Research On The Financing Mode Of Railway Construction In Jiangxi

To be considered as a significant component in the infrastructure facilities,the investment amount to railways reflect the initial motivation of the investment.Nowadays,challenged by the less development economic,Jiang Xi province should explore the opportunities of vastly motivated railway investment to improve the district economic development by utilizing this initial motivation.As the activities of Separate Government Functions from Enterprise Management and Deepen of Reform are finishing,the investment scheme dealt with railways are changing.National Government is gradually opens the investment right to local government,and the funding are collected by both National government and local government.This reform requires local government having high funding collection capability.In the period of13 th Five Year plan,Jiang Xi province is predicted to have a demanding of 35 billion funding,which is difficult to collect by following the previous experiences,therefore,to satisfy the development progress of the railway construction,the financing mode must be improved.Based on this background,the strategy and policy studies associated to the capital funding of Jiang Xi's railway construction method in the future is critical.In this study,a financing principle and outline is proposed based on tremendous literature review and analysis on domestic and international case studies and success experience.The current financing approaches and their shortcomings are systematically summarized by literature review,case study and practice.Based on these preliminary studies,the analysis is implemented based on the methodologies of Public-Private-Partnership(PPP)project finance,Infrastructure-related theory principal-agent theory and Financing structure theory.From the requirements of infrastructure construction,the development of the situation and the need to ensure the stability of the source of resources to achieve the requirements of strategic promotion to prove the necessity of reforming the financing mode of railway construction in Jiangxi province.This article summarizes the construction of medium and long-term railway in Jiangxi Province and inter-provincial railway construction planning,on the basis of this led to the urgent need for large-scale investment in Jiangxi railway.And then detailed describe the current railway construction financing and financing model in Jiangxi Province.Finally,we can find problems from the above financing models,such as over-reliance on debt financing,lack of equity financing,social capital entry difficulties,lack of financing model innovation and so on.According to the above problems,it is suggested that Jiangxi Province should further develop diversified financing channels,improve the comprehensive land development mode,strengthen the financing mode of equipment financing,perfect the equity financing mode and promote the innovation of financing mode.And introduced to increase fiscal and financial support to support bigger and stronger railway financing platform and other aspects of supporting policies.