Legal Problems In Financial Risk Supervision In PPP Model

In order to solve the government's financial shortage when providing public goods and improve the quality and efficiency of supply,PPP model is widely used.Domestic PPP projects are mostly in the construction or operation stage,which has exposed many hidden dangers.However,in practice,there are a large number of illegal and irregular guarantees,arbitrary agreement on PPP project contract yield,repurchase clauses,"real debts of superficial stocks" phenomenon,which brings financial risks to local governments.Not only does it unnecessarily alleviate financial pressure,but it increases the debt scale of local governments and increases financial risks.Combining with the financial risks in our country's financial system and PPP model,this paper analyses the causes,manifestations and necessity of strengthening the supervision of financial risks in our PPP model.At present,in the PPP model,the financial risk supervision system,the existing policy documents are low-binding;there are loopholes in the financial budget;the PPP supervision subject is single and limited;there is a lack of financial risk early warning mechanism;and there is a lack of legal constraints on the investment decision-making behavior of local governments.Accordingly,it puts forward legal measures to improve the PPP model of financial risk supervision,speeds up the promulgation of PPP regulations to strengthen the binding force on all participants in PPP projects,strictly restricts government financial expenditure from the general public budget and government funds budget,introduces the Office of Financial Supervision Commissioner and audit departments,strengthens audit supervision,and establishes and improves the financial risk early warning system for non-standard PPP projects in a timely manner.Fiscal risks in PPP model should be disclosed publicly in time.Finally,local government investment decision-making should be strictly restrained and debt-raising should not be disguised.