Research On The Debt Problems Of Wuhan Toll Roads

In these years, the construction of road in Wuhan has developed by leaps and bounds. In particular, since the implementation of "Loaning for Building Roads and Tolling for Repaying" and the preferential policy for attracting the folk investors to build road, Wuhan has built many miles of toll road. Large- scale construction of toll road result in the rapid increase in mileage and promotion in grade, leading to the rapidly enhance in overall level of road. All these have played an important role in relieving the unbalanced traffic supply and facilitated the economic development greatly. However, because of the constant extending of toll road scale and its increasing proportion in road network, the negative effects have been gradually exposed. Bank is the main source of road constructing funds. On the arrival of loan-repaying peak, large amount of fund need to be used to repay principal and interest of loan. Therefore, the pressure of loan and interest payment would become greater and greater, thus the investment risk will protrude. After deduct the administration and maintenance cost, the revenue of most Wuhan's toll road can not even repay the interest. In response to china's toll road reformation, Wuhan took initiative in back outing, removing and combining toll road stations, which result in the operation difficulties of toll road constructed under folk investment and even the failure in withdrawing investment. All of these have been the focus of social attention.In view of the above conditions, how to implement well the policy of "Loaning for Building Roads and Tolling for Repaying" to develop road construction, and meanwhile to reduce investment risk as well as protecting the legal right of investors has become an urgent problem to study on and solve.In order to seek resolution for the abovementioned problems, Wuhan transportcommittee, civil alliance and Wuhan University have conducted a project, named"Wuhan toll road development situation research and strategy on the location of tollroad stations". This essay has make some useful exploration on the toll road debt andoperation problems relying on this project. The essay comprises five parts. The first part gave some introduction of the background, significance, content and method of the research. The second part made some exploration of the toll road construction mode, and summarized different evaluation systems of various toll roads. The third part analyzed the debt and operating situation of Wuhan toll roads. The fourth part did some forecasting on the future debt and operating status of Wuhan toll roads. By studying on domestic and foreign correlative experiences, this fifth part proposed several revelatory countermeasures to the favorable development of the toll road under the trend of backout and combination.This essay made a detailed classification of three kinds of toll roads; did specific analysis and assessment of the three kinds of toll road on concrete case; and came up with some countermeasures respectively, which are the main difference from past studies.