Research On The "Network Transport Separation" Of PPP Financing Mode In Building The Urban Rail Transit

With the level of urbanization increasing in China,the contradiction between the increasing demand of urban residents and the lack of public transport facilities has sharply increased.Local government pays attention to the urban rail transit,but the urban rail transit project always needs huge investment and its payback need a long period.Thus the project financing has become a key factor in the success of the urban rail transit project.Because of the efficiency and compatibility of PPP mode,it becomes one of the good ways for building the large-scale infrastructure construction.The state has introduced many policies to promote it,and its development prospect is very broad.In addition,the official documents also provide policy guarantee for the operation of "separation of network and operation" in the PPP mode of urban rail transit.The research question in this paper is to analyze and verify the advantages of the PPP mode through studying the urban rail transit project in city X,which uses the"Network Transport Separation" in PPP mode,and to summarize the experience of the mode for small city to build the urban rail transit.Foreign scholars' research on PPP mode is mostly based on local cases,and seldom involves how to use PPP mode to speed up the process of urbanization in developing countries.The domestic scholars have a short history of studying the PPP mode,lacking the research on the practical results of using the PPP mode in a specific field(such as the urban rail transit).The case study of urban rail transit PPP mode is mostly based on the PPP mode of Beijing metro line four,and the scope of case selection is narrow.At present,the research of "network transport separation" is mainly focused on telecom operators'business,power grid,railway transportation and so on.The application of "network transport separation" in PPP mode of urban rail transit is still vacant.The research ideas are as follows:First,summarize the problems of PPP mode in the urban rail transit project through the collection of cases.Secondly,it introduces the general situation of the urban rail transit PPP project in City X,including the basic situation of the project,the mode of operation and the structure of the transaction.Next,the advantages of the mode are analyzed,including risk management analysis,financial pressure analysis and operation mechanism analysis.According to the case,use the theory of risk management in the analysis of risk management;use the theory of antitrust exemption system in the analysis of operational mechanism.In the analysis of financial pressure,build the VfM quantitative evaluation model to calculate the financial pressure of the government investment mode and that of the PPP mode,to evaluate whether the PPP mode can save the government costs and whether the scale of investment is matched with the capacity of financial affordability.Finally,summarize the advantages and experiences of the "network transport separation" PPP mode of urban rail transit in city X.Hope that this article can provide some advice for small cities to make use of the PPP mode to build the urban rail transit project.And hope that this article can make a modest contribution to make up for the vacancies in China's PPP mode research in the field of Urban Rail Transit.