The Study On Project Financing Of Highway

Highway, an important part and sign of the modernization process, plays a crucial role in our national economic development and the process of social progress. The 12th five-year plan has proposed that highway develop with the principle of moderate forward thinking. As a result, the investment and financing of highway projects should be studied urgently and completely in order to explore new highway project investment and financing channels and change the existing highway projects investment and financing structure and also enrich the theoretical system of investment and financing of highway projects, all of which are of great theoretical and practical significance and will provide guarantee for forming National Comprehensive Transportation System with good convergence of network facilities, advanced and applicable technology and equipment as well as safe and efficient transport services. The essential characteristics and objective laws of highway projects investment and financing are all explored in the paper, and then the paper conducts an in-depth exploration on highway projects investment and financing in the following aspects.(1) The mutual constraints and coordination relationship between regional economic development and highway system is analyzed comprehensively, and the relationship between the regional economy and highway investment and financing needs is also explored actively. Besides, the requirement laws of highway projects investment and financing are revealed and the impact of regional economy on highway projects investment and financing is analyzed quantitatively.(2) A credit evaluation index system oriented to the banks of highway projects investment and financing is designed and the basic principle of the system is also put forward to determine the credit rating of the highway project financing body and solve the fuzzy uncertainty problem of the credit evaluation effectively.(3) The risk identification problem on highway projects investment and financing is analyzed comprehensively and the sources of risks are revealed. Then, evaluation and allocation models of highway projects investment and financing are constructed and series of risk evaluation decision-making technologies of highway projects investment and financing are put forward.(4) The relationship between investment and financing of highway projects are analyzed quantitatively and the highway compound decision model for highway projects investment and financing is built. Then, the finance lease model of highway projects is designed and the decision-making and pricing mechanism on the financial lease model are both explored deeply. (5) The basic connotations of the supply and demand side of the highway project funds are defined and the game behavior between them is also analyzed. Then, the macro management mechanism is explored and the individual micro-management mechanism and group micro-management mechanism of highway projects investment and financing are both designed.