The Research On Legal System Of Government Investment Supervision In PPP Mode

Government investment plays a practical role in stimulating economic growth, improving living standards and promoting happiness index. In modern country, the most of government investments is for infrastructure and public services. Due to the large amount of its investment funds, long and slow recovery of cost-benefit, and many other reasons, social capital is unwilling or unable to set foot in these areas. Because of the inherent fault of the current tax system, the government, especially local governments own limited property and bear an increasing number of local affairs. The financial burden of local governments is increasingly heavy, and financial crisis is aggravated. Accordingly, PPP mode is emerging.PPP, public-private partnerships, public and private set cooperation and share investment benefit. PPP mode is an effective exploration of the relationship between government and market. It resolves the financial crisis by way of revenue, and offers a new solution for financial predicament. The PPP mode has sprung up in China for a short time, and some problems expose in practice. The inadequate legal system of government investment supervision is one of the most important reasons. Therefore, combining with government investment supervision legislation and practice in the PPP mode in China, we should further analyze the existing problems, learn from foreign experience and explore the appropriate improvement measures.In general, any determination of concepts, study of issues and the construction of system are inseparable from the support of the theory. The content of supervision legal of government investment in PPP mode and its theoretical basis are foundation and premise to analyze the existing problems. Based on definitions and features of the PPP mode, government investment supervision, supervision legal system of government investment in the PPP mode, we summarize the theories of legal system of government investment supervision in the construction of PPP mode, including power-control theory, principal-agent theory and public-choice theory.Theory serves practice. Based on local status, we organize regulatory legislation of PPP mode in the government investment, and combine actual case of Beijing Metro Line 4 line to explore practice, analyze existing defects of the government investment regulatory legal system. The main problems are as following:the regulatory legal supply is insufficient; the regulatory subject construction is not in place; the consciousness of financial supervision is weak and the system construction is incomplete; the government dishonesty lack supervision, the regulatory approaches are single and lag; effective evaluation system and accountability mechanisms are missing. Based on practical problems and abroad useful experience, we propose perfect path correspondingly:such as improving PPP mode in the government investment regulatory legal system, including the formulation of government investment law, introduction of the specific PPP legal specification, and the improvement of PPP-related legal norms; improving regulatory institutions construction, including the establishment of independent and professional PPP investment management institutions, and professional quality improvement of regulatory personnel; strengthening the awareness and concrete financial supervision system construction; clarifying the risk-taking body, establishing compensation mechanisms for government dishonesty; improving supervisory methods to form effective connections between internal control and external supervision; implementing evaluation and accountability mechanisms to strengthen regulatory effect.