| The infrastructure is a foundation of one country’s economic, which plays an indispensable role in economic development. But the construction of the present infrastructure of our country has been under-capitalized all the time. As a new-type financing mode, BOT(abb Of build-operate-transfer) financing mode has been paid more and more attentions for its unique superiority. However, because of BOT project’s long duration, a wide range of knowledge, and the big injecting capital, the risk management of BOT project becomes complicated and difficult, that has become the question which lots of researchers pay close attention to. So this paper regards BOT project as the study object, carries on a deep discussion to the project risk management under BOT financing mode. Meanwhile, this paper carries on the positive research based on the BOT project of Qingdao Dongjiakou harbor. Finally, this paper probes into the question existing in the present project riskinanagement of BOT in China, as well as proposes the suggestion in order to enhance BOT project risk management.BOT has been a more and more popular international project-financing mode since 1980s.The mode utilizes commercial capital to invest on infrastructure construction and transfers the property and Operation right gratis when the promissory time expires, that means, the financing and constructing of a project and then the final property. Compared with the traditional financing modes, BOT can not only ease direct finance burden and debt risk from government, but also introduce the advanced technology and management in, to improve the operating efficiency of project, to meet the social and public requirements in advance. However, its unavoidably weaknesses, e.g. huge scale capital requirement long term operation cycle, complicated structure, a lot of uncertain factors, esp.different sorts of risks, are always annoying. For successful BOT management, it is the key knot to reduce, avoid and share risks with reason.. Fail risk management induces the harm to the host country’s benefit, investors’ positivity and the final operating outcome of project, for this reason, all the BOT projects are based on the ascertaining and the sharing of the risks-At present, as BOT operation is still in its testing period in China, the risks’ management always follows international terms. It has to be acknowledged that some experience has been got from practice, but at the same time tlae incompleteness of the lex, the inaccuracy of the pre-feasibility-research, overcharged liability by the government imposepassive influence on the BOT project operation. Here we could make a conclusion that it is urgent and extremely important to introduce the successful case from foreign countries and to improve BOT project management at home, so that both government and investors’ benefits can be protected and BOT mode could be promoted widely and favorably in China.This paper structures the risk management procedure of a project at first. On this basis, proposes the methods to manage risk combine the characteristic of BOT project financing. This paper points out that BOT project should distinguish the risk from two respects:systematic risk and non-systematic risk. Then this paper carries on the risk management studies to the BOT project of Chongqing Yusui Highway. This paper uses AHP to analyze the project’s risk, the results indicate that completion risk, management and administration risk, technological risk and exchange risk are more important in this project. On this basis, this paper proposes some methods to control these risks, including signing contract of "paying keying", signing supervise and technological service contract, adopting currency extends bill. |
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