| In our country, the infrastructure has been managed for a long time by national monopoly, the profit rates of products and service are very low, and it is very difficult to raise fund from the market. With the development of our national economy, the current infrastructure is increasingly unfit for the demands of economic and social development. In order to prevent the infrastructure becoming a "bottle-neck" of economic development, abundant funds should be invested to construct infrastructure. However, with the switch of our economy from the government financial-directed model to banking-directed model, the government finance will not be lenient over a relatively long time. Thus it is difficult to meet the funding demand of infrastructure construction by relying on the government finance. To have a breakthrough in infrastructure construction development, it is necessary to speed up its system reform so as to fit with the market raising fund demands for infrastructure construction. In this paper, the market raising of funds in the field of infrastructure will be discussed in five chapters and 10 sections.In Chapter 1, the infrastructure will be defined, and the present status of raising funds in infrastructure construction introduced.Firstly, the chapter discusses about the implications, characteristics and role of infrastructure. Then it introduces the history, development and present status of raising funds in infrastructure projects of our country. Finally it gives the significance of market raising funds in establishing infrastructure projects, i.e. raising funds from market to develop infrastructure is the demand of active financial policy; is the realistic option in resolving financial risks and overcoming shortness in financial resource for the government; and also is an effective approach in deepening the system reform of investing and raising funds, and switching the mechanism of enterprise management. In Chapter 2, a substantial analysis is made for the raising funds of infrastructure projects in western countries. This chapter introduces various modes of raising funds for infrastructure projects, including Japanese Mode, South Korean mode, U.S. mode, and Australia, U.K. and France mode, and summarizes the common points of these modes. By understanding the western advanced modes in raising funds may inspire the thinking of establishing the system of raising funds in infrastructure projects of our country.Chapter 3 depicts a basic framework of market raising funds system for infrastructure projects of our country.First, in the first section, the environmental bases affecting market raising funds for infrastructure projects are analyzed, and of them the economic system basis and law system basis are mainly elucidated. The author believes that in order to perfect the economic system basis for market raising fund in infrastructure projects, the following should be done: 1.To improve the investing and raising funds control system of the project. 2. To develop with great efforts the banking market environment for the project investment; 3. To create a favorable financial policy environment for project investment. As to the legal system basis, the author analyzes at first the significance of legal system basis on market raising funds for infrastructure; then introduces the current laws and regulations about market raising funds for infrastructure; and finally gives some suggestions to update those laws and regulation which are no longer fit to the demands of economical development so as to perfect the legal environment of market raising funds for infrastructure and promote the development of infrastructure construction.In the second section, the author discusses the essential contents of market raising fund system for infrastructure, in which the government will no longer adopt administrative means to control the activities of the main bodies in investing and raising funds, but modulate their investing and raising fund activities by four kinds of means, i.e. eco... |
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