Research On Expressway Construction Under BOT Scheme

China has already got a rapid development in highway construction. From 1984 to the bottomof 2004, the low level highway developed form 20,000 km to 230,000 km, and expresswaydeveloped from 0 to 33,000 km. However, in order to achieve the goal of "national plan ofexpressway network", making highway transport facilities especially Expressway adapt to theneeds of social and economic development, the highway construction funding gap is about 1.3trillion Yuan during 2000-2010,and about 1.1 trillion Yuan during 2011-2020.Frequently, the government introduces BOT scheme in highway construction meaning torelease burden upon budget. Nevertheless, BOT scheme is also considered to be an important wayto improve the efficiency of construction projects.This article discusses the BOT scheme and relevant issues when it was being used inexpressway construction. This research has important guiding significance and practical value onthe construction of infrastructure, especially how can road construction use BOT scheme moreefficient, then leading to a better understanding of the cost-sharing behind BOT project. In chapterfive, from the perspective of regulator (e.g. government), using the theory of incentive mechanismdesign, discussed the highway BOT franchises bidding mechanism with Multi-dimensionalattributes. Through the establishment, analysis and solution of the franchises bidding model, getan optimal bidding mechanism model. Furthermore, in chapter six, based on game theoryprinciples, building an incomplete information dynamic game model concerning BOT projectconcession period, get a mathematical expression of concession period, provide theory basis forgovernment and private firms when negotiate on concession period of BOT project.