Study On The Governance Issues Of Special Purpose Vehicle In PPP Mode

The government and social capital cooperation(Public-Private Partnership,short for PPP)is to promote China's Ministry of finance since 2013,and the party's the third Plenary Session of the 18 th CPC Central Committee that allow social capital to participate in the city infrastructure investment and operation by way of franchising,which makes the PPP model to be interpreted as to improve conditions in reduce local government debt,the central government launched in the local infrastructure and public products such as the construction of a new round of financing and management mode,in September 2014,the Ministry of Finance issued "on the promotion of the use of government and The problem of social capital cooperation notification on,announced the launch of project cooperation mode of government and social capital demonstration in the national scope,the PPP mode again by the unprecedented attention,set off a boom in 2015,the Ministry of Finance in 100 billion PPP financing fund support,Since 2013,the government and social capital cooperation is to promote China's Ministry of finance,and the party's the third Plenary Session of the 18 th CPC Central Committee that allow social capital to participate in the city infrastructure investment and operation by way of franchising,which makes the PPP model to be interpreted as to improve conditions in reduce local government debt,the central government launched in the local infrastructure and public products such as the construction of a new round of financing and management mode,the Ministry of Finance issued " on the promotion of the use of government and The problem of social capital cooperation notification on,announced the launch of project cooperation mode of government and social capital demonstration in the national scope in September 2014,the Ministry of Finance in 100 billion PPP financing fund support,The Special Purpose Company(SPV)governance plays a key role in the PPP project construction as the particularity of PPP mode.Compared with ordinary companies,SPV emphasize the distribution of internal rights,obligations and the governance model,established by the organization,This paper starts with the category of corporate governance,On the internal and external governance model of Special Purpose Company in the PPP model,Provide management to the Special Purpose Company establish form selection in PPP mode,financing risk aversion,Interests balance of participants,the construction of financing guarantee mechanism,optimize equity structure etc.