| In recent years,the risk of local government debt in China has become more and more serious,which has brought negative impact on the economic development of our country.To this end,the Sate Council will use the PPP model as an important reform item and vigorously promote it.When the PPP model came to China,its basic concept and mode of operation have undergone some changes.There is no complete framework for the use of PPP model to defuse the risk of local government debt in domestic academic,and the study focuses on its advantages,the research focuses on single object.So,by establishing a cost-benefit model,the paper demonstrates the PPP model has advantages in defusing the risk of local government debt;then use the case of PPP project from different fields and different industry to prove that lack of standardization or increase the risk of local government debt.The research is helpful to improve our PPP model theoretical framework and standardize the development of PPP model effectively.Research from the perspective of standardization,the above cases shows that the PPP model is universal in the use of non standard or increasing the risk of local government debt.As long as in any part of the PPP project life cycle,Any nonstandard behavior may cause trouble for the project.When social investors can't solve these troubles,the related debt or leads to the increase in the risk of local government debt.non standard awareness of the local government,non standard financing and non standard risk sharing mechanism are the most prominent problem of nonstandard behavior at present.Based on the above conclusions and drawing on international experience,from strengthening standards awareness,strengthening effective supervision,strengthening project design and strengthening financial innovation,the paper puts forward some specific suggestions on how the government can promote the development of the PPP model and effectively defuse the risk of local government debt. |
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