Research On The Application Of PPP Model In Traffic Infrastructure Construction In

Since China’s reform and opening-up, with the rapid growth of China’s economy,the increasing demand for transportation infrastructure, which promoted the pace of the transportation infrastructure construction in our country. But the transportation infrastructure has these feature: long construction period, large investment, low efficiency, strong public welfare, etc. Relying on the government single investment is difficult to achieve long-term stable development of transportation infrastructure,which is not conducive to the development of the economy. So our country began to reform the traditional investment system, to broaden the sources and channels of government financial funds. This prompts people constantly to look for innovative,flexible way of financing to make the private sector involved in the transportation infrastructure construction. Therefore, a new model-- the PPP(public-private partnerships) emerges as the times requirement. Since the "The 11 th five-year plan",to speed up the transportation construction in Yunnan province, and with the continuous expansion of transportation scale, so the demand of capital is also increasing. In order to solve a series of problems of the transportation construction financing, quality, efficiency and so on, the PPP pattern has gradually been introduced in the transportation construction in Yunnan province.The main content of this paper can be divided into the following parts: the first part introduces the relevant economic theory of PPP mode. The second part introduces the practice of PPP mode at home and abroad, aiming to share some successful experiences of the case. In the third part analyses the PPP financing pattern’s development and application situation in Yunnan transportation infrastructure construction : through the analysis of investment financing present situation and existing problems, to achieve the necessity of PPP model; and then analyze the prerequisite for using the PPP model in transportation project in Yunnan Province, it fully demonstrates the feasibility of the PPP model in transportation project in Yunnan Province; at last, by expounding the PPP model in some application of Yunnan transportation construction specifically. The fourth part evaluates the use of PPPmodel, at first, through qualitative analysis and quantitative analysis methods to comb the relevant theories of PPP evaluation model(VFM). Then, combine with specific case to make a empirical analysis, It is proved that the application of PPP model can provide the value of funds for the project. In the fifth part, some corresponding countermeasures of the application of PPP model in Yunnan transportation infrastructure construction are given.The innovation of this paper is mainly embodied in the innovation of application method. First, applying the Markowitz portfolio theory and bargaining game theory to analyze the two main characteristics of the PPP mode; second, using PPP model to build the model of value for money(VFM), and combining with the application of the specific case of Yunnan Province to evaluate and analyze the PPP model. At last, it is concluded that PPP model has great value in the transportation infrastructure construction in Yunnan Province, and its application has great practical significance to the economic development of Yunnan province.