Study On The Return On Investment Mechanism Of Highway PPP Model

With the increasing demand for public infrastructure in China,the application of PPP model is more and more popular.The application of PPP model can not only relieve the financial pressure of the government,broaden the source of project funds,but also accelerate the development of public infrastructure.Highway is the key area of the ppp model,not only because of its large investment funds,long project cycle,high technical requirements and other reasons,but also because the project itself has public welfare characteristics,by the general public attention.Therefore,the application of PPP model in highway is paid close attention,the design of its return mechanism is the key part of the project,and the design of the return mechanism and the highway toll pricing are closely related,which is the government,social capital side and the public pay close attention to the content.This paper first discusses the development of PPP model in China,and explains its related concepts and characteristics,and then proves the feasibility of PPP model applied to highway projects from the aspects of china’s policies and regulations,time benefits of the project and the quality results of the project,and also conforms to its own economic characteristics.Secondly,according to the pricing principle of highway PPP project,the main influencing factors affecting highway toll pricing include project cost,traffic volume and project income,project life cycle,user willingness to pay,risk allocation and profit and loss sharing,benchmark rate of return and government fiscal expenditure responsibility.Then the analysis and comparison of the advantages and disadvantages of highway pricing methods at home and abroad,led to the research method sledging out of this paper.Using the multi-objective planning model,the corresponding target function is established in the government,social capital and the public’s interests,as well as their respective constraints,and the charging standard of highway PPP project is measured according to the conditions.Under the pricing system,complementing the dynamic adjustment model of pricing model throughout the life cycle of the project,it is helpful to the rational operation of the project and control it as a whole,and finally studies the case of a highway PPP project in a province,and uses the multi-objective planning model to measure the charging standard of the project.And this standard to analyze the financial affordability of the project and value for money evaluation,thus proving that the model in line with the interests of project participants,in line with the implementation criteria of the project.In summary,it is of great reference to use the multi-objective planning model of highway PPP to determine the project fee standard and provide reasonable suggestions for the implementation of the project.