The Research On The Infrastructure Construction Financing Of The National New Areas

Since the 21 st century, the urbanization of China has been picking up speed, with a lot of economic development zones having been set up to attract businesses and investment, and promote local economic development. "Taking attracting businesses and investment as priority, and laying emphasis on infrastructure" is one of the ideas for the development zone to achieve rapid economic growth. By improving their infrastructure construction, the development zones can realize the transformation from relying on the policy advantage to the comprehensive advantage of investment environment, thus enhancing their capability of attracting businesses and investment. However, relying solely on the financial fund of the government falls short to meet the huge capital requirements in the short period of local infrastructure construction. Therefore, in light of the insufficient local financial resources, it is an important task for the current infrastructure construction financing theorists to think about how to expand the channels of infrastructure construction financing, and innovate the investment and financing management mode.This paper takes the Research on the Infrastructure Construction Financing of the National New Areas—Taking Zhuhai Hengqin New Area as the Case as the research subject, conducts an in-depth study on the channels of infrastructure construction financing and innovative investment and financing management mode in Zhuhai Hengqin New Area, summarizes the successful experience of that innovative investment and financing management mode, and provides beneficial reference to other new areas in infrastructure construction financing in the future.Taking the infrastructure construction financing in Zhuhai Hengqin New Area as the case to study the national infrastructure construction financing is a research subject which integrates theory with practice. This paper analyses the current condition of the infrastructure construction financing, and illustrates the condition by presenting some cases(in some Chinese cities like those in Gansu Province, Chongqing Municipal City, Inner Mongolia Autonomous Region and Tianjin Municipal City, and such economically developed countries as the United States, Britain and Japan), points out the problems in the present condition of the infrastructure construction financing, and analyses the new trends of the financing issue in our country. The paper attaches importance to the in-depth research and analysis on such financing channels in Zhuhai Hengqin New Area as "BT+EPC", "investment- construction integration", "joint development" projects’ financing mode, foreign bonds and foreign loans. Based on the above research, the paper also proposes policy suggestions on China’s innovative investment and financing management mode to attract social capital.