analyzed.And,with value for money as the target,using risk bearing as the economic stimulation method,Investment-Return mechanism could promote social capital improving the performance of work to increase the value of the municipal roads.Third,according for the content and scope of public service in the municipal roads project,literature check,entropy-TOPSIS model and AHP was used to build the indicator system of the performance evaluation.The last,using the case study to verify the validity of the conclusion.The results of research finds that the government payment based on the performance evaluation is the effective way of motivation and conducive to improve the supply efficiency of municipal roads service,and could provide guidance for the local government in municipal roads PPP projects and accelerate the usage of PPP mode in municipal roads.