The Research On Government Supervision Of Highway BOT Project

Highway BOT model is an effective method to relieve the burden of fund insufficiency. Due to the absence of an specialized legislation up to now at home, for related governments at each level the operation management of BOT project is still at trying stage. So, many problems appear on after the other, such as cursory decision making on project startup, the irregular selection mode of investors, unreasonable licensed project term, delayed fund supply, unsymmetrical risk distribution, many worthless risks are assumed by governments, etc. from the point of view of policy guidance, government play the role of conferrer, supervisor, cooperator and supporter in the process of the operation of the project funded by BOT, this is indispensable to guarantee the successful implementation of the road project. Under this background, it is especially important and significant in reality to research on related problems on the supervision from government on the road project adopting BOT mode. Combined with the project called'Study On Risk Evaluation And Management on Road Projects Adopting BOT or BT Mode'funded by Transportation and Communication Hall of Hunan province, by the theories including project financing, public product, committed agent and government supervision, this paper attempts to solve related problems appear in the building process of the road project financed by BOT.Firstly, this paper gives a simple introduction to the concept of financing mode and operation process of BOT, as well as the relationship between the interest beneficiaries. Then, with the help of the theories above, the necessity and significance to supervise on road project adopting BOT mode by government are analyzed in detail. Furthermore, based on the analysis on some instances on project operation in reality, the problems existing in the operating process of the project related to BOT are discussed in depth, and, some primary problems are listed as follows: devoid policy and law on BOT, insufficient support of government supervision, supervision stuff are absent of specialize gift, traditional supervision mode is inconsistent with operating system of BOT, some road project adopting BOT are short of government supports, irregular management of BOT project, mechanisms for guaranteeing credit and responsibility investigation, etc. at last, aiming at the existing problems in the operating process of BOT process, this paper some put forward some valuable suggestions on strengthening supervision such as building supervision framework on BOT project for government, the principle, fundamental framework and content is presented in detail at the same time. Moreover, it is suggested to revise and perfect law and policy platform, institute necessary legislations, strengthen the construction of supervision stuff, change out-of-time management ideas of government on BOT project, adopt supervision mode with stimulation, put the role of the agent-based organization and gifted stuff into full play, strive to implement standardized operation of BOT project, develop credit commission system and establish the regulation on retrieving and investing the personals that take responsibility.