Financing Problems And Countermeasures Of Toll Road In Tangshan

With the fuel tax reform and the implementation of the State Council "on the opinions of strengthening local government debt management",Local transportation departments can no longer rely on the transportation financing platform such as toll and tolls.With the rapid development of Tangshan city toll road construction,road loans have generated a lot of debt to the local traffic departments.Money problems not only become the biggest bottleneck for developing Tangshan transportation enterprise,but also become a key problem to the survival of Tangshan transportation departments and affecting the general development situation of Tangshan City.Therefore,it is of great importance to study the financing problems of Tangshan toll road construction and their countermeasures under the new situation.It is also important to expand new ways of financing,and establish a diversified investment and financing system gradually.The research has not only the important theoretical significance but also practical significance to the sustained and healthy development of Tangshan toll road construction and its financial support.According to the above problems,this paper first states some related theories on road construction financing.Then,through access to the relevant data,the toll road construction financing experience both at home and abroad were reviewed,summarized and analyzed.Third,through field investigation and data collection,the writer summaries the present situation and analyzes the problems existed,such as lack of financial investment;financing channels,unreasonable structure,financing difficulty,high cost;inadequate capital projects,the increasing risk of financing;old PPP ideas;lack of PPP project reserves,imperfect PPP operation system.The root problem of Tangshan toll road construction financing is also analyzed.It lies in the lack of understanding to the toll road construction financing from the local government;less financial input;unreasonable planning and designing;high cost of project financing;low expected earnings and high risk of investment;insufficient open and transparent information;the declined consciousness of the social capital input;lack of understanding of the PPP mode;less experience and unsound system.Finally,aiming at the root of the problem,the writer puts forward some corresponding countermeasures:striving for more investment from both the national and local financial departments;setting up a financing platform;financing directly through the capital market;change old ideas,improve the willingness to participate in social investment,broadening the Tangshan toll road construction financing channels;optimizing the early design,completing the project reserves and storage,promoting Tangshan toll road construction financing by using PPP mode classification;strengthening project management;reducing the cost and risk;improving project benefits;ensuring project operation;establishing and perfecting a credit system and other institutional framework;and building a strong foundation of toll road financing;thus creating a good financing environment.