Study On The Practice Of PPP Financing Model In Urban Rail Transit

It has been concluded from long-term researches and practicing that public-private partnership(PPP Model)could effectively combine with the advantages from public departments and private capital in many western states,which provide new solutions for large-scale infrastructure construction.Inevitably it also brings some negative issues on which are worked by researchers.Some of the latest research have been put into practice and get good results.During the process of China's reform and opening policies for more than 40 years,many remarkable achievements had been obtained among kinds of aspects in social economy.At present,urbanization is still on rapid growing way in China,and the state encourages and supports the development of large-scale public infrastructure by PPP model adopting.This is not only conducive to improving the supply efficiency of public products,but also beneficial for private capital to participate in the development and construction of high-quality projects in practice.Theoretically speaking,the public-private partnership model is conducive to the improvement of Pareto and the overall social welfare level.At the same time,some negative problems of PPP model should be solved in the long-term perspective and the attitude of specific analysis.This study aims at construction and operation of Fuzhou Metro Line 2,literature research,expert consultation,actual participation and comparative analysis methods are comprehensively taken,based on the new public administration theory and public product theory,relying on the actual situation and first-hand data of construction and operation of Fuzhou Metro Line 2,through PEST analysis and the existing types of PPP metro construction modes in other cities in China,to discusses the advantages and successes of the construction of Fuzhou Metro Line 2 systematically.Meanwhile,it also provides six existing problems for discussing as followings: 1)protection of ownership;2)public welfare maintenance and income distribution;3)supervision for construction and operation;4)human resource management of the project company;5)risk sharing;and 6)operational security,some reasons are concluded as followings: 1)fixed interest contradiction;2)challenge of intensive management and standardized operation;3)imbalance between department setting and function division of the project company;4)legal system to be further improved;and5)the owner's role to be repositioned in development,and some forward suggestions are expected to be figured out as followings: 1)to improve the relevant current laws and regulations;2)to establishing comprehensive and independent regulatory bodies;3)to sharp the risk sharing mechanism;4)to enlarge the income channel of the project;5)to change the role of government;and6)to set up basic database.