The Research On Improvement Of Financing Mode Of Changsha Metro Group Co.,Ltd

Along with the advancement of the urbanization process in China and the rising of living standards,it gives prominence to people's demand for fast and safe transportation.Urban rail transit becomes a significant part of urban infrastructure construction.Urban rail transit project is always large and requires huge funds.At present,the construction of rail transit in most cities of our country is borne by the government's financial capital,while the operation cost depends on the financial subsidy during the operation period.Hence the government's financial pressure is heavy.Therefore,we need more efficient financing mode to improve the current situation of urban rail transit and promote the rapid development of urban rail transit.First of all,under the guidance of relevant theories of financing mode and PPP mode,by comparing the domestic success cases of the PPP mode in urban rail transit project,Beijing metro line 4 and the section 2 of Shenzhen metro line 4,this paper learns their own characteristic experience.Secondly,through the analysis of the current operating and financing situation of Changsha Metro Group Co.,LTD.,it is found that currently the company adopts the government-led debt financing mode.Under this financing mode,the company has problems such as insufficient internal financing,difficulty in debt financing and increasing financing pressure.Thirdly,aiming at the financing problems existing in Changsha Metro Group Co.,LTD.,this paper proposes an improvement plan for financing mode."Public-private partnership"PPP financing mode which brings in social capital can effectively reduce financial pressure,increase operation and financing efficiency,and be able to fit in with four principles—adaptability principle,low risk principle,competitive principle,and controlling principle.Hence PPP mode can be an effective way to solve the financing problems of Changsha Metro Group Co.,LTD..At the same time,combining the financing environment and policies of urban rail transit development in Changsha,building the reasonable equity and setting framework design,the new scheme of dual-SPV PPP mode is introduced into Changsha Metro Group Co.,LTD.,and the benefits prediction is given after the introduction.Then,it also puts forward the enlightenment of the PPP mode of urban rail transit in China.