Research On Risk Sharing And Income Distribution Of Sichuan A Expressway PPP Project

PPP mode has been widely applied all over the world,easing the financial pressure for government departments and providing better infrastructure services.Highway PPP project is complex,if the risk and income can not be reasonably allocated,it will lead to the project can not be smoothly promoted,or even fail.Therefore,it is very important to build a scientific and reasonable risk sharing mechanism,provide quantitative basis,and carry out scientific and reasonable risk sharing and income distribution.Combined with the PPP project of A Expressway in Sichuan,this paper studies the risk sharing and income distribution.This paper analyzes the typical cases of PPP center of the Ministry of Finance and the typical failure cases at home and abroad.Combined with literature research,case analysis and Delphi method,the risk factors of highway PPP project in China are identified,and a total of47 risk factors and 36 key risks are obtained.Combined with the actual situation of A Expressway in Sichuan,the reliability of risk list is verified.The risk sharing framework is constructed.The private sector has a certain proportion to accept the transfer risk of public sector’s position and information advantage in the game.When the public sector does not transfer the risk,the private sector takes the risk in order to pursue the interests and promote the negotiation.Based on this,a bargaining risk sharing game model with incomplete information is constructed.With the expert scoring method and game model,the risk sharing proportion of single party and joint party is calculated respectively.Based on the proportion of total risk factors,the paper calculates the income distribution of Sichuan a expressway project.By comparing the actual income distribution results with the risk income distribution results calculated in this paper,the difference adjustment measures are put forward.The project experience is summarized.This paper identifies the total risk factors of A Expressway in Sichuan,determines the key risks,and constructs the risk sharing framework and game model.Reasonable risk sharing,income distribution and adjustment are carried out.Combining risk sharing with income distribution.Fully consider the actual situation of the project.It provides a good theoretical basis and practical significance for the risk sharing and income distribution of highway PPP project.