| In 2016,the development of PPP meets the opportunity of formulating policies under background of "Thirteenth five-year" Plan,China's Central Economic Conference and Supply-side Structural Reform,the improvement of management practice,expansion of service areas and reduction of cost usher in unprecedented policy opportunities.PPP(Public-Private-Partnership) model plays an important role in promoting the transformation of government functions and giving full play to the role of market resource allocation.It's a new mode of long-term cooperation.Till now,China has totally processed more than 1000 PPP(Public-Private-Partnership) projects,involving areas such as transportation,telecommunications,energy and water,creating a large scale of total investment for over 900 billion RMB.The process further enriches the PPP management practice and the theoretical research,broadens the scope of public goods and sevice supply.Also,it benefits a lot in the maximization of benefits as well as the minimization of the cost,and the optimization of social efficiency.In our country nowadays,local government debt is serious and the construction of infrastructure funding gap is huge.The rapid development of the private economy for its participation in infrastructure construction laid the material foundation,but how to mobilize social capital to participate in public infrastructure construction is a key problem urgently to be solved to widely use the PPP model.In 2015,new round of exploration of PPP in China was still boosting continuously and comprehensively.Relevant state ministries and commissions have issued a series of policies and documents,aiming at further refining and consummating operation rules for PPP.Local governments also published implementation suggestions for PPP,along with announcing and generalizing most of them.Professional intermediaries actively participated in providing consultation services,execute solutions as well as giving assistance to local governments releasing purchasing and bidding information of PPP projects.Social capital take part in investment and construction of PPP projects actively.Along with the consistent improvement of Top-level Design in our country,the development of PPP mode will witness a high-speed and steady grow up without controversy.PPP may become an indispensable great power and engine to national economic construction.PPP mode will usher in an unprecedented policy opportunity,also will be paid close attention holding a crucial position in further reform.It is foreseeable that 2016 will certainly and obviously greet the peak of project landing and implementation.However,different from the traditional modes,PPP has features challenging the government capacity,for example,its long-term contacts and complication in management,etc.Further more,under current situation,latest new subject derives from trust among stakeholders and participation of the public in "Internet plus".Therefore,this paper takes the perspective of risk management which attracts more and more attentions from PPP participants as an example to demonstrate the possible impact of the key risk issues on the PPP project.Presently,China still lacks of specific,comprehensive,viable and referable operation procedure of PPP,so it's valuable to explore the hidden reasons and difficulties persistently and put forward corresponding suggestions in this respect.This not only has a theoretical value currently,but also has more important practical significance,which contributes far more constructively and instructively in the future to the optimization of PPP.This article is based on principal-agent theory,risk management theory and stakeholders theory,combining with theory of new public management and governance,adopting method of combining theory with data,analysis reality with real case and so forth,aiming at arising reasonable solutions eventually.Firstly,chapter one describes the background and significance,research methods and content,innovation and shortcomings of the paper as well as the process of PPP projects nationwide.A comprehensive analysis of both domestic and foreign scholars academic point of view makes a point of this article.Then,it elaborates the theoretical basis and the source of this essay and clarifies the concept as well as classification of PPP,making later research more pertinent and targeted.Further more,this paper tightly combines our national situation with PPP's development situation,timely proposes the existing obstacles of both universal and particular which come from regional differences,drawing the conclusion of the necessity of improving more and estimating its space.The problems are explained from four aspects,they're life cycle risk of policy,credit risk between public and private departments,risk of project contract default and risk of investment and financing.So,from the perspective of risk management and control,chapter four explains how the key points of the PPP risk management process affects the PPP projects,also indicates the identification,assessment and risk-sharing mechanisms during this procedure.This part introduces risk identification methods from two different disciplines,sums up risk sharing principle,frame and strategy as well as provides principle guidance for case analysis of PPP project.Later on,in the fifth part,the typical experiences and shortcomings of risk management in the development of PPP in China are studied with the help of Dalian Central City Waste Incineration Power Generation Project and Tianjin Shuanggang Waste Incineration Power Generation Project,which provide reference for rationalization suggestions and related improvement suggestions.Finally,the sixth part is the conclusion,which embodies the purpose of this article,combining cutting-edge theory and existing PPP policy guidelines of the current.Rationalization policy proposal for development of China's PPP mode are released from four plates,including reducing policy risk,controlling credit risk,cutting down default risk and preventing investment and financing risks.Their joint forces together provide reference value for PPP's theoretical research and practical application. |
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