Research On The Legal Guarantee Mechanism Of Social Capital Withdrawal From PPP Project

In PPP projects of the whole operation process,sound exit mechanism will increase liquidity in the project investment,attract social capital actively involved in the project,effectively resolve the "government hot,society cold" problem.At present,there are still many problems in exiting social capital in practice.Some problems have severely restricted the development of PPP.And the research on the withdrawal mechanism of theorists is very scarce.In this paper,on the basis of the study of related cases,analyzes the social capital exit mechanism in the PPP project practice legal problems of the present situation,as well as outside experience,and has the specific legal advice is put forward.In addition to the introduction and conclusion,this paper is divided into four parts:The first part is the theoretical basis of social capital withdrawal in PPP projects.This section first introduces the connotation of social capital withdrawal from PPP project,mainly elaborates the concepts and basic legal relations involved.Secondly,it analyzes the practice status quo of social capital withdrawal in our country’s PPP project,and analyzes 23 classic cases to conclude the reasons why social capital withdraw from PPP project and the necessity of perfecting exit mechanism.This part builds a solid theoretical analysis framework for the legal protection mechanism of social capital withdrawal from PPP project in our country.The second part is the legal problems of social capital withdrawal in PPP projects in China.This part first analyzes the current our country legal rights of social capital in the PPP project limitations,lead to law appeared in the process of social capital to exit the supply situation,and based on the contract of power has become the equivalent of the administrative approval.Second,the social capital to exit the risk prevention mechanism is not sound,such as imperfect risk sharing and profit distribution mechanism,government credit system is not sound,cannot provide effective judicial guarantee and dispute resolution mechanism still is not perfected,etc.Finally,based on the analysis of the Eleventh Guiding Cases No.53 of the Supreme People’s Court,sort out the forms and causes of risks that may be infringed upon the rights and interests of creditors when social capital withdraws from the project.The third part is the experience and reference of social capital withdrawal in extra-domain PPP project.This section introduces the legal framework and management mechanism of the extra-territorial PPP project as well as the way of withdrawal of social capital.It concludes with two suggestions that our country can learn from.And summed up two suggestions for our country to learn from.That is the sustainable development of PPPneeds to improve the legal framework and establish a compound exit mechanism.The fourth part is the legal suggestion on the withdrawal of social capital in our PPP project.This section addresses the above problems,put forward the following four points on social capital withdrawal legal advice: First,the construction of PPP legal security system.Through the promotion of PPP’s legislative process,the regulatory agencies of PPP projects as well as the administrative approval procedures for the withdrawal of social capital are clarified to provide a solid legal guarantee for social capital.Second,improve the social capital withdrawal of supporting measures.Through such measures as asset securitization and trading platforms for PPP assets,the will provide diversified and standardized exit channels for social capital,promote the market-oriented withdrawal of social capital and make social capital actively involved in the projectt.The third is to build a reasonable risk sharing and benefit protection mechanism.By optimizing the risk sharing mechanism,a more targeted risk allocation plan can be worked out.Establishing a reasonable safeguard mechanism can attract social capital to actively participate in the PPP project.Fourth,build a mechanism for safeguarding the rights and interests of creditors.By establishing insurance matching measures and perfecting the system of revocation and invalidation in bankruptcy law and the denial of corporate personality,the rights and interests of creditors can be effectively protected.