A Study On Application Of PPP Mode In China's Urban Infrastructure Construction

In the third Plenary Session of the 18 th CPC Central Committee,the party made clear that "We must properly handle the relationship between government and market,accelerate the transformation of government functions,let the market play a decisive role in the allocation of resources;deepening the reform of investment and financing,to allow social capital to participate in the city infrastructure investment and operation by way of franchising." The current situation of China's economic development has entered a new norm,economic growth by the rapid growth in the past to the rapid growth of local government revenue growth also showed a downward trend,the city infrastructure construction is facing huge financial pressure,the traditional government led financing model cannot meet the needs of local government infrastructure construction.The financing platform should be standardized transformation.So,innovative infrastructure investment and financing model,promoting the application of PPP model in the construction of infrastructure is imperative.In May 19,2015,the State Council issued the?notice on the promotion in the field of public service government and social capital cooperation mode guidance?,to further guide our local government use of government and social capital cooperation model in the process of infrastructure construction,that is PPP mode.This is the central government in the process of deepening the reform,attach great importance to the investment and financing mode innovation of supply mechanism of public services and infrastructure construction,major reform initiatives is the transformation of government functions,stimulate the vitality of the market,to create a new economic growth point.Therefore,to deepen the study on Application of PPP model to further play the role of PPP mode in city infrastructure construction,make full use of social capital to improve the public utilities construction financing mode has a very important practical significance.This paper take the application of PPP mode in city infrastructure construction as the research object,using the qualitative analysis and standard research method,and based on the study of the case analysis of the Beijing Metro Line 4 and Hangzhou Bay Bridge project PPP,summed up the current PPP in China's city infrastructure construction application the economic benefits and problems,and puts forward the countermeasures to perfect relevant for the current PPP application problems.This paper mainly divided into five parts:The first part describes the background and significance of this study,the relevant existing research literature at home and abroad are summarized and analyzed,describes the research ideas and methods of this paper,the possible innovations and shortcomings.In the second part,the related concepts and theoretical basis of the research are described.This paper introduces the connotation and types,functions and features of PPP model,and the operation process of PPP model.Theory of public goods,government failure theory and the new public management theory and other related research theory are described in this paper.In the third part,the PPP mode operation project of Beijing Metro Line 4 and Hangzhou bay cross Sea Bridge is selected as the case study object.Through the combination of relevant data,the reasons for the success and shortage of the two projects are analyzed.The fourth part,based on case analysis,analyzes the problems in the application of PPP model in China's urban infrastructure construction from the aspects of system construction,the main responsibilities,financing channels,risk management and control and organization management.The fifth part,proposes the countermeasure,improve the application of PPP mode in city infrastructure construction in China including: perfecting the relevant laws and regulations system,the transformation of government functions,to broaden the financing channels,improve the sharing mechanism and the formation of professional risk management institutions PPP.