Research On Financing Mode And Risk Management Of Lingshandaojian Forerunner Zone In Guangzhou

In recent years,for the purpose of promoting economic development and solving such problems pertinent to population,environment and transportation arising from urban development,as well as promoting urban transformation and upgrading,the municipal governments across Guangdong Province have launched various strategies for the development and construction of new urban areas,among which there are Cuiheng New Area in Zhongshan,Hengqin New Area in Zhuhai,Dapeng New Area in Shenzhen and Binhaiwan New Area in Dongguan.Hence,an upsurge in construction of new urban areas are undergoing in Guangdong Province.In new urban areas' earlier stage of development,a vast amount of infrastructure needs to be constructed.Under the current financial system of China,the finance of local government is basically characterized by "payroll finance",and the local governments find it hard to raise sufficient capital for the construction of infrastructure by solely relying on financial capital.Furthermore,new urban areas are currently in earlier stage of development,which makes the contradiction between the shortage of financial resources and capital demands of infrastructure particularly a prominent challenge.Hence,the issue of financing for the construction of infrastructure has become one of the most dominating challenges within the development of new urban areas.Consequently,to select proper financing modes for the construction of infrastructure is of great value for the development of new urban areas,A sound financing mode is capable of promoting the materialization,of new urban areas functions and improvement of their qualities as well as solving the financial problems existing in the construction of infrastructure;in the meantime,it can even exert certain influences on the success of new urban areas development.Via sorting out and comparing different financing modes for the construction of infrastructure,this paper made an intensive study on the financing mode of Lingshandaojian Forerunner Zone of Mingzhuwan Starting Area in Nansha District of GZ,and summarized the rational design of land value-added revenue distribution mechanism via this financing mode;by integrating the construction of infrastructure with the value of land grant,social capital was successfully channeled into as the financing subject for the construction of infrastructure in new urban areas.Furthermore,on the premise of not increasing the debt of local governments and by drawing support from the comprehensive advantages from various aspects,such as capital,talents,industry,technology,vision and market among others,the challenges facing financing for the construction of infrastructure within the development of new urban areas were solved effectively;moreover,the successful practice of "industry-city integration" for new urban areas was also promoted.Meanwhile,this paper put emphasis on the analysis of the deficiencies underlying this financing mode,such as its monotonous financing subjects and overly dependence on bank loan,etc.,and also put forward corresponding suggestions for improvement,via which,a set of integrated financing mode for the construction of infrastructure in new urban areas was formed and it is hoped that this might be of certain referential value for other blocks in Mingzhuwan Starting Area in Nansha District of GZ as well as for the development and construction of other new urban areas.