A Research On The Current Situation And Influencing Factors Of PPP Project ROI In S Province

PPP is a whole-process cooperative relationship between the government and social capital parties based on franchise rights and benefit sharing and risk sharing.By changing the supply mode of public goods or services,PPP can take advantage of both sides and seek improvement under market competition and incentives.The task of political and economic reform of the efficiency of public services,the government and social capital cooperation model can partially meet the funding needs of new urbanization construction,promote the reform of the budget system,and improve the ability of national governance.Promoting the use of government and social capital cooperation model is a major political and economic reform task set by the state,which is of great significance for speeding up the construction of new urbanization,enhancing the ability of national governance and constructing the modern financial system.Now the basic trading structure of PPP model inside the project ROI is the core index of the whole project evaluation,this index also determines whether the PPP project is attractive to social capital,but also affects the social capital side of the financing scheme,and directly related to whether the project can be implemented on the ground.PPP research at home and abroad mostly uses case studies,for specific projects or certain types of projects,the application is limited,for the project impact factors evaluation of the study of the use of questionnaires,based on empirical judgment has a greater arbitrariness,and the analysis results are greatly affected by the selection of samples.This paper carries on the research method Innovation,collects S province execution stage project data carries on the empirical research,the measurement analysis conclusion is helpful to the theory verification and the screening significant influence factor.This paper first expounds the definition of the return on investment of PPP project,then introduces the development of PPP project in S province,Combs all PPP projects in the implementation stage of S Province in recent years,and makes an empirical analysis of the factors affecting the ROI of PPP projects through literature analysis,statistical analysis and comparative analysis.Finally,the paper puts forward some policy suggestions for the promotion of PPP project in S province.Based on the research of cost-benefit analysis method and capital asset pricing theory,combined with the formation mechanism of PPP investment rate in PPP project operation practice in China,this paper puts forward total project investment,project cooperation period,project local government GDP,local government general public budget expenditure,administrative level,10-year bond rate,the fluctuation rate of Shanghai index in the month of winning time is to construct multivariate linear regression model,and the sample data is analyzed by using Eviews9.Judging from the regression results of all project data,the regression equation is remarkable as a whole,that is,"total investment of Project","Project cooperation period","local government GDP","general public budget expenditure of government","administrative Level","10-year bond rate","Shanghai Composite Index Volatility" These variables are really right.PPP Project ROI "has a significant impact.The impact of "total project Investment","project cooperation Period","10-year bond rate" and "Shanghai Composite Index Volatility" is the most important.Administrative hierarchy A comparative study of the types of industries found that this indicator was significant for both municipal and non-municipal projects,but the opposite trend.Based on the above analysis,the following policy recommendations are given,First,from the PPP project in recent years,whether it is sub-industry or sub-region,the return on investment of the project is the trend of first descending and then rising,in the 6%-8.5% range fluctuation.For the government side,the PPP project return on investment has a limited impact on the total cost of the project.Second,from the comparative empirical analysis of municipal projects and non-municipal projects,the impact of PPP project ROI factors are quite different,because the pure public welfare of municipal projects,no user-paid income,only operational maintenance,and operating is not obvious,performance appraisal to the government assessment mainly.It is suggested that the Government should consider the issue of local government bonds to solve,which can not only improve administrative efficiency,but also reduce the efficiency loss of social capital to form consortia,direct project bidding can also reduce engineering costs,local financing platform can still play an advantage in investment and financing management,can promote its transformation to urban operators similar market-oriented subjectThird,"Total investment in the project","Project cooperation period" is the most concerned by all parties of the project,but also the most likely to control the factors,the government as the leading party in the pre-project work,whether from the search for social capital cooperation or their own implementation of the project,it is necessary to study in depth.Fourth.for the operating costs of PPP projects,the Government should gradually establish an analysis database,through big data and artificial intelligence analysis of the actual operating costs of the project,value for money to achieve practical,can be based on value engineering,in the given functional needs of the discount of the total cost of bidding,the design,construction,operation of the full delivery of social capital side,can stimulate the vitality of innovation.