Research On The Financing Scheme Of Quasi-commercial Infrastructure Projects Under PPP Mode

With the deepening of urbanization in our country,a large number of infrastructure projects continue to be carried out,PPP mode has been actively promoted and applied in China because of its own advantages.However,due to lack of law,imperfect supervision mechanism and other reasons,PPP mode did not get a good application in the field of quasi-operational infrastructure.In order to make up for the shortcomings of previous studies,the author took the Xuanwumen project as an example,on the basis of hackling the concept and theory of PPP mode and infrastructure,accomplished the project nature analysis,risk identification and assessment,financing program design and evaluation work by applying research methods such as questionnaire,fuzzy comprehensive evaluation and VFM evaluation,The main contents of this study include the following four aspects.1)Establishment of the project salesability evaluation index system,and the calculation of the project salesability index.2)Accessment of the project risk,including occurrence probability,the danger degree and the importance of each risk factor through questionnaires and interviews.3)Design of the mode of operation,including the choice of the mode of operation,the structure of the capital,the return mechanism and the financing mechanism.4)Evaluation of the financing scheme put forward including financial evaluation,VFM evaluation and the comparison to other schemes.It is found that the nature analysis and risk identification of the project nature is an important prerequisite for the design of the financing scheme in quasi-elite infrastructure projects.The financing scheme designed in the paper has proved its own feasibility and superiority on this base.