Research On The Application And Financing Model Of PPP Model In The Field Of Infrastructure In China

Infrastructure construction is an important starting point to promote the urbanization process and stimulate economic growth. At present, China is in a period of rapid development of urbanization, and infrastructure development is in full swing. In general, it is high for the amount of investment in infrastructure and its construction period is long. The costs of operation and management are relatively high and their own characteristics are relative prominence in social welfare and monopoly. China has been the construction of infrastructure management by the local government when local government debt burden was too heavy. Third Plenary Session of the Party's eighteen putted forward to accelerate the pace of transformation of government functions, give full play to the initiative to regulate the market, Gradually liberalize the barriers to entry of infrastructure investment and financing for allowing social capital to enter, quickly establish a modern investment and financing system. 2015 State Council executive meeting proposed to streamline the approval and support of local government and financial institutions to set up a fund, take measures to attract social capital to participate in the investment and services, operation and management of public goods and services. Although the PPP model to get support from the government level, it still faces many challenges especially for financing in practice. Infrastructure has been strong private capital formation barriers to entry for a long time, and PPP model is not perfect trading system and legal supported. It is worthy of further exploration on how to guarantee the efficient operation of the PPP model and obtain sufficient capital to support the rapid expansion of the infrastructure during construction.To solve these problems, the paper bases on public goods, government failure, agency and project four theoretical distinction between these four theories, using case studies, comparative analysis, empirical analysis and deductive methods,analysis infrastructure PPP mode of combining qualitative and quantitative. Based on the study of the nature, features, functionality, advantages and financing mode of PPP models, explains the necessity of infrastructure through PPP model, comparatives and analysis on the different PPP financing models and the way they operated under different, pointing out that our current problems of infrastructure PPP financing model. Finally, learning the advanced experience of infrastructure demonstration project PPP model from the United Kingdom, the United States and Beijing Metro Line 4, taking the principle of "the market play a decisive role" and "take advantage of the functions of government macro-control" in the allocation of resources, based on the PPP model of infrastructure problems raised from financing construction, government construction, system construction and project four angles, this paper puts foreword policy recommendations to optimization of infrastructure PPP financing model to promote government and social capital together to strengthen the infrastructure construction continuously.