Research And Application Of The Leapfrog Development Of China's Railway Financing Model

In 2003, on the base of the party group's carrying out the spirits on the 10th People congress of China, and in order to adapt the requirement of constructing affluent society roundly, the party group of Railway Department put forward the out-of-step thoughts on railway department.As one industry of the monopolization industries existing on China, railway reforms have always been the focus of people, currently; railway departments are exploring the muti-channel financing systems on railway construction. TO accelerate financing and investment system reform, overcome the short times about systems and management, push the marketed financing pace, and meet the requirement of constructing railways continuously, is the basic factors of realizing the out-of-step development, and is the important and urgent project faced to us, which is the aim of this thesis.this thesis make use of the research ways about theories combined with practice and contrast analysis, ect. Based on the necessary and means of the out-of-step development strategy, using demonstration ,micro-environment and industrial environment analysis, and the SWOT analysis ,this thesis deeply analyzes the factors which make impaction on the railway development strategy ,puts forward the main problem faced to strategy development is the short of money.By contrast analysis, making use of other country's railway reform experience, this thesis deeply puts forward the main problems on financing systems during railway department realizing strategy aim.Based on above analysis, this thesis discusses about the investment and financial systems from the points of views on the relationship between government and enterprise, the supply of system guarantee, industrial stimulation policies and regulation on investment and financial. Furthermore, this thesis studies the choice of financial modes to realize railway department strategy from four aspects such as carrying out asset recombination, pushing property rights securitization, encouraging folk capital to take part in railway construction and improving investment environment, making full use of foreign capital.In order to fill the large amount fund gap which the railroad cross-leap-type development needs, we must fully use the foreign capital and the folk capital, in orderto implementation multiplication finances. But in present some financing ways, Including BOT financing pattern, has a series of flaws, so lacks the attraction to exterior fund.This article pointed that Public-Private-Partnership (PPP) financing pattern can solve corresponding problem by analyzing, and recognized the comparison suits our national condition. Based on the front Analyzing, The article further thoroughly studied the procedure of imply PPP financing pattern. We pointed out powerful government's support and perfect legal laws and regulations system, which is the essential condition guarantees the PPP financing pattern effective implementation. According to realizing the aim to provide the system guarantees, and to imply industry-supporting policy, we proposed that making clear the government and business relations, strengthening the government supports the dynamics is the condition that realizes the strategic target of our country railroad constructs the cross-leap-type development.