A Study Of BT Mode For Urban Mass Transit Infrastructure Project Financing

As China has further accelerated the pace of urban development, the public have a growing demand for urban infrastructure."Clothing, food, housing, travelling"is an essential part of people's lives. With the improved quality of life and the rapid development of cities, the requirements of public to urban transport for have also increased. But China's urban traffic has the congestion phenomenon widespread, unable to meet the travel needs of people, while rail transport is the most effective way to this problem. In addition to Beijing, Shanghai, Guangzhou and other large cities, there is still a big gap between China's rail transportation and the city's of developed countries, which is not only in the length of the line of the transport network, but also in construction, financing, operation and management methods of the urban rail transit project. Since the features of large capital investment and long payback period in urban rail transit project, China's traditional government finances as the main mode of construction funds have been unable to meet the needs of the rapid development of rail transportation. Therefore, introducing competition, attracting social capital and technology and improving management and operational efficiency have become the most important issue to the development of urban rail transit[1]. In such a background, as a sophisticated international financing model, BT model plays an important role in the construction of urban infrastructure, which is worth exploring and research as an innovative financing model For China's urban rail transit project financing[2].Firstly, paper analyzes the concept and content of urban rail transport, elaborating its economic attributes and operating characteristics in details, and giving an analysis and comparison to the basic theories and common modes of financing in urban rail transit project[3]. Secondly, this paper introduces the general concept and meaning of BT model, giving an analysis of the implementation models and operational processes in details, focuses on the applicability of the BT financing mode in urban rail transit project, from which the meaning and risk prevention measures are obtained. Then this paper gives an analysis for Tianjin Metro Line 2 8 tenders BT project, as a case of empirical study. Finally, this paper makes reasonable suggestions to the management and the policy of the BT model, which develops ideas for the development and application of BT Model.