Research On Revenue Bond Financing Of Local Expresswaty Project

The national freeway network planned by the State Department plays a huge role in inter-regional social and economic exchanges. With the expressway net of our country to be built and the rapid development of local economy, the social and economic development within a region demands for the high-speed and high-quality traffic. Local expressway, a subordinate artery, can be effective linked up with national expressway. Local expressway is critical for speeding up the process of urbanization and regional development, and is also the objective requirement to achieve the overall efficiency of the national expressway network. The demand for developing local expressway is huge. However, shortcomings in expressway project financing system have led to serious results for a long time:the lack of constructive funds, irrational financing structure, and huge risks in financing and so on. These problems will become an obstacle in the way of developing local expressways. Therefore, to promote local expressways developing, the sources of constructive funds and reducing financing risk are the primary problems to solve. It is essential to attach great importance, to study and to solve these problems as soon as possible.The manner of local expressway project revenue bond financing is helpful to optimize financing structure, to resolve financing risks and to provide a more reliable funding source for local expressways. It should become the leading financing manner of local expressways in the future. The author take it as a research object, integrates the knowledge of republic economics, money and banking, transportation economics, highway economics and so on. Research methods include integrating theory with practice, combining qualitative study with quantitative study and comparative analysis. An in-depth study is taken to state the intension, features, the applicability, issuing system and other issues of research objects.This study is divided into four parts. The first part is Chapter one, presenting the background and the significance, defining the scope of the study, reviewing the research results at home and abroad, and establishing the basic structure of this study. Chapter one is the foundation of this thesis. The second part includes Chapter two and Chapter three, propounding the theoretical premise of developing local expressways and problems of financing. This part is the starting point of the study. The third part includes Chapter four, Chapter five and Chapter six, analyzing the intension, suitability and issuing system of the local expressway project revenue bond financing. This part is the focus and the core of the thesis. The last part is Chapter seven, discussing the key issue in developing local expressway project revenue bond financing, which should be concerned about and addressed. This part is the end-result of the whole study.Systematic study of local expressways and the basic contrivable ideas on the issuing system of local expressway project revenue bond financing are creative points of this study. Based on the analysis, the author believes that in this age the development of local expressways faces the shortage of funds and other difficulties. The important solution to funding sources is to issue local expressway project revenue bonds. It is necessary to stand on the practice, on the basis of learning the advanced experience, to scientifically design the issuing system, to focus and resolve the relative key problems, to speed up the implementation of tests at the selected points, which make a good foundation for the development of the local expressways.