Research On PPP Financing Model Of Road Reconstruction And Expansion Project In L County

In recent years,with the development of China's economy and the acceleration of the pace of urbanization,the demand for funds for infrastructure construction in various parts of the country is becoming more and more gap.In order to cope with the shortage of funds,the State Council has introduced a lot of infrastructure financing policies,including PPP financing mode,which is widely applied by local governments,and has gradually become one of the most important financing modes.PPP(Public Private Partnership)financing mode,also known as public-private partnership financing mode,refers to the cooperative relationship between the government and private agencies for urban infrastructure construction projects.In order to develop the local economy,the government of L county has continuously strengthened the construction of infrastructure.In 2017,the road reconstruction and expansion project of L county was officially launched.Because the L county government fiscal funds shortage,it is difficult to meet the needs of L county infrastructure funds,so the social idle capital requires the participation of the project investment and construction,in addition,in order to improve the project quality and efficiency in L county government has approved the application of PPP financing mode of road expansion project.The government and social capital in accordance with the law of equality and cooperation of PPP financing,to further accelerate the transformation of government functions,stimulate the vitality of social capital,improve the social public products and service configuration,let residents earlier and more and better enjoy the public products and services.Therefore,the research on the PPP financing model is of great significance to the development of urban infrastructure construction.This paper takes L county road expansion project PPP financing project as the research object,through literature analysis and case study,research methods and quantitative and qualitative analysis combining theory and practice,aims to explore the risk of L County Road Extension Project of the PPP financing project may exist,and put forward to ensure the effective operation of the project according to our proposal,to explore effective infrastructure PPP financing mode.Firstly,using the expansion project background and research status of PPP financing project carries on the analysis to the L County Road,and the basic contents of PPP financing mode in-depth analysis,the financing principle of PPP is introduced from the angle of theory,including the theory of fiscal decentralization,stakeholder theory and principal-agent theory.Based on the analysis of cases,reveals the system is not standardized,government and social capital have conflicts of interest and facing different risks by PPP financing project of L county road reconstruction project,and put forward to solve the above problems and risks through measures to strengthen the system construction,improve government functions and effectively prevent project risk the effective operation of the PPP project to be protected.