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Research On The Risk Distribution Of PFI Applied In Chinese Traffic Infrastrcture Construction

Posted on:2005-08-06Degree:MasterType:Thesis
Country:ChinaCandidate:X G WangFull Text:PDF
GTID:2166360155455148Subject:Technical Economics and Management
Abstract/Summary:PDF Full Text Request
Along with the high-speed increasing of Chinese economy, the financing and efficiency demand for traffic infrastructure becomes serious year by year. To solve the problem, China begun the active finance policy from 1998. By the end of 2003, China has emitted more than 800 billions long-term construction national debt used in infrastructure construction especially in traffic infrastructure. Chinese traffic infrastructure has been advanced greatly, but compared with the advanced countries, it is on the low side all the same. It needs vast money to make traffic infrastructure in line with the development of national economy. The active finance policy is fading out gradually, so that the financing demand for traffic infrastructure can not be fulfilled depending on the government's finance investment.On the other hand, the development of economy and the opening of market accelerate the expanding of Chinese private capital. According to the Finance Report publicized by the People's Bank of China on September 12 of 2004, Chinese bank saving balance has reached 12.14 trillion by the end of August of 2004. Bank saving can not be channeled off effectively through direct financing cause there are some shortcomings in Chinese finance system. If effective approach can not be found, Chinese bank saving balance will continue to increase noneffectively. At the same time. Chinese private capital gross has occupied over a half of the whole national capital gross. Even the private capital is enough and effective, it is still banned to enter some infrastructure construction fields which are kept a firm hand on by the government such as railway, highway, civil aviation , telecom, especially in the traffic field. The double-invalidation of government investment and management makes the traffic infrastructure can not be operated effectively so as to become the bottleneck of national economy development.At this background, it is necessary for us to introduce the model of Private Finance Initiative (PFI). The problem of investment and management gap of traffic infrastructure construction can be solved through PFI, so is the investment banning of private capital.The key problem of introducing PFI into Chinese traffic infrastructure...
Keywords/Search Tags:Private Finance Initiative (PFI), Private Capital, Risk Evaluation, Risk Distribution
PDF Full Text Request
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