Study On Public-private Partnership Of Construction And Management Of Green Community Project

At the 2013 Urbanization Conference,the CPC Central Committee proposed the goals and requirements of promoting the ecological civilization construction and adhering to the people-oriented new-type urbanization.Meanwhile,the requirements of green development,circular development and low-carbon development in the new-type urbanization process have been clarified.The construction of new-type urbanization demands intensive financial support,the funds for construction only raised by government can't meet the needs of healthy development of urbanization.And the idea that developing a plan for non-public enterprises to get into the franchise area can encourage social capital to participate in urban facilities investment is pointed out in National New Urbanization Plan.Therefore,it's an essential method for new urbanization development to inject social capital in urban community construction and establish a public-private partnership(PPP)model in construction and operation period of green communities.At the same time,the concept of stakeholder participation should be cited in green communities operation and management in order to promote the participation among the government,social capital and residents(enterprises),so as exert their effect sufficiently to achieve sustainable development goals of urban construction and green communities operation.In this paper,public choice theory,competition and property rights theory and some other basic theories are used to demonstrate the feasibility and suitability of introducing public-private partnership model into green community construction and operation management.And some studies about public-private partnership model of green community construction and operation have been done according to the principal-agent theory,stakeholder theory and property right structure theory.This paper can be divided into eight chapters,summarized as the following five parts:Firstly,the paper summarizes the research and practice status of green community construction and operation through literature combing and case studying,and explores the theoretical basis and practical experience of introducing PPP theory in community development and construction.Moreover the concept of green communities has been defined in this study.Based on the public choice theory,competition theory and property right theory,this paper demonstrates the feasibility and suitability of introducing public-private partnership model into green community construction and operation management.In the green community projects,PPP is a key to solve the problem of capital allocation and achieve the sustainable operation.Through the study of the connotation of PPP in green community projects,four key points have been proposed in the paper,including the selection of public-private partners in green community projects,the analysis of capital structure under PPP model in green community projects,the analysis of income and cost situation and the green communities operation management based on PPP model.Secondly,this paper studies the selection of public-private partners in construction and operation stage of green community projects,which includes the analysis of participants in green community projects and the selection of public-private partners.As the participants in the green community construction stage have different interests,the participants have been identified and analyzed firstly in this part.Then the partners and cooperation projects have been selected from the different angles of government and social capital respectively.Thirdly,in the research of capital structures of cooperation between the government and social capital in the green community projects,the ownership structures of government and social capital and the internal ownership structures of social capital have been analyzed in the paper.And the strategy of ownership structure which means introducing strategic investors are illustrated according to the principal-agent theory.At the same time,the debt financing under PPP model in green communities is also researched to make a capital structure decision of green community PPP projects with the capital structure-debt level decision-making model.Fourthly,the income and cost situation of green communities under PPP model have been analyzed,and the value and finance of green communities are evaluated from the perspective of government and social capital.Fifth,it's significant to operate and manage communities effectively to achieve the sustainable development of green community projects.Through analyzing the public-private partnership and stakeholder theory,the PPP model in the green communities operation stage has been studied.A guarantee mechanism is established to ensure government,social capitals and residents participate in the operation management of green communities,and the cooperative game theory is cited to discuss the stakeholders of green community projects.To sum up,based on the competition theory,public choice theory,property right theory,stakeholder theory,principal-agent theory and cooperative game theory,this dissertation makes a systematic research on the PPP model of green communities construction and operation.Besides,the research on the green community construction and operation model under the background of new-type urbanization can guide the injection of social capital when urban green communities are constructed and operated.