Analysis Of Legal Risk Prevention Mechanism On The Public-private Partnership Asset-backed Securitization

Since the government and social capital cooperation mode has been stimulated by the policies of the State Council and relevant ministries and commissions,the number of various projects has been quite considerable.Due to the limitation of the investment mode’s long cycle and instability,the combination of PPP mode and asset securitization is highly regarded as a creative attempt.Contrary to policy expectations,the two-tier market’s enthusiasm for investing in PPP’s asset-backed securities has not reached the desired level.Why? Risk is the most important influence factor of the system,except the conflict of interests between government and enterprises is the core of the problem.It is necessary to reconstruct the balance between public and private interests in the framework of self-restraint.On the current PPP-ABS risk prevention mechanism,the author puts forward the readjustment of public-private partnership ideas at the level of interest balance and puts forward three suggestions in terms of institutional level,namely,regulating the exercise of rights,disclosing information,and withdrawing from the system.In terms of structure,the first chapter takes the failure case of the Hangzhou Bay Bridge project as the breakthrough point,analyzes the project background and transaction structure,and abstracts the risk from the present to the academic level.The second chapter starts with the history of PPP-ABS,analyzes the risk prevention system itself,and explores the institutional causes of the main risks.Finally,the fourth chapter,combined with the particularity of PPP-ABS,reveals the pain points of the current mode,and puts forward constructive suggestions from three perspectives:guiding ideology,concept definition and system adjustment,hoping to provide some academic contributions for its subsequent practice.Finally,the fourth chapter,combined with the particularity of PPP-ABS,reveals the pain points of the current mode,and puts forward constructive suggestions from three perspectives: guiding ideology,concept definition and system adjustment,hoping to provide some academic contributions for its subsequent practice.