Research On The Funding Risk Of PPP Project

As a new type of modern financing mode,the PPP model plays a more and more important role in alleviating the pressure of local finance and promoting resource-based allocation of markets.In recent years,with the continuous deepening of reform and opening up,the process of urbanization in China has also been accelerating,and the demand for various types of public infrastructure construction has become increasingly evident.As a new type of financing model for public infrastructure construction,the PPP model will inevitably be used more and more in the course of the ongoing development of urbanization.Therefore,research on the PPP project has not only theoretical significance but also has important practical significance.Firstly,this paper gives a brief introduction to the topic background,research purpose and significance,as well as the domestic and foreign-related research status of the PPP model project.Then,it introduces the relevant theories of the PPP model project,mainly including relevant definitions,characteristics,development history and classification of PPP.In addition,the necessity of existing PPP model project is briefly explained.Through the theoretical introduction of these two chapters,this paper has a solid theoretical foundation.Secondly,this paper identifies the capital risk existing in the PPP model project and obtains a list of factors affecting the capital risk.These factors include financing risk,investment risk,capital operation risk,income distribution risk,management risk,legal and contractual risks,economic risks.The paper give a brief introduction of the influencing factors in the risk list.Then,based on the AHP method,a comprehensive risk assessment model for PPP project is established by using the fuzzy comprehensive evaluation model.Afterwards,this paper validates the evaluation model through a resettlement housing expansion project in Chengdu.A hierarchy of financial risk evaluation of the project is constructed.Through quantitative calculation,it is determined that the capital risk level of the resettlement housing expansion project is between normal and large.In addition,the impact of various criteria layers on the risk of funds is also sorted.The sorting results show that economic risk and management risk have a greater impact on capital risk,while legal and contractual risk and political risk have little impact on the overall project's financial risk.Through case studies,the fund risk assessment results provide ideas for project establishment and fund risk management of a resettlement housing project in a certain county in Chengdu.Finally,aiming at the capital risks existing in the PPP project,the corresponding capital risk prevention measures and recommendations are proposed.And according to the different types of risks and different impacts,the existing risks are divided into four categories: acceptable risk,preventable risk,transferable risk and deductible risk,providing a more effective and convenient basis for future risk prevention and response.The significance of this paper is to enrich the factors of capital risk in PPP project and to divide the capital risk of PPP model according to acceptable,preventable,transferable and reducible.The model is verified through case studies,which provides an effective reference for future fund risk research on PPP projects.