Application Of PPP Models In The Construetion Of High-Speed Railway In China

The railway is an important infrastructure, which occupies an important position in China’s transportation system. With the rapid development of China’s economy and society, the fact of the shortage of China’s railway transport has become increasingly apparent. According to statistics from1978to2010, the average annual growth rate of China’s railway mileage is only1.8%, which is far behind the growth of China’s GDP. In order to alleviate this imbalance between supply and demand, China is making great efforts to develop high-speed railway construction. In just a few years, based on independent innovation, China’s high-speed railway has achieved leapfrog development, whether it is high-speed railway operating mileage or high-speed rail technology, China leads the world. It is expected that by2012, China’s railway mileage will reach more than110,000kilometers, new high-speed railway of which will reach13,000km. However, due to the single source of funds for railway construction in China, mainly the state funds and debt funds, while the high cost of high-speed railway construction is up to the billion or more per kilometer, the contradiction between supply and demand of china’s high-speed railway construction funds has become increasingly prominent, huge amount of funding gap will hinder the development of China’s high-speed rail.China is a country of high savings rate, along with the continuous improvement of residents’income levels, deposits of urban and rural residents in China will be a significant growth. According to statistics, by the end of2011, all local and foreign currency deposits, stored in all financial institutions of china, has amounted to82.7trillion yuan. If sufficient private capital could be introduced into the high-speed rail projects in China, China’s high-speed railway construction funds problems would be alleviated. Public-private partnerships models can achieve the docking between private capital and high-speed railway construction. PPP models is a cooperative partnership established by the government public sector and the private sector for the provision of public goods or services. By means of PPP models, that, the introduction of the private sector and private capital to China’s high-speed railway construction, can not only solve the problem of lack of funds for high-speed railway construction, but also advance the technologies and management methods of the private sector to public sector,so as to improve the operational efficiency of the high-speed railway in China improve social resources utilization. Therefore, the PPP model is applied to the high-speed rail projects in China has important practical significance.This paper is divided into five parts, the various parts of the contents include:Part I:Introduction. It describes the research background, research significance, research status at home and broad, the research ideas and frame structure.PartⅡ:Basic concepts and related theorys basis. It Includes the meanings, characteristics, operation ideas of PPP models and the theoretical basis of PPP models used in the high-speed railway construction.Part III:the necessity and feasibility of the PPP models in the high-speed railway construction. Necessity is mainly analyzed in two ways:firstly, from the point of view of the supply and demand of high-speed railway construction funds; secondly, from the point of view of risk control and resource allocation. Feasibility is analyzed in three aspects:the first is plenty of private capital, the second is a good policy environment,the third is "win-win" mechanism based on the idea of cooperation.Part IV:the status quo of foreign high-speed railway PPP projects and revlation for China. It firstly describes the application situation of Japan, France, the United States and Spain, four national high-speed rail PPP models, and then summarizes the revelation from these countries of high-speed rail PPP projects operated maturely: the diversification of financing channels, standardized laws and regulations, government and enterprises separation and separated road and network separation, selecting a partner equality.Part V:The mode of operation, barriers and the related recommendations of PPP models in China’s high-speed railway construction. It firstly introduces the eight modes of operation under the PPP models, does a comparison from the espect of the scope and degree of government involvement, points out suitable models for China’s high-speed rail projects behind the China’s national conditions; and then analyzes the applications barriers of PPP models in China’s high-speed railway construction:the concerns of private sector, the legal obstacles, the government and enterprise separation in the railway system and the lack of professional talent and institutions; finaly six corresponding policy recommendations are pointed out,such as to establish and improve relevant laws and regulations, to speed up railway investment and financing system and railway management system reform and so on.