Investigation On That Law Of The Government Investment Fund In PPP

To improve the quality of public goods supply and to optimize the project operation and fund allocation,the PPP has been selected as the new solution of public goods supply after the rectifying of financing platforms.With the further promotion and development of PPP,the project financing has become a key influencer of the implementation of the PPP projects.By way of solving the financing problems of PPP projects,Chinese PPP Fund and some of the provincial PPP funds have been established,aiming at alleviating the difficulties of PPP funding,by investing directly via funds and guiding the investments from private department.Given the PPP governmental investment funds are still in the exploratory stage,and the regulatory measures are yet incomplete,which resulted in lacking the specific guidance and regulation in setting and functioning of PPP governmental investment funds.The further consequences include lower efficiency in fund operation and management,which does no good to the operation standardization.The thesis analyses the current supervision of PPP governmental investment funds in China and considers that there are several issues in the current supervision,such as unclear duties of supervision subjects,unclear legal roles of supervision objects and lack of supervision regulations.By learning the experiences of P3 Canada Fund,Joint European Support for the Sustainable Investment in City Areas(EU JESSICA)and India Infrastructure Project Development Fund(IIPDF),the regulatory experience is summarized as including a unified body of supervision,the determination of the legal status according to the contribution of the fund,the investment object of the fund in relation to the regulation rules,investment mode,investment limit management,etc.On the basis of that the legal counter measures to improve our PPP government investment fund are proposed in three ways,first of all,to monitor the main level of the government,the structure of the regulatory body of the SEC and the multi-departmental cooperation in the main body system;Secondly,for the factor of legal status for the regulatory objects defining,which is determined by fund capital source and fund participation way respectively;Finally,on the aspect of regulatory measures,it is necessary to establish a review and approval system for PPP government investment funds,stipulate the investment object and investment mode of the fund,and define the control of the fund.At the same time,it will supervise the withdrawal of the fund from the exit conditions,exit routes and exit procedures,so as to improve the legal system for the supervision of the PPP government investment fund.