Research On Legal Issues Of Real Estate Securitization In PPP Projects

Under the PPP model, administrative organizations and the private subjects cooperate to provide the public service or products to the public. In China, the PPP model is mainly used in the construction and operation of infrastructures and public facilities, which has made a great contribution to the development of society. However, this model has a prominent problem, which means private subjects are forced to face the heavy financial burden. In order to broaden the private sectors'financing channels and to reduce the pressure on its financing process, the author thinks that we should support the private subjects to use the infrastructures or relevant interests as the foundation, issuing to investors directly to finish the financing process. This process is called the process of PPP project's real estate securitization. This paper studies some important legal issues involved in the securitization of real estate in PPP project, and puts forward its own views based on the existing laws and regulations, and presents some suggestions for the relevant legislation in China.The full text is divided into the following five parts:The first part is the preface. This part firstly expounds the significance of this topic and demonstrates the necessity of this study. Secondly, this paper briefly introduces the current status of the research on the legal issues of the real estate securitization of the PPP project. Finally, the main research methods adopted in this paper and the difficulties faced in this paper are clarified.The second part is about the basic theories of the real estate securitization of the PPP project. This part has two main functions:one is to introduce the basic theory. The author mainly introduces the PPP project real estate securitization transaction is mainly about two major theories -- PPP model related theory and real estate securitization related theory; the two is to limit and clarify the scope of this article. The theory and practice of real estate securitization of PPP project is very wide, because of the length of the article, the author cannot fully expand the arguments. Therefore, the author chooses some specific points to start the argument, and shows the reasons for the arguments.The third part demonstrates the feasibility of real estate securitization in PPP projects. This part proves that the PPP project real estate securitization does not violate the prohibition law. In addition, it reasons the details of PPP project real estate securitization under the current regulations in China and present ideas on promoting the current regulations.The fourth part focuses on the legal control measures for the risk of the PPP project of the real estate securities. Under the existing legal framework in China, the paper combines the relevant legal basis theory and proposes a series of measures to prevent and control the risk. The fifth part is the conclusion of this paper. This part of the systematically summarizes the main points and conclusions of the paper.