Research On Risk Identification And Evaluation Of PPP In Traffic Infrastructure Construction

Since the introduction of the PPP model in China at the end of the 20th century,the PPP model has been widely used in China.On March 5,2019,the Second Session of the 13th National People's Congress was opened in Beijing.Premier Li Keqiang proposed in the government work report that innovative project financing methods should appropriately reduce the capital ratio of infrastructure projects and other projects;implement private investment support policies,Promote government and social capital cooperation(PPP)in an orderly manner.Referring to the PPP model under the direction of expanding investment means that the PPP model is once again valued and supported by the government.After cleaning up and rectifying last year,about 2,557 non-compliant PPP projects were cleared from the PPP project bank of the Ministry of Finance.The reason is that the PPP project has a long investment period and involves multiple stakeholders,resulting in various risks in the PPP project..According to the data of the PPP Center of the Ministry of Finance,as of the end of January 2019,the Ministry of Finance's PPP project management library had a total of 8735 projects with an investment of about 13.2 trillion yuan.In order to ensure the development and promotion of PPP projects,how to effectively identify and control the risks in PPP projects has become the key to the development of PPP models.Firstly,through the method of literature research,this paper sorts out the related literatures of infrastructure PPP financing mode,introduces the classification and basic characteristics of China's PPP model,and sorts out the existing literature from the aspects of risk identification,evaluation and control.Secondly,this paper takes X-city rail transit PPP project as the research object,identifies the risk factors based on the characteristics of the project "network separation"PPP model,establishes a risk evaluation index system,and adopts the fuzzy evaluation method based on analytic hierarchy process.The risk is evaluated.The SPC project company is taken as the risk subject.According to the different characteristics of different risks,the specific commitment subject is further subdivided.The risk sharing system of the transportation infrastructure PPP project is designed and the recommendations are given.The innovations of this paper are reflected in the following aspects:First,the layering and accurate identification of risk factors,and taking the rail transit project of X city as an example to establish a comprehensive and complete risk index for the risks existing in the traffic infrastructure PPP project.System.Secondly,according to the risk assessment results of the X-city rail transit PPP project,the countermeasures for controlling the risk are given,and the risk control strategy is extended to the general rail transit PPP project,so that the risk control theory of the urban rail transit PPP project is enriched.Third,unlike previous studies,which only generalize the risks,this paper divides the risk-bearing subjects and gives a risk control plan for the different characteristics of government departments and social departments in PPP projects.Therefore,the research in this paper not only supplements the risk identification and assessment theory of the existing urban rail transit PPP model,but also provides effective suggestions for each participant to control risks when applying the PPP model to China's transportation infrastructure.