On The Market-oriented Investment And Financing Of Urban Infrastructure

The city infrastructure is the material base of accelerating the city's urbanization and modernization, and it is the important contents of urban construction and development. According to the main functions and service of the city infrastructure, it can be divided into the following six systems : energy system, water supply and drainage system, municipal transportation system, posts and telecommunications system, ecological environment system, city disaster prevention system. From the economic angle, we can find many attributes of the city infrastructure such as the attributes of foundation,the natural monopolization, the contemporaneity,advancement, substitution, policy, welfare oriented attributes etc.Speeding up the city infrastructure construction may increase the national income, reduce the manufacturer costs, improve living standards of the inhabitants, strengthen synthesis competitive power of the city, make correlated industry develop, and promote the expenditure level of inhabitants .The theory realm usually divides the marketization process into three levels. One is product marketization; the second is resources factor such as fund, land, labor force, technology, management; The third is the capital rights marketization. The infrastructure marketization includes the above three levels of the marketization process, in the city infrastructure construction, the management domain, and refers to introducing the market mechanism and linking the revenue to the cost to reduce government's scale and the degree of government involvement in social economy, transferring infrastructure property rights to enterprises , changing the situation of sole channel of financing and investment management.Investment refers to the economic subject paying currency or other resources on some economic activities in order to obtain economic or social efficiency, which includes investment decision-making, implementation and return. City infrastructure investment has both the direct material investment and the indirect investment. Financing refers to the investment subject's series of economic activities for the fund that the investment plan needs .It includes financing channel, financing way, financing quantity and structure and so on. The financing concept is exactly opposite in the direction with the investment, the problem it solves is how to obtain the fund needed, which involves when, to whom, finances how much and the cost etc .Financing is the important link point to collect the construction fund of city infrastructure project. Standard, highly effective financing mechanism is the foundation for city infrastructure industry to develop healthily.At present, the financing management system of our country's infrastructure construction still has many defects and problems .For example, the financing channel is unitary, the foundational function for market to distribute the resources cannot be fully fulfilled; The financing subject is unitary, and the effective means to attract folk capital and the foreign capital is lacked; The manifold institutions manage the financing system, but the whole coordination is insufficient, the management subject is vague; there is not a clear line between the functions of the government and enterprises; The construction of laws and regulations system lags, the corruption in the project construction is serious; The mechanism of restraint risk is not yet established, the price mechanism with market as guidance is not formed and so on. How to create situation to make the city infrastructure construction investment subject multiplication, the financing channel diversification, change the situation of low investment benefit in the city infrastructural facilities construction, It becomes an urgent question to solve for the study of city infrastructure construction.What facilities and services does city infrastructural facilities include? What facilities have the market-oriented quality, and how to let them become market-oriented, How to fix the function of the government and the market, How to innovate investment and fund-raising systems etc. We should pay lots of attentions to Such questions in the current theory studies.Based on the following theories ,such as commodity value theory , the project division theory ,public goods theory, city management theory, and from multiple angles of theory and practice , history and reality etc, and with the method of systems analysis, case analysis , statistical analysis, comparatively synthetically analysis ,the thesis tries to study some fundamental problems of market-oriented investment and financing in urban infrastructure construction ,which may lead to the result of strong practicality , reality , pertinency. With the analysis of the characters of infrastructural facilities financing in Germany , USA , France , Japan , United Kingdom ,in connection with history of the evolution and current situation in our country history ,we can conclude that market-oriented method play an active role in the urban infrastructure construction in the developed countries. To learn and adopt the experience of the developed countries can help us push forward the market-oriented reformation of our country's infrastructural facilities and accelerate infrastructure construction.The thesis is divided into seven parts. Part I introduces the research background and the study significance , the summary of internal and international study, then points out the characteristic and innovative points, the main thought,study method and the technology route; Part II,the relevant concepts of investment and financing of construction of urban infrastructure during the course of marketization; Part III introduces the relevant theories; Part IV,Experiences abroad and general situation of our country; Part V puts forward the countermeasures to the market-oriented investment and financing of city infrastructural facilities , and analyses the investment and financing of government , bank , capital market, project, renting and the foreign capital; PartⅥ, roles of the government in the market-oriented investment and financing of urban infrastructure construction ;The final part draws a conclusion , a summary to the main part that the thesis studies.Construction of urban infrastructure relates to a wide field .The article only studies primarily from the investment and financing angle, and the author wishes it can promote the reform of investment and financing systems to city construction of our country.