Analysis On Financing Model Of Urban Rail Transit Based On Track Plus Property PPP Project

With the rapid development of China’s social economy and the steady progress of urbanization,the increasing road traffic congestion in large and medium-sized cities has brought great inconvenience to the public.Urban rail transit has won the favor of society and the public in many modes of transportation,with its advantages of order,speed,timeliness and large traffic volume.At the same time,with the approval of the national urban rail transit gradually decentralized to local governments,the construction of urban rail transit in China has mushroomed.The adoption of the PPP financing model in the construction of urban rail transit provides a new idea for solving the contradiction between its rapid construction needs and shortage of funds.The urban rail transit PPP financing model has played an important role in the construction of China’s urban rail transit investment and financing in the past 10 years.Many cities in China have carried out in-depth research on the PPP model,and this model has also achieved certain development in China.The development of urban rail transit in China has been facing both construction and operation problems:with the rapid development of urban rail transit,the government is increasingly unable to bear its high construction funds;the quasi-public product characteristics of urban rail transit itself It also decided that it could not rely on ticket revenue to make a profit,so urban rail transit has been in a state of operating losses.By analyzing the output benefits brought about by the construction and operation of urban rail transit,it can be found that the value-added of land along both sides of the line,the value added along the line site and the property development of the field,and the investment benefits of the urban rail enterprise are all externalized.To the government or private.If these high but externalized benefits are recovered,the benefits from the development of land property development along the rail transit and the increase in passenger flow caused by property development will be used for subsidies in rail transit projects to achieve their own hematopoietic function.Not only will it ease the government’s financial pressure,but it will also fundamentally solve the problem of lack of funds for urban construction and financing.At the same time,this "track+property development" financing model has predictable and stable property profits,which also greatly attracts private investors to participate in the PPP financing model,thereby promoting urban rail transit to property,investment,financing,construction and operation.Sustainable and healthy development.Based on the analysis of the relevant theories,connotations and problems of the urban rail transit "track+property" PPP financing model,this paper discusses the general ideas,operational procedures and related strategies of the "track+property" PPP financing model.The PPP financing mode of "Track+Property" was applied to the first phase of Hangzhou Metro Line 9,and the vehicle development plan of Changda Road was taken as an example to discuss the property development plan in detail,and the "with or without contrast method"and "Shapely" were applied.The Model Method analyzes the development of comprehensive benefits and benefit distribution.Finally,the paper discusses the risks of the "track+property" PPP financing model,and evaluates the plan to provide scientific guidance for the investment and financing mode of the first phase of Hangzhou Metro Line 9.