Urban Infrastructure Investment And Financing Research

According to the trend of world economic development, building a modern city is one way to share the benefit of economic globalization. Building a modern city is equal to having a ticket or qualification certificate to participate in economic globalization and the global resources allocation, or else the whole regional economy will be excluded out of the course of economic globalization. Therefore, employing urbanization strategy and speeding up the process of urbanization is a pressing problem in Chinese economic and social development in the beginning of the 21st century and a historical task that has to be accomplished by the mid 21st century in order to attain the goal of modernization.The first bottleneck in Chinese urbanization is the lack of funds in city constructions, which is constrained by the development of productivity. And the bottleneck becomes more pressing and conspicuous with the speeding up the process of urbanization. With the combination of theory and practice, this thesis reveals the financial shortage in the present city construction and expounds on the basis of referring to international experience the practice of three major funds raising approaches in China ----- city infrastructure construction governmental investing and funding, project investing and funding and municipal bonds. And what's more, the thesis puts up the development direction of Chinese city infrastructure construction funding pattern in the years ahead.This thesis falls into five chapters:Chapter One: introduction, the basic conceptions and the practical meaning of choosing the subject; a brief introduction of the theoretical foundation of city infrastructure construction investing and funding ----- public goods theory;Chapter Two: retrospection upon Chinese governmental investing and funding mode in the reference of international experience after decomposing internally city infrastructure and defining the principal parts of investment;Chapter Three: detailed exposition on BOT and ABS practice in China analyzing the problems arising in the practice of these two funding approaches and putting forward operating model of BOT in terms of domestic investment and the international operation of ABS mode;Chapter Four: design of the trial pattern on Chinese issuing referring to international practice, and the analysis on the problems that may rise in the municipal bonds issuing process;Chapter Five: comparison of the two typical city infrastructure construction funding patterns in the world and defining Chinese city infrastructure construction funding pattern, then the writer gives personal policy suggestions on developing Chinese city infrastructure construction funding pattern.