Research On Legal Issues Of Quasi-commercial PPP Project Financing In China

The problem of the quasi-commercial PPP project financing can be described as the dilemma that must be confronted directly in the practice of infrastructure reform and public service.At present,the difficult of China's quasi-commercial PPP project financing is mainly due to that the existing financing legal system can not protect the social capital side obtaining the reasonable income.Which extends that belonging to the same project financing legal system,commercial financing legal system and policy financing legal system can not be achieved unified regulation,and the specific legal system is difficult to meet the special needs of quasi-commercial PPP project and many other legal issues.This paper defines the connotation of quasi-commercial PPP project financing,and analyzes the particularity of quasi-commercial PPP project financing and its financial legal regulation,and then analyzes the participant and its legal relationship of financing PPP project financing.And then analyzes the participants of quasi-commercial PPP project financing and the legal relationships between them.Under the background of the current legislation in China,analysis the existing problems of special financing legal provisions,policy financing legal provisions and commercial financing legal provisions.And investigate the financing supervision,financing guarantee and financing capital of quasi-commercial PPP project in the extrinsic aspects.The thinking of the financial legal regulation of quasi-commercial PPP project financing in China,need to aiming at to realize financial legal regulation of the financing of quasi-commercial PPP project in the whole life cycle.Through completing of innovative ideas in modern commercial legal system,build a new concept of commercial financing legal system as the main part,supplemented by policy financing legal system,and the two parts complemented each other to unite financial legal regulation.Make perfect suggestions of financial legal system of quasi-commercial PPP project in the following four aspects.First of all,establishing the high-level legislation of quasi-commercial PPP project financing is the main content of the complement in specific legal system.Second,moderate lighten the land use right of quasi-commercial PPP project financing in investment restrictions,and strengthen the protection of the availability of the gap for the feasibility of subsidies,to improve the legal system of policy financing.Third,improve the commercial financial legal system from the following six aspects :improving thequalification of Special Purpose Vehicle(SPV),reducing the capital standards of PPP project moderately,improving the operability of the financing guarantee of quasi-commercial PPP projects,submission of different stages of financing information disclosure content;improving the adjustment mechanism of price,improving the exit mechanism of quasi-commercial PPP project financing,strengthening the management of quasi-commercial PPP project financing.Finally,clear the arbitration as one of the dispute resolution in quasi-commercial PPP project financing.Through the above suggestions,it will help to improve the financial legal system of PPP financing in our country and even to build the financial legal system of entire PPP project financing in the field of legal system tohelpful.