A Research On The Supervision System Of Urban Infrastructure Public-private Partnerships

China is at a stage of rapid development of urbanization process,relying on existing expenditure and local government investment and financing has been unable to fill the urban infrastructure funding gap.Public-private partnership system(PPP)will integrate the private sector to fund government investment and financing projects to ease the pressure on government finances,improve operational efficiency and service quality.However,due to the characteristic of quasi-public good and natural monopoly of urban infrastructure,if the government cannot conduct effective supervision of the problem,then in the process of urban infrastructure public-private partnership project implementation and operation prone to market failure,loss of efficiency and other issues,thereby reducing the operational efficiency and service quality,harm the interests of consumers.Therefore,to establish a sound scientific regulatory system for the implementation of urban infrastructure public-private partnership model has important significance.This paper firstly start with the risk factors of China's City Infrastructure PPP project in view,then clarify the risk factors closely related with government regulation,including changes in government policies,government intervention,government credit risk,social risk,moral risk,then analyses the main causes of these risks and propose regulatory demand for urban infrastructure public-private partnership combining the project characteristics and risk factors.Secondly,through the analysis of the current situation of urban infrastructure PPP regulation,it points out that the existing problems in the supervision system,including the imperfect laws and regulations,the lack of law enforcement basis,the overlapping of supervisory functions,the disorder of supervision,the lack of scientific supervision of the regulatory performance evaluation.Thirdly,through the comparison and analysis of the two typical cases of Beijing Metro Line 4and Quanzhou Citong Bridge,this paper summarizes the experience and lessons of supervision in urban infrastructure PPP project,and then draws that the urban infrastructure PPP regulatory system can be established from three aspects of the regulatory laws,regulators and supervision Performance.Finally,On the basis of the analysis of the outstanding issues in the current PPP supervision system and the comparative analysis of cases,this paper discusses the urban infrastructure PPPregulatory system from three aspects: how to improve the regulatory policies and regulations,establish an effective regulatory institutions,and build a scientific performance evaluation system.This paper may be innovative in the following aspects:(1)Put forward and demonstrate the overall framework of urban infrastructure PPP supervision system.This paper constructs the supervision system of urban infrastructure PPP from three aspects:supervision basis,supervision institution and supervision performance,and provides theoretical basis and basic train of thought for realizing effective government supervision.(2)The design of vertical and horizontal order of the PPP regulatory body system.In this paper,the vertical power allocation mechanism of hierarchical supervision is established,which is the effective combination of centralization and decentralization,and the horizontal rights allocation mechanism is coordinated by independent regulatory agencies and policy departments.So as to realize the design of the PPP supervisory system from both vertical and horizontal aspects.(3)Establish a scientific performance evaluation system of PPP regulation.This paper argues that performance evaluation on the regulatory bodies should be conducted from the aspects of regulatory input and supervision effect,regulators,PPP cooperative enterprises and consumers should be considered at the same time.