Investment & Financing Mode Of The Urban Rail Transit Construction As Well As Its Revelation Upon Wuhan

Urban rail transit offers as an inevitable therapy to cure the public traffic headache. However, owing to the characteristics of huge capital investment and hard investment payoff, all the countries across the world cannot but face two difficulties in common in the construction of rail transit facilities, i.e. fund shortage and operation profit deficit. Of course, China is no exception. Under such circumstance, it becomes much meaningful both in reality and in theory to study on how to establish the reasonable urban rail transit investment & financing mode to solve the problems of fund shortage and operation profit deficit so as to tackle the hard nut of city public traffic in an effective way.This article, based on the Public Product Theory in the domain of Economics, depicted the Quasi-Public Product attribute, economic feature and investment & financing characteristics of the urban rail transit in the first place; Then after four main investment & financing modes were analyzed in detail, the evolution law and selection principle of the urban rail transit investment & financing modes were concluded in the paper. In the following, contrastive analysis of the rail transit investment & financing modes of the cities at home and abroad were given with the emphasis on the good experiences of the developed countries and Hongkong, P. R. China and the main problems existing in Beijing, Shanghai, Guangzhou and some other cities in real practice of investment & financing of urban rail transit projects. With respect to the existing problems, this paper also put forward many substantive suggestions on how to solve them from the view of Policy, Management, Operation and Environment, and furthermore, based on the Benefit Return Theory, it further discussed the feasibility and maneuverability of pooling the capitals through assigning the lands along the rail and comprehensive all-in-one land utilization and rail development, and raised the specific implementation suggestions; finally, in accordance with the accurate condition of Wuhan city it came up with the optional investment & financing modes for Wuhan as well as the relevant concrete implementation suggestions.