The Practice And Innovation Research On Investment And Financing In Chongqing Infrastructure Construction

Infrastructure is the preferred capital that one country must put into to make its economy progress, it is also the basis of social economic activity and the upriver industry of national economy. The infrastructure construction of ChongQing not only decide its economic social development but also significantly influence the process of the whole West exploitation strategy and the integrated social benefit of Three Gorge project. At least within 20 years, Chongqing must persist to a large-scale infrastructure construction. However, a extensive construction is constrained by the source of construction fund, so innovating the investment and financing system of infrastructure construction and searching a new financing approach is the key to the problem. Firstly, this paper analyzes infrastructure construction investment and financing system of Chongqing and the current condition of its function mechanism from the academic and positive perspectives. Besides, four characteristics about Chongqing infrastructure construction are discussed. Secondly, this paper draws an academic conclusion on the successful investment and financing cases creating from the practice of important infrastructure construction such as traffic, bridge, river, energy and environment fathering in the recent years in Chongqing. In this paper, the author designs a trade-off cost model of establishing infrastructure investment group and deeply analyzes the economic theoretical sources that Chongqing establishes eight large infrastructure investment groups. Establishing a pre-working infrastructure margin utility model on Investment Company and a game model that the government and infrastructure Investment Company treat government support, the author anatomizes the management puzzledom that the government put on the investment groups and puts forward resolvents. Thirdly, the current problems in financing system and traditional channels are founded in turns. The thesis concludes that the infrastructure construction greatly depends on the government and banks and there is some difference between the supply and the demand. In the end, Based on these analysis, the author puts forward the innovation advice of the investment and financing policies and the extensiveness advice of investment and financing channels. The above policy suggestions include that reducing qualification requirement for investment body, improving the operational efficiency through simplifying the government process, the breakdown of market monopoly structure, deepening the pricing mechanism, improving the benefit of investment projects, supervising the most important projects, perfecting the finance policy and the implantation of competitive agency. The financing suggestions include that continually allocating the funds form the government and commercial bank, utilizing the land usufruct, positively absorbing foreign funds, excavating the idleness funds from the society, directly financing for infrastructure construction, the development of special funds, exerting the functions of trust company, and searching the new financing instruments.