The Study On Financing Practice Of Construction Of Characteristic Town In Tangxia Town Of Jiangmen City

In recent years,the central government and the governments at all levels have strongly advocated the construction of characteristic towns,not only to promote the supply-side reform under the new normal background,but also to give full play to the radiating and driving role of urbanization in rural construction.The construction of characteristic towns emphasizes the integration development of production,life and ecology,which determines that the large amount of money they need to invest in the construction is apparently insufficient by relying on the traditional financing mode of government financial support and bank credit alone.The governments at all levels regard innovative financing mode of small towns as an important breakthrough in transforming their functions and guiding the flow of social capital,have increased policy and financial support and achieved some results.However,in general,the intervention of social capital in characteristic towns still focuses on the development of real estate in pursuit of the appreciation of land assets,and there is little intervention in the construction of infrastructure and the development and operation of tourism industry in small towns.In view of this,it is of great significance to actively explore new investment and financing modes such as PPP mode and to diversify the sources of funds for the construction of characteristic towns in China.By taking the strategy of rural revitalization and new rural construction as the background,introducing the social capital into the infrastructure construction of small towns as the basic idea,and using Tangxia Town's successful declaration of the Second Batch of National Characteristic Towns as the opportunity,this paper firstly lists nine common financing modes for the construction of characteristic towns,and then analyses and compares their characteristics and scope of application.Through the field investigation,the current situation that the industry development funds are sufficient but the tourism development financing is difficult can be understood.By combining with the characteristics of the financing projects and the application scope of PPP mode,it is regarded that it is feasible and necessary to use PPP mode financing in the construction of characteristic Tangxia Town,the specific financing implementation plan for which is designed.Finally,the key and guarantee of the implementation of PPP project are summarized.The main research is reflected in the following aspects:The nine common financing modes of characteristic towns are systematically combed and a comparative analysis has been conducted to determine the scope of application of various financing modes from the aspects of capital demand,financing threshold,ownership structure,project management rights,etc.According to the successful experience of financing cases at home and abroad,the operation modes and advantages and disadvantages of different financing modes are summarized.By combining with the goal of Tangxia Town to build a characteristic town,analyzing its financing characteristics and taking into account 's investment proportion,risk sharing,benefit sharing mechanism,performance appraisal and capital recovery methods,etc.of the PPP model project,this paper tries to design a complete implementation plan of Tangxia Town's financing project.Based on a series of reasonable assumptions of PPP project parameters in Tangxia Town,the cost and profit of project construction and operation are determined,and the time limit of fund recovery,profit of franchise period and internal rate of return of the project are calculated,which serve as data indicators for government and social investors,and also provide the reference for the estimation of various indicators for the project of the same type to introduce PPP.