Risk Sharing Of Urban Rail Transit Project Under PPP Model

Under the big background of high-speed economic development in our country,with the continuous improvement of people's living standards,quality of life also have a certain demand,at present,China's increasingly serious traffic congestion phenomenon,caused the people to pay attention to the construction of urban rail transit projects,developing urban rail transit has become the most effective measures to ease traffic congestion.The PPP mode(public-private Partnership)enables the government departments and Private institutions to cooperate with each other,learn from each other's strengths and achieve mutual benefits.It can also relieve the financial pressure of the government and provide high-quality Public services for the Public.It has become an effective financing mode for the construction of urban rail transit.In the urban rail transit project under PPP mode,combined with other successful cases,it is found that the establishment of effective risk sharing mechanism by government departments,private institutions and financial institutions is of great significance for the smooth implementation of the project,and the selection of effective risk sharing method is the key factor for the reasonable risk distribution.This paper combines the complete information static game theory with AHP,establishes a set of relatively perfect risk sharing system,and finally determines the specific proportion of risk sharing among government departments,private institutions and financial institutions,which can serve as a reference for project risk sharing.In this paper,the article 13 of the field more authoritative literature summary analysis,combing out the PPP mode in urban rail transit project 39 of more common risk factors,and then summarizes the results of expert scoring method to collect,will be the impact of these risk factors according to their degree of sorting,using ABC classification to classify the risk factors,finally identify the key risk factors,29,the important risk factors for five,five minor risk factors,in this paper,the secondary risk factors for further analysis.The 34 key and important risk factors were used to qualitatively analyze the risk factors that need to be assumed unilaterally by government departments,privateinstitutions and financial institutions,as well as the factors Shared by the three parties through the tripartite complete static game.After classifying and summarizing the risk factors Shared by the three parties,the indicator system was established and further calculation was carried out by AHP method.Finally,the specific proportion of risk Shared by risk sharing parties was summarized as follows: 37.76% of government departments,48.72% of private institutions and 13.52% of financial institutions.Finally,from the perspective of government departments,private institutions and financial institutions,this paper proposes feasible safeguard measures for risk sharing of urban rail transit projects under PPP mode.