Financing Research On Private Capital In The Toll Highway Project

The developed transport system has promoted the rapid development of economy.Nowadays high grade highways have always played significant role in transport system. The12thfive-year plan makes a suitable development for road constructions. The lack of money inroad constructions is the largest problem for sustainable development of highway industry.The article has been actively exploring toll roads construction of private capitalfinancing．The paper makes study on the follow aspects.Firstly，compared with our country’s toll roads funding and financing, we activelyanalyze toll roads funding and financing in developed country and proposed severalsignificant measures for private capital to enter toll roads constructions. Through fullyanalysis of toll roads trend and development scale of private capital and private investment inChina, we analyze the possibility of private capital investment in toll roads for the characterof toll roads and private investment requirement.Secondly，Through fully analysis of four financing methods of BOT,TOT,BT,ABS,given a list of project examples in China, we analyze how to apply in these financing waysand summarize defects and risk of these financing ways in practical application project.Finally，according to applying in our roads constructions for private investment，it isconcluded that there are some problems for private capital to enter toll roadsconstructions．Based on people’s thoughts，market economy system，legislation，governmentadministration and supervision and training of professional talents，we present some specificmeasures to improve the environment of private investment in China．According to applyingin project examples for financing ways，we analyze the same problem and allow privatecapital to enter roads constructions and to participate a feasibility a study while project isapproved. Compared road traffic with project feasibility study, It is fully understooddifference between project survey and real situation for private enterprise. Judging if a projectcan earn money and project risk，it can enhance the activity of private investment.