Research On The Investment Management Of Government’s Infrastructure Projects

Infrastructure projects are generally material conditions of a nation’s survival and development, providing a solid foundation and guarantee for the economic development. Therefore, increasing investment in infrastructure projects has become the first choice of a nation to promote its economic development. At the same time, investment in infrastructure projects plays an important role in increasing employment, improving the income level and life standard of residents, coordinating regional development and optimizing the economic structure. However, because of the large demand of capital, the low rate of return and long investment recovery period, private enterprises are reluctant to intervene in the investment of infrastructure projects. Generally, infrastructure projects are provided by government. Even if some infrastructure projects can be provided by private enterprises, they have to get government’s authorization and be under government’s supervision. In this view, no matter who is the provider, infrastructure investment cannot be conducted without the participation of the government. Therefore, the infrastructure projects invested by government and those invested by private enterprises collectively refer to government infrastructure projects.Since reform and opening up, investment in government infrastructure projects has expanded to a large amount. Especially, since the2008financial crisis, in order to reduce the negative impact of financial crisis on economic growth, GOC launched a "4000-billion" economic stimulus plan. In November2008, the national Development and Reform Commission released a report about the "4000-billion" investment plan, which has more than1500billion will be invested in railway, highway, airport, water conservancy and other major government infrastructure projects. Such a large-scale investment will greatly promote the infrastructure construction of china, improving the infrastructure level. In contrast with the continual scale expansion of government infrastructure investment, there are many defects in the investment management. Because of the defects in management, government infrastructure projects also have many problems. Based on the content of government infrastructure projects management, combined with the whole construction process, this paper give a comprehensive analysis of investment decision, project financing, investment supervision and evaluation. It mainly includes the following six parts.The first part:introduction. In this part, based on the defects of investment management and the fact that the "4-trillion" plan will promote the investment in government infrastructure project, the author points out the significance of the this paper. At the same time, on the basis of existing research results, the author identifies the research ideas. According to the contents of this paper, the author points out the research methods that will be used in this paper.The second part:general analysis of the investment management of government infrastructure projects. This part mainly includes the definitions of infrastructure, government infrastructure projects, investment management of government in government infrastructure projects. Besides, this part introduces the theories about investment management of government in government infrastructure projects.The third part:investment decision of government infrastructure projects. First, this part introduces the definition and procedure of investment decision of government infrastructure projects. Second, this part inspects the investment decisions of government infrastructure projects in our country and other developed countries. Finally, advises to improve the investment decision are proposed.The fourth part:government infrastructure projects financing. This part firstly introduces the principles and basic patterns of government infrastructure projects financing. Then it reviews the evolution of Chinese government infrastructure projects financing and financing patterns in other developed countries. At last, this part points out the proposals that consummate infrastructure projects financing in our country.The fifth part, supervision on government infrastructure investment. In this part, the author firstly analyzes the necessity of supervision on government infrastructure investment. Then the author introduces the reality of Chinese government infrastructure investment supervision and the practices of other countries. Finally the author proposes measures to consummate supervision.The sixth part:investment evaluation of government infrastructure projects. This part firstly introduces the implementation and the evaluation method of investment appraisal government infrastructure project. Then conduct empirical analysis. Finally put forward the countermeasures to perfect our country government investment evaluation of infrastructure project based on the experience of developed countries.