Research On Risk Sharing Of Sponge City PPP Project From The Perspective Of Game

As my country's urbanization process continues to accelerate,the traditional balanced model of urban population growth and ecological development has gradually been broken.Water resources are therefore facing various problems such as floods,water shortages,runoff pollution,and groundwater level decline.The problem is that the construction of the sponge city is to build a perfect rainwater management system and facilities in the city to alleviate the above urban ecological problems.Sponge city construction has been actively promoted by governments across the country in recent years.From 2015 to 2016,30 pilot cities were established nationwide for sponge city construction.Each pilot city has invested heavily in the planning and construction of sponge cities.100 million yuan,more than tens of billions of yuan,resulting in an increasingly obvious funding gap for the construction of sponge cities.The amount of government financial subsidies alone is limited,and it is difficult to make up for the huge funding gap required.At this time,the introduction of the PPP model into the construction of sponge cities as the preferred method of financing can promote mutual benefit and win-win situation between the government and social capital.The Sponge City PPP project involves many project target attributes,spans multiple entities,long construction and operation cycles,and complex risk factors.The key to the success of the PPP project lies in the scientific and rational allocation of risks.Therefore,it is necessary to develop a scientific and reasonable risk sharing mechanism.Ensure the sustainable development of the Sponge City PPP project.Firstly,in the context of the current urgent need for the construction of sponge cities,the issues to be studied in this article are put forward,and the domestic and foreign research status is summarized and summarized from the four aspects of sponge cities,PPP project risk identification,risk evaluation and risk sharing.Secondly,in the stage of in-depth and comprehensive identification of the risk factors of the sponge city PPP project,through the selection of the most representative domestic and foreign relevant literature in the major literature databases and the risk factors of 5 sponge city PPP projects in the implementation stage of the PPP project library of the Government and Social Capital Cooperation Center Summarize and study the risk factors that occur more than 4 times,including 18 macro risk factors,10 meso-level risk factors,and 3 micro-level risk factors.And elaborated the risk sharing principle of PPP project.It elaborated the respective interest pursuits of the main government departments,social capital parties and financial institutions of the sponge city PPP project,established an evolutionary game model for the cooperative attitude of the main government departments and social capital parties in the face of risks,and discussed The attitude of cooperation eventually evolved into the premise of “ active cooperation”;a complete information static game model was constructed based on the differences in risk appetite of the main government departments,social capital parties,and financial institutions and the output returns,and the identified risk factors were divided into Non-shared risks and shared risks;for the risk factors shared by the sharing entities,the two-stage bargaining game model is established to solve the sharing ratio of the sharing entities.Finally,combined with the case study of the Sponge City PPP project in Baiyuanhe District of Ping Xiang City,an evolutionary simulation of the cooperative attitude of the risk-sharing government departments and social capital parties was carried out.According to the preliminary risk-sharing model,the non-shared risks and The risk sharing is classified,using random values within the parameters of the random simulation bargaining game model,and the average value of the parameters is substituted into the sharing ratio formula to calculate the respective sharing ratio of the three parties sharing the risk,which verifies the feasibility of the risk sharing model of the sharing entity And scientific.