The Research Of Road Investment And Financing Model And Utilization In Shanghai

Road construction is an important part of the whole infrastructure investment, which also plays a supporting role in the development of the national economy. There are some different features in road infrastructure investment of different periods. All of that are shown with the cooperation between public finances and non-public finances, and different level of public products service efficiency. Since 1930s in 20th century, Diversification of the investment in road construction has become a popular phenomenon. Some new economic powers, such as nations in south east Asia, make a big gain from this change. With the theory of public goods, economics for development and other ones, much statistics collected in the interviews of shanghai, author makes an analysis of evolutionary process& matching conditions of the financing model in road construction. Some experiences of financing both home and abroad, conditions and definite financing way of operating in shanghai, both are paved for a speculation of direction of the financing in road construction in shanghai.Through the whole thesis, author finds that private financing modes are usually applied in western countries, such as UK, America and so on. At the same time, enterprises usually explore market in different countries. It provides an important way for the high efficiency utilization of capital and other resources through the cooperation among different partners. However, few projects in developing countries can attract private capital. Because the demand of transportation is not strong enough. The low level of public administration and weak power of operating enterprises also make it is hard to apply PPP financing model.Author pays much attention to the problems analysis and the developing and changing process of the road investment in shanghai. Since the reform and opening, several stages are clearly shown in front of us. It begins from the public finances investment to loan borrowing and land sales,rent of public infrastructure,private investment. And now, toll charging for loan. All of that forms a special model full of Shanghai features. This special model makes an effective combination of advanced experience and local conditions. During 2000 to 2002, shanghai, taking the advantage of private capital, complete the construction of the whole network of expressway. A great progress has been achieved during these 2 years. On the other side, there are some problems to be solved in the road infrastructure construction, such as being short of operating specialist, ineffective of the special concession contract, risk compensation, supporting measures of the government. There is a big space to catch up with some advanced countries.Based on the study of the related investment and financing theory, combined with the analysis of valuable experience both home and abroad, author suggests that state owned enterprise should make a core role in road investment and financing, private capital work effectively as a supporting role. In future, we should pay much attention to private investors, obey the rules of market and make a clear relationship of different departments. At last, an effective system of administration, which full of advanced features both home and abroad,diversification of capita,effective operation, should be made to enhance the sustainability of shanghai road construction.