Research On Risk Control Of Infrastructure PPP Projects In Fujian Province From The Perspective Of Social Capital

In response to the spirit of the central government,Fujian Province has vigorously promoted the application of PPP model in the field of infrastructure since 2014,which thus has expanded the investment and financing channels of public goods,improved the quality and efficiency of public goods supply,as well as achieved remarkable results.However,the risk of social capital participating in PPP project gradually appears and increases under the influence of the imperfection of PPP system framework and legal guarantee at the national level,as well as the ineffective operation of PPP project management and control system of social capital.In view of it,the state has continuously issued policies to regulate PPP projects since the second half of 2017,in which social capital has also paid more attention to the risk control of PPP projects.Under this situation,it is of great theoretical significance and practical value to study the risk control involving in many links from the perspective of social capital,such as the pre-project work,construction,financing,operation,exit and so on.Through reading the literature at home and abroad,field research,and expert investigation,as well as the combination of personal investment practice,this paper starts with PPP policy theory and representative PPP implementation cases in Fujian Province,which focuses on building the infrastructure PPP project risk management and control system of Fujian Province,so as to form a strong operational risk control process from the perspective of risk identification,risk assessment,risk allocation,risk response,etc.In the process of risk identification,several typical PPP projects in Fujian Province are selected for empirical analysis to make the research more in line with the actual situation of PPP in Fujian Province,which also expounds the risk identification methods such as checklist method,WBS-RBS method and Delphi method.In the aspect of risk assessment,the analytic hierarchy process(AHP)and fuzzy comprehensive assessment theory are briefly introduced.In terms of risk sharing,the risk allocation is optimized with full consideration of the implementation process according to the national PPP policy.In the aspect of risk response,it puts forward countermeasures against the identified risks in this paper.At the end of this paper,the PPP project of a large-scale comprehensive management corridor in Fujian Province is selected as a case to make the analysis to combine the theory with the practice,which verifies the effectiveness and operability of risk control theory,such as risk identification and risk assessment Besides,it summarizes and prospects the research conclusions.As for the research results,it is of great reference value to the social capital participating in the PPP project in Fujian Province.