Research On Legal Issues Of PPP Financing

Due to the objective needs of China's current economic and social development and the support and guidance of the central government,in recent years,the PPP(Public-Private Partnership)model has been rapidly promoted in China.However,compared with the more mature western countries,China is still in the early stages of the development of the PPP model.The relevant laws and regulations,supporting policies and systems need to be formulated and improved,resulting in many problems and risks that PPP is faced with in practical use.Financing,as a problem that needs to be faced from the storage of the PPP project to the final implementation and transfer of the project,determines the success or failure of the PPP to a large extent and should be given high priority,and since 2017,the National Ministry of Finance,the National Development and Reform Commission and other relevant ministries have issued policy documents on preventing the risk of PPP financing one after another,which can also reflect the importance of PPP financing and the necessity of regulation.Based on the analysis of the development course of PPP mode in China and the analysis of the nature of PPP investment and financing,this paper draws some thoughts on the current PPP financing system.According to the characteristics of PPP financing as well as the policy documents issued by the State Council and various ministries and commissions,this paper analyzes and discusses the legal problems existing in PPP financing and puts forward its own views and opinions on the related issues from the perspective of three issues: the explicit stock debt of the PPP project financing,the imperfect PPP project asset securitization system,and the unsound social capital exit mechanism.