The Research On PPP Mode Applied In The Construction Of Our Country’s Public Rental Housing

As the basic elements of people’s lives, housing is an important cornerstone to safeguard its people, maintain social harmony and stability. Market-oriented reform of the housing system began in our country in1990s, the Commercialization of housing replaced the welfare housing policy. The reform activates the inner vitality of the housing market, and promotes the development of the housing market, the housing industry has become an important force in promoting China’s economic growth. The development of the housing market satisfies the housing needs of the residents, improves the housing conditions of the residents, and it also improves the quality of people’s lives. However, the price of commercial housing has been a rapid rise, it causes the difficulty of housing as a large part of population, these people’s basic housing needs do not be guaranteed.To safeguard the basic housing needs of low-incomes, government sets up housing security system. Initially, the housing security system was mainly insist of economic housing system, low-rent housing system and housing accumulation fund system, the implementation of the system to some extent alleviate the housing problem of the low-incomes. However, due to the imperfections of the housing security system, the "sandwich" crowd who could not afford the economy housing and at the same time do not meet the conditions of low-rent housing applicants lack of housing safeguard, they encounter housing problem. In order to add these low-income people to housing security system, the government proposed to develop public rental housing to solve the problem of the "sandwich" crowd housing, taking public rental housing as a kind of safeguard housing to vigorously develop. As public rental housing construction, funding is the key. Public rental housing is mainly invested by the government and the funding mainly comes from government departments, this takes huge pressure to government finances. With the increase of construction of public rental housing, there will be a huge funding gap, relying solely on government finances is difficult to meet the capital requirements for the construction of public rental housing, to make sure the construction of public rental housing can be well carried out, we must increase financing efforts in the future. Innovating financing modes, taking multiple channels to raise funds, absorbing the social capital to participate in the construction of public rental housing, have become the critical issues for the construction of public rental housing.This paper research the construction of public rental housing, and the financing problems in the construction of public rental housing are core. It explore the introduction of the PPP mode to the construction of public rental housing,to absorb private capital to participate in the construction of public rental housing, and take multiple channels to raise funding for the construction of public rental housing, looking forward to promote the development of public rental housing better. Beginning from the basic situation of investment of public rental housing, focusing on the analysis of the sources of funds in public rental housing construction and the financing modes, then finding out the problems of financing in the construction of public rental housing. The next, the paper study the necessity and feasibility that lead PPP mode into the construction of public rental housing. After these, the operation of PPP mode applied in the construction of public rental housing project is analyzed, mainly including operational objectives, the basic mode of operation, operational procedures and project risks and risk-sharing. At the same time, it is designed that a new mode of operation of the public rental housing PPP project for small public rental housing development projects. By way of the analysis of risk-sharing, the paper gets the risks the government and the private sector should take solely and the risks need to share. In order to guarantee that the public rental housing PPP project can do well, some suggestions are proposed.The paper is made up of six parts.Part Ⅰ:Introduction. It mainly includes the background of topics, the meaning of the research, the overview of domestic and foreign literatures, then summarizes the research ideas and analytical framework of this paper, at last, generalizes the innovations and deficiencies.Part Ⅱ:basic concepts and the basis of theory. It discusses the concept and the nature of the public rental housing, the meaning, characteristics, application areas and the main operational ideas of PPP mode are also introduced, the theoretical basis that PPP mode is applied to the construction of public rental housing mainly contains the theory of public goods,privatization theory and project discrimination theory.Part III:Analysis of the investment and financing of the construction of public rental housing. It analyzes the basic situation of investment and financing of public rental housing, including the funding sources and financing mode. in the last, it analyzes the financial problems and points that rely solely on government financial resources for the construction of public rental housing is not sustain, introducing private sector to participate in the construction of public rental housing is necessary.Part Ⅳ:the adaptation of the PPP mode applied in the construction of public rental housing. It includes both the necessity and feasibility that PPP mode is applied in the construction of public rental housing.Part Ⅴ:the operation of PPP mode in the construction of public rental housing. It mainly probes the operation goal, the basic mode of operation and operational procedures of PPP project of public rental housing. It designs the basic operation mode of PPP project, at the same time, designs a new PPP mode of public rental housing project. In the last, the risks and risk-sharing of PPP project of the public rental housing are analyzed and summarized.Part Ⅵ:the safeguard recommendations of PPP project of public rental housing. The success of PPP project of public rental housing depends on many safeguard measure, it puts forward some recommendations from the policy, management and operation for PPP project of the public rental housing.