PPP Project Asset Securitization Process Design And Management Research

After the reform and opening up,China's urbanization process has entered the accelerating stage,people's demand on higher quality of life is increasing,so the public services and infrastructure need further improvement.But the source of local government revenue is limited,so the local government is under considerable pressure.PPP mode provides public goods and services through cooperation between government and social capital,the financial pressure is transferred from government to social capital to a certain extent,and the efficiency of providing public goods and services is improved.As a result,it plays an increasingly important role in the process of urbanization in China.The government also encourages and supports the development of PPP mode by issuing relevant policy documents.Since 2014,PPP projects have sprung up in China,which has become one of the main measures to provide public goods and services.With the development of PPP projects,the demand for private capital in PPP mode is also growing.However,most of the public infrastructure projects constructed by PPP mode are long construction cycle,difficult construction,long cost recovery period and high demand for funds,which to a certain extent limits the participation qualification of private capital and discourages the enthusiasm of private capital to participate in PPP projects.As one of the financing methods of PPP project,PPP asset securitization can solve this problem flexibly to a great extent.Therefore,it is necessary and feasible to implement PPP asset securitization in China.This paper combines literature research with case study.First,it collates the relevant research on PPP asset securitization at home and abroad.Then,based on relevant theories,it proves that PPP project can be well combined with asset securitization,which provides reference and guidance for similar projects,and has high research value both in theory and in practice.Starting from the development process and supervision policy,this paper analyses the development status of PPP asset securitization in China.Based on this,in the following content,the design and management of PPP asset securitization are analyzed in depth,and introduced through cases respectively.In the chapter of the design of PPP asset securitization,this paper first introduces the relevant theoretical knowledge of PPP asset securitization,and then introduces the subject and transaction structure of asset securitization with the case of China Fortune Land Development Company's PPP asset securitization.In the chapter of PPP asset securitization management,this paper first introduces the relevant theories of PPP asset securitization management,and then reviews the relevant knowledge of PPP asset securitization management from the aspects of supervision and management,risk management and so on,combining with the case of Beijing Capital Company's PPP asset securitization.Through the research,this paper argues that the combination of PPP project and asset securitization can be helpful to solve the predicament of large investment and long payback period of PPP project,and provide innovative financing solutions for social capital participating in PPP project,which is of great significance for reference.However,at present,the design and management of PPP asset securitization in China need to be further improved,and there is a lot of room for improvement.