Study On Government Subsidy Mechanism Of Comprehensive Pipe Gallery PPP Project Based On Performance Level

Nowadays,utility tunnel plays an important role in protecting the underground pipeline from geological disasters.In recent years,due to the increasing financial pressure of the government,Public-Private Partnership(PPP)mode is widely used in the construction of utility tunnels.However,because utility tunnel projects often demand a long payback period and large investment,it is pretty difficult to make up the construction cost only by charging the user of utility tunnels.In order to ensure that the private capital group can obtain reasonable profits,subsidies need to be provided by the government.In this situation,excessive subsidies are more likely to lead to the expansion of the government deficit.On the contrary,in the case of inadequate subsidies,it is not conducive to activating the enthusiasm of private capital to participate in PPP projects.According to the above,the subsidy system of PPP projects has a significant influence on the smooth running of the projects.In order to harness the motivation of private capital,this thesis takes the level of project performance as one of the most important factors in the construction of subsidy systems.On the basis of systematically sorting out the methods of PPP project performance evaluation and summarizing the key factors in subsidy systems,the model proposed in this paper can be used to calculate the Optimal Subsidy data,which maximize the private capital group profit and social benefit at the same time.According to the results of our study,for the private capital group,once the subsidy system is preset,the optimal performance level of the private capital group is not the maximum one that they can reach.For the government,once the performance level is decided by the private capital group,there exist an optimal subsidy system to maximize the social benefit.In the end,by taking the Beichen Dongdao utility tunnel project in Tianjin as an example,the effectiveness of the proposed model is verified,which provides an optimal subsidy system for the government with limited financial capacity.