Research On Risk Sharing And Countermeasures Of Basin Ecological Compensation Based On PPP Model

For a long time,the overdevelopment of watersheds in China and the development model that neglected the carrying capacity of the ecological environment made the ecological environment of the watershed overwhelmed and difficult to sustain.At present,the funds for ecological compensation in river basins in China are still mainly financed by central and local governments.The shortage of compensation funds has seriously affected the effectiveness and efficiency of ecological compensation in river basins.Therefore,it is necessary to introduce social capital in the ecological compensation of river basins,and to play the role of the market in the allocation of resources.Since 2014,the government and social capital cooperation(Public-Private Partnership Model)has received extensive attention in China's municipal engineering,transportation,and comprehensive urban development.This new type of financing model combines the advantages of bot h government and social capital in project management,and also solves the problems of project financing difficulties and single funding channels.It is a good direction for river basin ecological compensation project financing.However,due to the strong public welfare of the river basin ecological compensation project,its investment scale is large and the investment period is long,the project risk is difficult to judge,so it is not highly recognized by social capital.Today,we are faced with how to attract social capital in such projects and how to share the risks of such projects with social capital.Based on the above research background,this paper first analyzes the risk-related theories of watershed ecological compensation PPP model and proposes some theoretical basis.Secondly,from the perspective of social capital,this paper sets a risk sharing framework for the basin's ecological compensation PPP model.O n this basis,this paper builds a risk assessment model for the project in the initial sharing stage,and uses Monte Carlo simulation to evaluate the project's feasibility;in the overall sharing stage,a game model for risk sharing is constructed for the project,further The proportion of social capital risk sharing in the PPP model of river basin ecological compensation project was discussed.Finally,this article selects the Yanjin Lake environment and ecological engineering in the Chishui River Basin as the case application object,uses the above model for risk analysis,and draws relevant results and countermeasures.By constructing a risk sharing model,this paper helps social capital to evaluate the feasibility and balance risk-reward situation of ecological compensation PPP model projects in river basins,and solves the problem of investment concerns caused by socia l capital's uncertainty about the return of ecological compensation projects.At the same time,according to the problems reflected in the case,relevant policy suggestions and measures were proposed,which improved the current incomplete PPP model and sys tem of ecological compensation in river basins and considered incomplete issues.It has certain research content and system innovation.It is hoped that the risk sharing mechanism of PPP projects can be improved,and the risk of social capital investment is dispersed or reduced,so as to increase the enthusiasm of social capital for participating in river basin ecological compensation projects.