Theoritical Explanation And Policy Choices Of Road Toll In China

As an important policy of the development of China’s highway traffic infrastructure construction is introduced, during the 30 years of development, the achievements of road toll policy have been recognized. China’s central and local government financial resources were insufficient, with the support of highway toll policy, bank loans were repaid and the commercial capital gains a lot, and brought a miracle of China’s highway construction.the high-speed development of Chinese economy make the public to enjoy the four Octopus transportation services at the same time, also the existence of toll stations excessive fees, low transparency, overdue charges, excessive charges, illegal transfer etc.. Although the government has taken corresponding measures, but with little success, the problem of highway toll has not been radical, and the reality caused high concern of social public and media.Therefore, this article starting from the following questions to explore the tradeoff of road tolling, such as the public product attribute, property compensation theory and the fairness and efficiency perspective, the paper probes into the main problems existing in our country’s highway toll and causes, and perfecting the policy and system of our country highway charges proposed targeted suggestions.The main content of this paper is divided into 6 chapters, as follows.The first chapter is about introduction. Starting from the background of the topic, this paper discusses the theory meaning and practice value of support and opposition respectively, from the toll road development, highway toll price formation mechanism, research the existing problems of toll road management, road toll in the process of government function research study etc, based on the review of the research, defines the research subject, then explain the main research content and research methods, and points out the possible innovations and deficiencies.The second chapter is general theory analysis of road toll. The first sector explains the type and the mode of fees charging and the rule of evolution. The second, three or four sections discusses the problems of road toll, from the public product attribute, property compensation theory and the equity and efficiency trade-off perspective. Based on the study of highway basic properties of quasi public goods, we analyzed the highway toll cost compensation, and then the dynamic mechanism and the road on the road toll charging efficiency and fairness analysis. The fifth section studies functions of the government on road supply process, the dominant position of government in the supply of highway is the chief consideration, and it also studies the incentive and restraint system which are provided by the government.The third chapter is about the present situation, problems and causes of China’s road toll. The first section mainly describe the present situation of our country road toll objectively, from aspects such as China’s road toll background, development course, development and effect of road toll highway toll related regulations etc. The second section analyses some existing problems, from the road toll system is not standardized, highway toll management weakening two aspects, and the third section analysis of the causes of our country road toll problems, from two aspects of the management regulations and monitoring of soft constraints and the local government of road toll authority too large.The fourth chapter is about highway toll standard determines estimation and rate of return. Based on Influence Factors of freeway toll standard, the first section mainly discusses the loan mode and operation mode and different models of the freeway toll standard. In section second, public pricing method to discuss the general method of public pricing, road toll choice. The third quarter estimates CAPM model highway returns, the applicability of the CAPM calculation of highway main argument yields, and construct the benchmark model estimates highway reference and reasonable rate of return. The fourth section, to the highway as example, the highway industry benchmark rate of return and the reasonable yield limit are calculated respectively.The fifth chapter is about the international comparison and reference of toll road. The first section discusses the international comparison of road toll collection scale from two aspects, which are toll road scale and degree of public welfare attribute. The second section examines the fee policy of America and Japanese from three aspects, such as the highway financing modes and policy, pricing policy goal oriented and road maintenance of fiscal responsibility. The third section is about the international road toll experience, the experience summarizes international road toll for highway franchise is market-oriented common mode, perfect legal system regulate toll road and strict national road toll management and monitoring etc.The sixth chapter is about the choice of strategies and suggestion of our country road toll. On the perfecting the road toll system, put forward the strategy choice and the countermeasures and suggestions to perfect our country road toll management policy. The first section is about choice of our road toll strategies, mainly including the efficiency and fair relation, and suitably road toll of timely adjustment of road toll strategies and innovative financing way. The second section is to clear the government function range and the leading role, the calibration in our country road toll policy goals, power and authority to collect fees road local government. The third section is about to set reasonable fees and the time limit, the determination of reasonable charging period, expanding the charging vehicle coverage, improve the fair sharing mechanism of road toll fee. In section fourth, the article strictly collect fees road regulation and management, based on the improvement of legal level of road toll, strengthening the policy regulation of highway toll road toll, improve the efficiency of supervision.