Infrastructure Gains The Right To Pledge

The infrastructure, as the main component of the social economic foundation ,plays an important role in the national economy and the people's livelihood .The investors, who are always pursuing for the maximum profit ,have very little incentives to invest in the construction of infrastructure because of the public good nature of infrastructure .In addition ,individuals and ordinary firms can't afford huge sums. The construction of infrastructure had mainly been financed by the government. The needs for infrastructure become greater with the development of the economy. The government fiscal investment can't satisfy the financial needs of the infrastructure. Since 1990s',more and more countries have introduced the market mechanism into the infrastructure field .The pledge of receivable right of the infrastructure project is created for the safety of the finance in the market. This measure is of great value to the development of our county's infrastructure since it acts as incentives to invest in the construction of infrastructure. This pledge of receivable right is distinguished from the traditional real security. As a result of the combination of public right and private right, it's much more regulated and intervened by public right. Thus, we should take a comprehensive view of this pledge, not only from the perspective of the civil law, but also from the perspective of the economic law .In fact, there is little research on this pledge.Under this background, this essay, basing on Chinese reform and development, makes a systematic research on the pledge of receivable right of the infrastructure project, from the comprehensive perspective of the civil law and the economic law, and the author puts forward her ideas in building and perfecting the relevant civil law and economic law systems. This essay consists of five parts including the preface and the conclusion.Part I mainly explains the internal reason for the creation of the pledge of receivable right. After analyzing the character and the importance of the infrastructure. The author explains why the construction of the infrastructure is lack of finance, and finds the internal reason of the creation of the pledge.Part II basing on Chinese reform and development of the infrastructure ,reviews the history of the emergence and development of thispledge in our country ,then find the motive for legitimizing this pledge .The author discusses the defect of the system of the pledge, and notes that we should build and perfect the basic theory of the legal system of the pledge.Part III defines the nature of the pledge of receivable right from the perspective of the economic law. The author thinks this legal system is in the nature of the economic law?Part IV discusses how to perfect the relevant civil law system. First, it defines the nature of the pledge in the view of the civil law, and compares several concepts. Secondary, the author puts forward her ideas about building the system of the pledge.Part V discusses how to perfect the relevant economic law systems. In this section, the author tries to solve the following questions: how to balance the pledgee's self-interest and the public right to employ the incentive utility of the pledge of the receivable right and realize the social interest, and how to prevent the public right from trespassing the private right.