Diversified Equity Under The Chongqing Highway Financing Model Research

In recent years,the development of chongqing highway construction exists many problems,such as lack of construction funds,high debt ratio,single financing model,these problems have severely restricted the chongqing highway construction and development.In accordance with the "Chongqing in 13 th Five-Year planning",chongqing new plans to build 1000 highway,the chongqing highway construction will require even more money.In the context of "the decision of the Central Committee of the Communist Party of China on major issues concerning comprehensively deepening reform",chongqing municipal government positively response national policy,developing the mixed ownership economy mode,leading to diversify the direction of chongqing highway development.Therefore,to find a feasible financing model to attract foreign capital,to solve the problem of high speed financing in Chongqing,to achieve equity diversification of the highway and to reduce the asset-liability ratio are in urgent need to solve the problems.At first,this paper makeing a detailed analysis of the feasibility of the application of equity diversification in Chongqing Expressway Financing shows that the application of equity diversification can be to solve the problem of chongqing highway financing construction provideing a new train of thought.Then for new equity diversified financing application in chongqing highway construction of adaptability were analyzed,and it is concluded that the BOT + EPC,BOT,TOT the three equity diversified financing mode is feasible.And putting forward the grey multi-level evaluation model chooses the most appropriate way of financing in three kinds of financing mode for a certain highway of chongqing to build equity diversification.Equity diversified financing for chongqing highway construction project,the realization of the interests of the core stakeholders is the assurance of project success.Therefore,this paper proposes to use the modified Shapley value method to allocate the core stakeholders' interests,so as to ensure that the core stakeholders' interests are fair and reasonable.From cracking the effect of chongqing highway construction financing difficult problems and realizing the core stakeholders of the two sides,selecting the financing evaluation index and putting forward the fuzzy hierarchy comprehensive evaluation model based on grey system evaluate the effects of equity diversified financing model applied in a particular chongqing highway construction.Finally in downtown chongqing highway along the river to financing the construction of the fuling reach as an example,with the actual data into the model to solve the problem,the BOT+EPC model should be taken whicn is the most suitable for the highway to build a diversified equity financing approach.And involved in the chain of the construction of the core interests of stakeholders are allocated and BOT + EPC financing model to evaluate the effect of,it is concluded that effect is feasible,it is concluded that the analysis results are consistent with the actual.So this article design the model of equity diversified financing for highway construction pattern selection of highway construction in chongqing,the stakeholders interests allocation equity diversified financing construction,and the application of equity diversified financing model performance evaluation provides a certain reference value.The research results show that more than equity financing model of the construction of the highway financing in chongqing,can effectively reduce the rate of assets and liabilities of the highway,introduce for the construction of chongqing highway construction funds and better promote the continued development of the highway of chongqing.