| Public utilities will be a hot point of China economics and society development in the coming decasdes.In the past 10-odd years, the urbanization rate in China increased steadily. In the end of 2008,it had been to 45.68%.Even she has made great improvement in urbanization, but China still falls behind those countries which have same development level such as South American countries and CEE countries. Therefore, making significant efforts to promote urbanization, improving popularity rate of public utilities will be the main point of Chinese social and economic development in future. The country's policy orientation also has testified it.From the end of 2008,the economy stimulating policies incurred a new wave of investment and construction in public services industries. This time, public sector play a predominant part which causes criticism on potential fiscal risk and "state steps in, while private sectors roll back"Today, public-private partnership(PPP) has became a trend in the global construction and operation of public utilities. It doesn't matter that the promotion of public production or services is from the ownership's transformation and marktization or the change of system structures. Because from the view of public management departments, how to make equilibrium partnership between public and private, and guide the private sector's production and investment should be the focus of studies. So, this thesis analyzed the public sector's action model in public private partnership and its effects on private sector, and then carried out some suggestions on public utilities attracting social investment and promoting PPP. And this thesis also analyzed the public utilities finance project of European Bank for Reconstruction Development (EBRD) in CEE and CIS countries.Even we can't take EBRD as a public department in the strict sense, however, in these areas, at the early stage of PPP, the public sector always asked for the finance and technological assistance from EBRD.So EBRD replaced local public sector in its public utilities projects in those countries to some extent. Public sector can learn a lot from EBRD'experiences.The results of the empirical studies and the case analysis maybe very useful to push the state and private cooperation on public industries.This thesis has seven sections.Section 1,analyzing the meaning of topic selection and defining the study scope.Section 2, literature review. We started from public goods and natural monopoly. The first analysis emphasis the characteristics of quasi-public goods, and study the possibility and necessity of private sectors involve by analyzing of the twist of government sectors, and design a framework and model for the cooperation of government and private.The last part laid on the analysis of the framework of natural monopoly public utility markets.It emphasizes on how the public departments enhance and keep the competition ability by releasing the control of this industry. The important part of this analysis on the change of PPP, from private equity rights to partnership. We also discuss incentive-constraint mechanism and risk management analyst of PPP. By analyze so many literatures, this essay clarified the study scope more clearly, in PPP, how the working way of public sector influence the private sector and play a leading role in PPP.Section 3,practice summary on ppp in public utilities. The thesis analyzes the difference between PPP and project finance/BOT, summarizes the main characteristics and key points of PPP. Discussing the practices in some typical countries and regions, including the successful experience of water supply and sewage treatment field of UK, natural gas field of USA, urban transport field of France, waste treatment field of Japan etc.We also conclude the precondition and essential operation factors of PPP as comparison, and find the precondition and key sectors of pushing PPP in public utilities on middle and micro levels.Section 4,theoretical analysis.Using game theory to analyze the action of public sector in PPP. The analysis emphasizes what the private sector do when public sector uses different subsidy type to encourage it to join in PPP, and how public sector react or adjust the first action to improve the performance when the reaction of private sector has the different result from partnership target. Then we get the conclusion, maybe public sector should play a leading role in PPP; the more strict budget constraint of the support to PPP from public sector is, the more credibility is and the more beneficial to promote PPP;different types of subsidy will "encourage" or "restrict" the investment of private sector; public sector should increase the momentum of constructing commercial environment to lead more effective PPP.Section 5,empirical analysis on EBRD data base.The data is from EBRD project cases of public utilities in CEE and CIS countries. The regression result shows that public utilities PPP cases are complex and have more different characteristics.So, the simulation degree of regression isn't high.It's the deficiency of empirical analysis. Anyway the result still has value in deepening theoretical analysis. Public sector's direct guarantee has positive effect on attracting private sector. The improving commercial environment by public sector can shorten the negotiation time of PPP project.Section 6, case study on EBRD data base.This part focuses on the cases from waste treatment, urban heating, water supply and sewage treatment,and urban transport field. And we get the conclusion that the target of PPP in public utilities may be designed step by step;public sector may play a leading role in PPP and make more commitments at the early stage;the localization of PPP may help to progress stationary;and public sector may make efforts on improving commercial environment to create positive effect on pushing PPP in public utilities.Section 7, conclusion and suggestion on practice of PPP in Shanghai.The conclusions of this article are:1.Public sector may play leading role in PPP, the profound involvement of public sector in PPP project and its proper guidance may be the one of key success factors in PPP;2.At the early stage of promoting PPP, public sector may increase the involvement of public finance, thus can attract private sector to attend PPP and put more strict constraint on public sector's action; public sector may supply more promises and support, improve the involvement of finance, but subsidy per unit would "encourage" excessive investment of private sector, so the payment mechanism may be associated with performance; thus attract private sector as well as strength the constraint of public sector in the cooperation;public department may offer different types of subsidy; if the unit subsidy has fix return character, it may bubble private investment too much; if possible, the public sector would better use the payment based on results, not a fix one.3.There is mutual improvement effect between PPP and the improving of commercial environment.Better commercial environment is helpful for PPP, and the progress of PPP also enhance the marketized management of public utilities. When public utilities don't have cost-profit mechanism, public sector can offer fixed return to attract private sector. At the same time to improve the commercial environment steadily and make more accurate prediction of real demand of public utilities to guide private sector to plan proper investment size.Using those conclusion, the thesis analyzed the practices of waste treatment, urban transport, water supply and sewage treatment in Shanghai,and deemed that in PPP practice of Shanghai,public sector hasn't play a proper role, offer trusted and enough support, etc.And the thesis made suggestions that, clarifying that PPP is a systematic progress, so having many problems is normal in development; separating a big project to many small ones to decrease the difficulties;localization.
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