Research On Financing Mode And Improvement Of Urban Rail Transit Construction

Over 40 years,urban rail transit construction advanced by leaps and bounds in China.Raising huge construction funds has become the primary factor restricting the development of urban rail transit because of large scale of investment,high technical standards,long payback period and other characteristics,The financing problem of urban rail transit construction becomes more and more outstanding and the current government led financing model for rail transit has considered as limitations and unsustainability.Therefore,in the background of macro policy adjustment and the government functions transformation of "big society and small government",how to expand financing channels,develop new financing tools in order to providing a sustainable and stable funds source for the construction and maintenance of urban rail transit,meeting the massive funds demand for urban rail transit construction and ensuring the healthy development of Chinese urban rail transit is extremely important.Through analyzing the evolution process of Wuhan urban rail transit financing,this paper proposes the Public-Private Partnership(PPP)financing mode and Asset-Backed Securitization(ABS)of PPP project financing mode aimed at the problems of Wuhan urban rail transit financing,intends to provide reference template for the urban rail transit construction financing for our country.On the basis of the previous studies,,this paper discusses the innovation of urban rail transit financing taking Wuhan Metro as an example,which is divided into six chapters.The first chapter is the introduction of the full text,discusses the research background and significance of urban rail transit construction financing,the research purpose,research content,research ideas,research methods and innovation.The second chapter is the theoretical basis and research.In this part,the urban rail transit construction concept,economic attributes,characteristics,PPP and ABS principle,and the literature review of related research at home and abroad will be introduced.The third chapter is a case study.Taking Wuhan Metro Co.Ltd as the research object,the this part will explain the reasons for choosing the company,introduce future construction plan and the importance and urgency of construction financing,analyze existing financing model of Wuhan Metro and its problems.The fourth chapter is analysis and construction of urban rail transit project financing.The PPP financing model and the PPP project asset-backed securitization financing mode are introduced to build the urban rail transit construction in Wuhan.Also,it summarizes the financing construction of Wuhan Metro and its enlightenment of urban rail transit construction financing in China.The fifth chapter is the research summary.