The Study On PPP Application In The Development Of Kunming High-tech Park

Kunming National Hi-tech Industrial Development Park(hereinafter referred to as Kunming Hi-tech Park)has invested much in park infrastructure development for upgrading industrial development.However,Kunming High-tech Park has been facing many difficulties,such as much money needed,heavy public debts,shrinking incomes,new financing unavailable.The Public Private Partnership(PPP)model has been vigorously encouraged to promote infrastructure development.After studying papers on related research topics,the author examined the status quo of Kunming Hi-tech Park development and financing.The problems,causes,opportunities and challenges of PPP applications are studied.Some typical PPP cases are introduced in order to share their experience and lessons.This paper argues that the causes of financing difficulties of Kunming Hi-tech Park are closely related with the scale-oriented development mode.The unlimited infrastructure expansion results in unbalanced cash flow and financing,because the limited revenue of Kunming Hi-tech Park cannot afford it.It is time to change the scale-oriented investment mode.Some adaptable reforms are needed to carry out during PPP application.The key value of PPP is to reform local government's bad investment mechanism and to enhance project management.PPP model is introduced to comprehensively improve investment efficiency and to keep public financial affordability.It also encourages private investment in providing public goods.PPP is helpful to ease financial difficulties of Kunming Hi-tech Park infrastructure development.Some reform measures and suggestions are put forward to better development.