The Analysis On The Risk Evaluation Of Port’s Public Infrastructure Financing Mode

In order to develop Chinese modern logistics, infrastructure is the indispensablematerial basis, so it must be a high starting point to build the logistics infrastructure.Port is a connection of the water transportation, which plays a very important role intransportation system. The construction of the port and the related infrastructure has agreat significance for the development of regional economy and society.Since, for the huge demand of funds of the construction of port infrastructure,mostly through the government financial investment channels to meet, however,because the construction of port infrastructure are generally large-scale infrastructureconstruction projects, which have characteristics such as the large demand of fund,long construction period, long investment return period, large scale and so on, so onlyrelying on government investment, the demand of funds is hard to meet. After leadingsocial funds and private capital into the infrastructure financing field and the differentfinancing risk will appear because of different channels to raise funds.Based on this background, this paper has summarized and analyzed a variety ofsuitable financing mode for port public infrastructure through the successfulexperience of foreign developed countries and domestic major city infrastructurefinancing with similar nature, and explore the use of asset pricing model, cash flowmodel and other mathematical method to analyze by quantitative analysis, estimatethe cash flow net present value (NPV) of different financing scheme based on thesame project, and then calculate the risk value VAR, then select the optimal schemewith a comparison between the different financing plan risk valuation. Finally,through the case of Guangzhou port to analysis, give some suitable mode for thefunds, and apply the VAR model into four kinds of financing scheme to verify itsfeasibility, thus provide a feasible method for government to choose financing scheme.So this paper has some reference significance for the study of port infrastructurefinancing in China.