The Research On Investing & Financing Management And Performance Evaluation In Urban Infrastructure's Construction

From the angle of urban government macro-economic management, this paper focuses on the study of the issues existing in the management of urban infrastructure investment and financing, which is one of the main duties of the urban government. Referring to the classification method of the World Bank, the author divides the urban infrastructure system into six systems such as"urban energy and power system, water resource and water supply & drainage system, road communications system, post and telecom system, eco-environment system and disaster prevention system". For the urban government, the management of urban infrastructure construction investment and financing and its performance assessment is a significant issue.In Chapter 1, the author makes a comprehensive wrap-up of the research achievements and progress state on the management of urban infrastructure construction investment and financing and its performance assessment, and draws the research thought line and method. In the available documents, we can see that a fairly deep study has been made on the management of single urban infrastructure construction investment and financing projects, especially the application of the project differentiation theory in the management of urban infrastructure construction investment and financing has basically put operational urban infrastructure construction projects to the market. In the promotion of foreign investment, the urban government is mainly responsible for project contract negotiation and management service. For the quasi-operational and public-service urban infrastructure construction projects, the urban government is mainly responsible for raising funds and management. However, how to study the management for urban infrastructure construction investment and financing from the angle of urban government macro-economic management, and how to assess or measure its performance to improve the management level, little research has been done in this work. Therefore, the author tries to make an exploration. In Chapter 2, the author gives an introduction to the theoretical basis for the study in this paper, and standardizes the relevant concepts. The management of urban infrastructure construction investment and financing means, from the standpoint of the management subject of the urban government, the study on the urban government's financing for infrastructure construction, the government's management of urban infrastructure investment and the whole society's management of urban infrastructure investment; the assessment of performance of the management of urban infrastructure construction investment and financing means the comprehensive assessment of the change of the urban infrastructure development state caused by per-capita urban infrastructure investment in a certain period. The theoretical basis for the study contains theory on public articles, theory on interest correlators and so on. In Chapter 3, the author analyzes various investment and financing modes in the urban infrastructure construction, including BOT mode (generally used for new urban infrastructure construction projects) and ABS mode (generally used for urban infrastructure construction projects under operation), which take the society as the investment subject; financial investment mode (including discount, subsidy etc.), bank loan financing mode, enterprise bond financing mode and stock financing model, which take the urban government as the construction subject; and urban operation mode, which takes the urban government as the leading position. The author also makes a study on different investment and financing models suitable for different urban infrastructure projects. In Chapter 4, the author proposed to innovate the investment and financing mode for urban infrastructure construction by utilizing the established urban infrastructure construction fund. By means of analysis on two large sized urban infrastructure projects'investment and financing and social benefit, the author proposed the rationality to establish the urban infrastructure construction fund. At present, most of cities have established the similar sinking fund used for repaying the loan of National Development Bank The author also proposed 3 financing innovation modes, i.e. utilizing urban infrastructure construction fund to combine BOT project financing mode, ABS assets to support securities mode and TOT project financing mode. Of course, after the urban infrastructure construction fund achieved a certain scale, it may adopt direct financing mode to build urban infrastructure projects. In chapter 5, the author erected the achievement and result evaluation model of investment and financing management for urban infrastructure construction, and carried out the demonstration study. The author proposed the selectional and optional principles based on the evaluation indexes of representation, comparison, feasibility and independence, thus selecting 18 indexes from related statistic indexes of current urban infrastructures, then obtaining the scoring way of statistic index-based index value according to international and domestic statistic data and relevant technical norms. Utilizing the arrangement analysis to obtain related index weighing, the author erected 3 methods for evaluating urban infrastructure development situation. On the basis of urban infrastructure development situation evaluation, the author takes the change volume of urban infrastructure development situation in a period and the per capita urban infrastructure investment volume ratio as the achievement and result evaluation value of investment and financing management for urban infrastructure construction. On the basis of three evaluation methods of urban infrastructure development situation, the author portrayed two assessment ways on the achievement and result evaluation value of investment and financing management for urban infrastructure construction, and made the demonstration study to six provincial capital cities in Central China by using the evaluation methods proposed in the paper. In Chapter 6, based on the achievement and result evaluation study of investment and financing management for urban infrastructure construction, the author probed into the decision making problem on investment and financing management optimization for urban infrastructure construction, and proposed the concept model of decision making on investment and financing management optimization for urban infrastructure construction. The basic thought of the model is based on the city development planning to use the most optimized combination, thus enabling the urban infrastructure development situation to obtain great upgrading and improvement, i.e. to obtain the best achievement and result on investment and financing management for urban infrastructure construction in a certain period.In the paper the author has a outlook about the study.