Research On PPP Financing Mode Of High - Speed Railway

Nowadays it happens that the restraint of capital as a bottleneck on high speed railway construction. Not only does reform of financing mode promote further development of high speed railway construction of our country, but it also ensures the accomplishment of development planning of high speed railway of China before2020. Based on combing all of financing mode of high speed railway construction project at home and abroad, the paper makes clear and focuses on PPP mode which is suitable for China, then remarks on related literature home and abroad respectively.Based on above literature research, the paper compares the high speed railway with other various vehicle, and sum up basic theory on PPP financing mode of high speed railway, and then conclude Portfolio of Pareto Optimality of PPP financing mode theoretically. So far there has never been one high speed railway in accordance with PPP financing mode, but KHRC is a typical case. With the consideration of factual working experience, this paper makes a statement on history and main duty of KHRC in detail, and makes an exploratory case study on Seoul-Busan high speed railway as the No.1in Korea, in order to summarize strength and weakness of PPP financing mode, as well as enlightenment that China applies PPP financing mode for high speed railway construction.Based on above case enlightenment and Chinese factual conditions, this paper demonstrate necessity and feasibility of implementing PPP financing mode in high speed railway construction. More importantly, the implementing countermeasures is offered from3layers:developing function of financing partner; establishing feasible motivating and suitable risk controlling system, especially emphasizing on applying excellent experience of PPP financing mode in high speed railway construction in UK to set up expert team and professional institution of PPP project, striving to guide high speed railway construction in China.