Study On Mechanism And Risk Of Rail Transport Financing Mode Using Land Reserve

With the rapid development of the city’s economic, urban rail transit, which isconvenient and environmental, has gradually become the focus of public transportdevelopment in China and has entered a period of rapid development. At present, China’surban rail construction funds are mainly from the government financial allocation, whilethe land bank is a major focus of the work of the government and the land lease revenueis a major source of the financial income. The combination of turban infrastructurefacilities and land reserves gives the value-added benefits of the land back to theconstruction of urban infrastructure. This financing model does not only improve thespeed of land development, speed up the process of urbanization, but also alleviates thefinancial pressure of the government on the construction of urban rail transit, and leadsthe construction of rail transit to a model of sustainable development. Combining of railtransportation and land resources development model in the Hong Kong subwayconstruction, the construction of the rail transportation has been widely used in operationwith China’s national conditions, or there is a greater difference.Firstly, this thesis studied the traditional financing model for rail transit, analyzedthe shortage of the traditional financing models, came up with the development trend ofrail transit financing, proposed a sustainable financing model constituted by―track+land‖, and made a comprehensive analysis of the typical mode of operation. On the basisof the analysis of application experience, land package in the feasibility and necessity ofthe financing model were discussed, and at the same time, in-depth research on itsoperating mechanism were made, including operating procedures, operating principles,and so on. Then, this thesis proposed the concept of risk management for the financingmodel, analysis the major risk factors of the construction of rail transit in the use of the land reservation financing, and estimated the financing model quantitatively for the riskfactors by the risk analytical model of risk profit and profit ratio. Finally, combining withthe actual case of using the land reservation financing in the urban railway constructionof Wuhan City, the author made both qualitative and quantitative analysis by using therisk assessing model and presented some corresponding risk management advices.This study provided both theoretical and practical basis for the urban rail transit touse the land reservation financing model. Departure from the theoretical and practicalcases, this paper further confirmed the feasibility and necessity of the financing model,analyzed and evaluated the risk factors in the land reservation financing model, fulllydemonstrated the sustainability of the model, and proposed the risk control measures tosafeguard the effective implementation of the financing model.