On The Feasibility Of Adopting BOT Mode In China’s High-Speed Rail

Presently, China’s high speed railway has gained both the ability and the advantages of "going out", therefore, it becomes an overwhelming trend that China’s high speed railway economy moves towards the international market. President Xi Jinping put forward the “One Belt” and “One Road” strategy respectively in September 2013 and October. “One Belt and One Road”, being both the corridor of international economic cooperation and international thoroughfare, to a large extent relies on high-speed rail "going out". However, this movement requires huge amounts of money, which is unaffordable for the government alone. To improve the financing mode of high-speed rail is the driving force to accelerate the "going out" strategy, and the guarantee of the competitiveness of China’s high speed rail. BOT model, which has been maturely developed abroad, has incomparable advantage over other financing modes in making up for the funding gap, improving the financing efficiency and enhancing the funds-utilizing efficiency, but has not yet been applied to China’s high-speed rail. In this background, this paper conducts a systematic research on the feasibility of applying BOT mode in China’s high-speed rail export.This paper first introduces the present situation of high-speed rail in China, and on this basis analyzes the main problems of China’s high speed rail. Secondly, according to these problems, the paper analyzes the necessity, advantages and disadvantages of adopting BOT mode in the exportation of high-speed rail, and points out that adopting BOT mode is necessary in this movement, and given that the advantages outweigh the disadvantages, therefore it is necessary and feasible. Additionally, the paper categorizes the risks of BOT model in this movement, and puts forward corresponding preventive measures.Then, by analyzing risk factors in the countries that Pan-Asia rail goes through, the paper determines the risk index structure and establishes fuzzy comprehensive evaluation system, according to the result of the comprehensive evaluation, points out that for those countries with higher comprehensive risks, significant dominant risk factors and secondary risk factors should be found step by step, and in the process of exportation of high-speed rail, scientific and reasonable preventive measures should be applied to these risks correspondingly. Finally, based on the problems the risk and the disadvantages of using BOT mode in the exportation of China’s high speed rail, the paper respectively put’s forward corresponding policy recommendations.The innovation of this paper resides mainly in two points: first, the innovation of research perspective. Existing researches mainly focus on the financing model of domestic high-speed rail construction, and researches on the application of BOT model is confined to domestic infrastructure construction; there is no systematic researches on adopting BOT financing mode in high-speed rail export. Therefore, this paper has certain groundbreaking significance for its research perspective. Second, the innovation of research method. In the process of establishing fuzzy comprehensive evaluation system of Pan-Asia high-speed rail risks, the paper first uses analytic hierarchy process(AHP) to construct the risk factor structure, then based on the risk factor structure, uses risk fuzzy evaluation method for risk evaluation. This method of combining the analytic hierarchy process and risk fuzzy evaluation method to establish fuzzy comprehensive evaluation system has certain innovative importance.