Legal Research On Financing Of The Urban Infrastructure Projects

Money is the veins of city construction. In the many factors of restricting urban infrastructure facilities, the fund is the core factor. To develop urban infrastructure, capital bottleneck must be solved. In the condition of fiscal fund and bank loans investing urban infrastructure construction is hard to increase dramatically, as the demand of urban construction is increasing, a low-cost financing that can attract private capital into infrastructure field is the key way to solve the financing of urban infrastructure. It also is the core of the paper.The thesis includes four Parts. The first part analyzes the present situation and dilemma of urban infrastructure projects financing in our country, and points out the way to break the dilemma.The second part analyzes and contrasts BOT, asset securitization and issuance of stocks and corporate bonds that are proved to be relatively successful mode in urban infrastructure projects financing in China. With capital source standard, the financing cost standard and the social function standard of infrastructure, author points out that we should establish the urban infrastructure projects financing system that take asset securitization as the core, BOT and issuance of stocks and corporate bonds as supplement on using private capital, to solve the shortage of funds in infrastructure construction in China.The third chapter author expounds that asset securitization faces legal problems, and puts forward some suggestions to resolve these problems. About true sale of the foundation assets, author analyzes the legal nature of the foundation assets in asset securitization of urban infrastructure projects, and come up with the standards of true sale. But for selection mode of urban infrastructure projects asset securitization in our country, author points out we should set up the mode of urban infrastructure projects domestic asset securitization with SPV as the core, and indicates that the way of the state-owned assets management companies set up SPV is the best choice in domestic legal framework.