The Improvement Of Legal Regulation And Risk Sharing Mechanism Of PPP Project In China

Public-Private-Partnerships is the full English name for the PPP.In our country,the PPP model is a new mode of government and private capital cooperation to jointly promote the construction of infrastructure public utilities.It can reduce the financial burden of government and help private capital to find ways to participate in the construction of public utilities and help the government pursue the maximization of public interest.The PPP model has undergone three stages of initial introduction,universal use and legalization in China.Since the end of 2013,the state started to formulate the legal norms and regulatory system of the PPP model.The emphasis was placed on the theoretical basis of PPP and the design of the legal system.Therefore,2014 was called the first year of China's PPP model.Since 2014,the government-private equity partnership project,Public-Private-Partnerships,has been booming nationwide with cumulative investment reaching new highs.However,in China,the low land use rate of PPP projects and the uncertain trend of the growth rate of the floor space have become unyielding diseases,limiting the economic and social benefits of PPP system innovation.Because of the lack of research on the PPP legal system,the pace of PPP project practice has far ahead of the legal system and theoretical foundation.The fundamental reason is that the localization model of PPP in China lacks a set of perfect legal system so that the legal risks of PPP projects can not be well controlled.The lack of a predictable legal environment has shackled the footsteps of private-owned capital investment in public utilities and led to The rapid development of PPP projects but still low incidence of stubborn diseases is difficult to eradicate.The purpose of this paper is to know the reform of the PF2 mode from the UK to the PF2 mode and to refer to the more mature PPP legal system and risk assumption in the legal system of internationally recognized PPP projects and to explore how to draw lessons from the extraterritorial legal system in China's localized PPP mode.The first chapter of this article firstly clarifies the concept of PPP,the process of PFI mode origin and evolution into PF2 mode in UK PPP project,clearing the conceptual obstacle for this article.After that,it analyzes the legal status and legal relationship between the parties in the PPP project agreement,and probes into the legal nature of the PPP agreement.From the domestic aspect of the legal nature of PPP projects,three domestic related theories are listed.Then,from the outside of the field for the legal nature of the PPP project to explore the level of the German administrative jurisprudence on the nature of the legal nature of the PPP project,enlightenment for the PPP project in our dispute resolution provides a new direction.The second chapter focuses on the legal risks of domestic PPP projects.First,the common legal risks are identified and classified into legislative risk,legal operation risk,judicial risk,corruption risk,default risk and force majeure risk.Afterwards,it elaborates the legal regulation and risk sharing mechanism about PPP in our country and sums up the shortcomings of legal regulation and risk sharing mechanism.The third chapter elaborates the legal system of the PPP project in the UK in the first place.The first is the overview of the legal regulation of the PPP project in the UK and the review of the PFI mode.On the premise of affirming the superiority of the PFI mode,the article points out the urgently needed reform of the PFI mode.The failure cases of the London Metro Metro PPP project in the United Kingdom summarize the reasons for the failure and reflect the need for the reform of the UK PFI model.Then it introduces the reform of PFI mode to PF2 mode in detail,introduces the reform measures of PF2 mode for risk sharing mechanism,and summarizes the principle of risk sharing in PF2 mode in Britain.In conclusion,based on the jurisprudence of the PFI mode reform in the United Kingdom,this paper examines the need for improvement and reference of the PPP model in our country,summarizes the enlightenment of the PPP legal regulation in the UK on the legal regulation of PPP in our country,and the risk sharing mechanism in the UK PPP project For our country.We shall study the mature PPP legal regulation and risk sharing mechanism provides the direction in UK.