Research On The Decision Of PPP In County-level Municipal Infrastructure Projects

In recent years,with the rapid development of urbanization in China,the gap between urban and rural areas has been increasing.The new urbanization should focus on the county-level cities with a certain population and industrial base.The new urbanization will undoubtedly increase the construction and capital pressure of the county-level municipal infrastructure.However,the local fiscal policy has been tightened up and the pressure of local financial funds has been great under the new normal of economic.With the diversification and rapidness of the county-level municipal infrastructure needs,the traditional government has been unable to meet the needs.It has become a problem that must be solved in the development of new urbanization to innovate the investment mechanism and realize the effective supply of county-level municipal infrastructure.The PPP mode provides an idea to innovate the investment mechanism and realize the effective supply of county-level municipal infrastructure by the introduction of social capital.The continuous accumulation of PPP's successful experience and the development of local economy and the improvement of the system have laid a foundation for the application of PPP in county-level municipal infrastructure.The popularization and application of PPP has become an important measure to solve the supply problem of county-level municipal infrastructure in the process of new urbanization.However,PPP is not a panacea,but also has shortcomings such as high cost,high risk,and long time.However,given the obvious advantages of the PPP model,some governments and public sectors tend to adopt the PPP model directly when selecting the infrastructure project operation model,especially when the county government has greater financial pressure and relative shortage of funds.This thesis will be expected to provide an effective reference for the application of PPP in county-level municipal infrastructure through the analysis and study of existing theoretical knowledge and practical experience of PPP model,promoting the popularization and application of PPP in county-level municipal infrastructure.Based on the combing of the related PPP theories and literature,this thesis analyzes and summarizes the decision-making problems of PPP in county-level municipal infrastructure projects combining with the application status of PPP Mode in county-level municipal infrastructure projects,and puts forward that the evaluation method of PPP projects should be improved first in the early stage of the application of county-level municipal infrastructure PPP projects,so as to promote the effective promotion of county-level municipal infrastructure and avoid the blindness of local government construction.On the basis of literature review,this paper further optimizes the value for money(VFM)evaluation model of PPP projects in municipal infrastructure combined with the existing policy.Finally,the feasibility and applicability of the optimization model are verified by the case of municipal infrastructure PPP project in W County of Henan Province,in order to provide a reference for the decision of county-level municipal infrastructure PPP projects.With the advancement of new urbanization,the state will continue to increase the support for small and medium-sized towns such as county towns,the attention on the application research of PPP in the field of county infrastructure will continue to increase.The thesis hopes to provide an effective reference for subsequent application research.