The Research Of PPP Model In Indemnificatory Housing Financing

After thirty years of development, China’s housing security system graduallyestablish and improve, formed the housing guarantee system giving first place toeconomically affordable housing, cheap rent housing and public rental housing stepby step. China has accelerated the pace of the construction of IndemnificatoryHousing, going to afford3.6million in the last five-year plan. These actions play animportant role in solving the housing problems of low-income urban families, easingthe contradiction between the domestic housing demands and stabilizing the propertymarket. But we should see, there is some problems in our construction yet, forexample: the construction depends on state revenue too much; The source of capitalis not stable; Aspiration of local government in Indemnificatory Housingconstruction is low; Lack of financial instruments. All th is makes the stability andsustainable of Indemnificatory Housing construction discounted greatly. Therefore,broaden the financing channels, diversified financing mode is particularly important.This paper review policies of economically affordable housin g, low-renthousing and public rental housing in recent years, points out that the financing modeis the bottleneck of restricting China’s protection of housing construction based onChina’s actual situation. In the comparative analysis of REITs, asset sec uritizationand PPP，we found that promotion of REITs and asset securitization in our countrylack of the necessary supporting conditions. It’s benefit for improving the workefficiency, reducing the engineering cost, reducing the pressure of government an dgiving full play to the comparative advantage of both public and private if the PPPfinancing model applied in the construction of indemnificatory housing in ourcountry. And a number of city has applied PPP to some kinds of infrastructureconstruction such as water development and highway construction. There is lessonhere for transplanting PPP to Indemnificatory Housing.On this basis, learn from the experience of other countries, to transform thetraditional PPP model, structuring financing mode that f it China’s IndemnificatoryHousing construction: Set up National PPP Units as Guide in PPP mode; Establishintermediary organizations as Coordinator between government and the privatesector. Government departments should carry out the necessary decentrali zation, andaccommodate the new role as servant. The NPU, intermediate organization, andmarket complement each other, mutual support, and mutual supervision. It not onlymake the power rent-seeking opportunities reduce, but also improve the efficiencybecause of relationship between the parties be straighten out. We come to the conclusions that there is a very active role in improvingoperation efficiency and project quality by introducing NPU and intermediateorganization to traditional PPP structure through" Game analysis of governmentperformance" and "Game analysis of governmental supervision and privateenterprise’ shirking their responsibility", which shows that improved PPP model isapplicative in China’s Indemnificatory Housing construction.