Research On Risk Allocation Mechanism For Public-Private-parternership In Sponge City

At present,the cities in China have set off a boom in the construction of Sponge Cities.Although the Sponge City has advantages in the prevention and control of rainstorms,the utilization of rainwater resources,water pollution control,and water ecological restoration.However,the construction of the Sponge City requires a lot of funds.The central financial subsidies and local financial subsidies are limited.It is difficult to solve the huge funding gap of the project construction.The PPP model has been successfully applied to the construction of infrastructure projects such as transportation and environmental protection for the construction of the Sponge City project.For reference,the PPP model can not only effectively alleviate the government's financial pressure,share the investment risks of private investors,but also improve the service quality and operational efficiency of the project,but the Sponge City PPP project is still in its infancy and faces more complicated.The risk factors,therefore,identifying the risk factors of Sponge City PPP project and establishing a scientific and efficient risk sharing mechanism have important research significance.First of all,this paper discusses the research background of the topic and puts forward the research questions,clarifies the research purpose and significance of the topic,and defines the research content and research methods based on the research status at home and abroad.Based on the comprehensive literature statistics and the characteristics of the Sponge City,the risk factor list of the Sponge City PPP project was established,and the risk evaluation index system of the Sponge City PPP project was constructed.Questionnaires were distributed to the participants of the Sponge City PPP project to investigate the impact degree of each risk factor of the Sponge City PPP project.According to the theoretical research,the hypothesis model is established,and the structural equation model(SEM)empirical test is carried out to obtain the influence degree of risk factors on the Sponge City PPP project and analyze the cause.Secondly,it expounds the connotation of the risk sharing mechanism of Sponge City PPP project,including the research on risk sharing subject,risk sharing principle,risk sharing framework and process,and risk sharing model.Among them,the responsibility of risk factors is determined based on literature research and case analysis.for the shared risk factors,using the analytic hierarchy process and the fuzzy comprehensive evaluation method to determine the risk ratios of the two parties according to the risk management ability,risk value perception and risk bearing willingness of both parties,and finally point out the research deficiencies and improvements.And put forward the outlook.