Financing Mechanism Studies On Urban Agglomeration Infrastructure

In the21st century, the urban agglomeration has become the basic unit of participating in international competition and division, with its coordinated development and construction being included in the outline in the 'Eleventh Five-Year' Plan. The development of urban agglomeration infrastructure is of great significance to push ahead with the entire process of urbanization and the formation of urban agglomeration. In fact, infrastructure financing has become a bottleneck to constraint the sound and fast development of China's urban agglomeration in China's past reform process. On the one hand, the supply of urban agglomeration infrastructure, the construction funds and the stock asset management are of serious shortage. On the other hand, the traditional planning and development of urban agglomeration infrastructure are tied to single city administrative subject, which results in poor coordination, widespread duplication and serious resources waste. Based on the perspective of regional development, the research on the urban agglomeration infrastructure financing mechanism has become an important field in urbanization.By introducing the history of development of urban agglomeration, this thesis firstly analyzes the important role of infrastructure to the development of urban agglomeration, followed by the analysis of the current situation and problems existed and the exploration of the source of the problems. Then, the thesis targets to propose a framework model for the urban agglomeration infrastructure financing mechanism, which consists of three subsystems and six item elements. Finally, for each subsystem, a detailed study of its elements is carried out.In the fundamental subsystem of urban agglomeration infrastructure financing mechanism, the thesis proposes that the financing subject, with its element contents being extended, includes the capital collecting and capital supplying subjects and the features of that have important impact on the financing. With regard to the financing object, the thesis explores the characteristics of urban agglomeration infrastructure, a special financing object, and puts forward the'Summary-Division-Integration' financing method to explore the financing potential by integrating the financing objects. On the analysis of financing channels, the thesis brings forward to set up an urban agglomeration development funds to achieve diversification of financing subjects and financing channels, and provides some countermeasures for the operation of urban agglomeration development funds.In the decision-making subsystem of urban agglomeration infrastructure financing mechanism, the thesis expands the contents of financing costs, notes that the financing costs include both internal and external financing costs, which should be focused at different stages of financing. With respect to the ways of financing, the thesis proposes the combined "fund+project financing" and its implementation strategy, and tries to construct a financing decision-making model based on triangular fuzzy for urban agglomeration infrastructure project, and verifies the constructed model through a case.In the subsystem of the risk of urban agglomeration infrastructure financing mechanism, the thesis constructs a risk assessment model based on Extension Theory, and takes the urban agglomeration infrastructure project of Large-River-West Region in Changsha-Zhuzhou-Xiangtan as an illustration to verify the constructed model by analyzing and evaluating the project risk, and put forward the corresponding countermeasures to risk prevention.The final is the conclusions and outlook section, which summarizes the entire research work and extracts the main innovations of this paper, the basic conclusions and future prospects for further research work.