Research On The Urban Trail Transport Industry Financing Issues

From around the world,the priority to the development of urban rail transport,including public transport,sustainable urban development has become a consensus.Urban rail transportation,for improving urban traffic environment,improve urban competitiveness,guidance and support urban spatial structure adjustment,promoting the process of urbanization,conservation of historic urban landscape,etc.have played a catalytic role.However,the urban rail transport plane also has a large amount of investment and long payback period,public interest is strong,weak profitability and other notable features,so the financing problems of urban rail transit is particularly important.In China,urban rail transit projects as large public infrastructure,mainly in government investment,the use of financial investment,and government credit as collateral,financial and credit activities carried out inadequate capital portion.Thus resulting single investment,less financing,limited the total amount of financing,financing is difficult,unable to meet short-term large-scale urban rail transit construction needs.Therefore,the financing of this study of urban rail transit industry is the key to move the industry.First,this paper introduces the theory of related financing urban rail transport industry,while the industry connotation associated financing issues involved in the definition of research in order to lay the basis for the full text,this part mainly literature study and inductive deductive method.Secondly,based on the urban rail transportation industry and rail transportation industry chain analysis,the industry status and the financing development of the industry will be described.Next,the establishment of urban rail transit A-share listed company financial indicators to analyze its financing scale,sources of finance,financing costs,financing risks and other analyzed by establishing the financing indicators,by 2010-2015 companies financial data,and solve the financing problems.Finally,by the companies financing problem,the whole industry and sample basis analysis,some recommendations can be put forward for improving urban rail transit industry financing issues.The first part is detailed introduction.This article describes the background and research value,and reviews literature at home and abroad with summaries.Analyzing the related literatures are both from home and abroad.We establish the formation of a preliminary understanding of selected topic related theory and research.Additionally,these preparations can lead to the main content of this paper and elaborate innovations and deficiencies.The second part is the definition and theoretical basis.This part mainly defines the concepts in the thesis such as urban rail transit industry financing,sources of financing,etc.This part also introduces the relevant theoretical basis,including public goods theory,concession projects theory and project finance theory.The third part is analysis of the overall status of urban rail transport industry.Using inductive deductive research methods,we analyze the general situation of the urban rail transportation industry and point out the chains development of urban rail transport industry in our country.Then,thesis analyzes the advantages and disadvantages of financing problem from three different rail transport financing systems.The forth part is descriptive analysis of A-share listed companies in urban rail transit industry financing system.We construct the index system of listed companies based on the A-share listed companies to establish the financing of evaluation system.Through financing scale,sources of finance,financing costs,financing risks indicators established,and this thesis makes an analysis of rail listed companies financing.The fifth part is the policy suggestions of urban rail transit industry financing issues.Owing to previous theory combing,industry analysis,this part puts forward the overall plan of industry financing situations.In the part,some policy recommendations also are put forward to complete our country urban trail transport industry.