Study On Financing Models Of Urban Rail Transit

With the economic development and the acceleration of the urbanization of our country, the transportation and environmental problems become more and more severe. The urban track transportation, with the advantages of efficiency, punctuality, safety, large capacity, low pollution and waste, is an important approach to solving contemporary city transportation and environmental problems. So far 25 cities have planned to build the track transportation network, which altogether is as long as 5000 km and the estimated investment is over 800 billion Yuan. It's obvious that the traditional financing pattern mainly by government investment doesn't meet the needs of the development of urban track transportation, consequently, multiplex and market financing patterns are the inevitable trend.After the introduction of the characteristics and definitions of the urban transportation system, the paper analyzes the typical urban track transportation financing patterns in and outside China, points out the problems confronted by domestic urban track transportation financing patterns nowadays and proposes solutions of adopting new multiplex and market financing patterns. Then, the paper presents the explorations of and achievements in the multiplication and the operation of market financing patterns in China. After the introduction of four new financing models BOT, TOT, ABS, and PPP and the discussion about their characteristics, application in domestic urban track transportation and the problems faced by the application, this paper proposes that PPP is more suitable in the various contemporary social and economic circumstances. Based on the characteristics of urban transportation system, this paper is attempting to establish a synthetical evaluation index system on urban track transportation financing efficiency and an evaluation model with the Gray-fuzzy appraisal method, aiming to provide the domestic urban track transportation financing pattern with theory references.Finally, in the case analysis part, three sets of financing scheme are designed on the basis of the 2nd urban track of Wuhan and evaluated by the previously established synthetical evaluation index system on urban track transportation financing efficiency and evaluation model and the best pattern is obtained according to their synthetical scores.