Research On Modes Of Chinese Government-invested Management

With the gradual establishment, development and improvement of Chinese socialist market-oriented economy, the management of the old planned government -invested projects have highlighted many problems.This thesis, comparatively analyzing the management models in the developed countries and regions of the world and combining the recent reform experience in some areas in China, presents an alternative management model for the government-invested construction projects. This model can be explicated as follows: distinguishing profit government-invested construction projects from non-profit government-invested construction projects. For the non-profit government-invested construction projects, three steps should be taken. First, to incubate project management companies to attain the specialization of management. Second, to establish management center of the government-invested projects to realize centralization of supervisal. Third, to build the government-attached investment companies which will take charge the whole process of the management, including investment, loan repayment and operation. Besides, the thesis also discuss "principal-agent problems" designed by projects management companies. With the incentive contract signed between employers and engineers, the interior and exterior constraint mechanism as well as reputation effects play significant roles in reducing the moral hazard and converse choice. For the profit government-invested construction projects, the mode of personal finance initiative (PFI) can be adopted and implemented.