The Study Of Zhejiang Urban Infrastructure Investment And Financing System

Infrastructure construction is not only foundation of urban social and economic operation, but also a leading part in the urban modernization drive. Since reform and opening-up, the urban infrastructure construction in Zhejiang province has made considerable progress. However, it is still generally hard to meet the needs of social and economic developments for various reasons. Among all the reasons, investment and financing defect has become a "bottleneck" that curbs Zhejiang's infrastructure construction. First of all, serious fund shortage makes infrastructure construction fall into vicious circle. Secondly, financing channel for construction capital is single and financing cost is high. Thirdly, bad system and operating mechanism leads to low efficiency and heavy waste. Finally, improper management and maintenance cause current urban infrastructure run at high cost and, thus, waste off rapidly.Based on above analysis and armed with the theories such as public product, program distinguish, infrastructure sellable assessing and etc., the article put forward suggestions that could hopefully break current bottleneck and establish a stable investment and financing system for urban infrastructure construction. With reference to relevant experience both from home and abroad, diversified source of capital should be introduced to invest in urban infrastructure construction. Besides government fund,the infrastructure financing channel should be expanded and social capital should be attracted to take part in urban infrastructure construction. Meantime, current infrastructure operating approach should be altered to improve investment efficiency of government's fund .In addition , sources of capital and their application should be standardized as well. Generally speaking, ideas in the article could be concluded as "market-based operation, socialized investment, plural debt, direct financing, limited withdraw of government and positive intervene of private capital." The article also put forward six measures to make all the ideas and suggestions operatable.