Risk Evaluation And Response Of Joint Ventures Of Sino-Foreign Overseas High-Speed Rail Projects

In the context of the "Belt and Road",the high-speed rail project,as a business card for the export of China’s foreign projects,is not only a traditional low-end product,technology,and labor service export,but also a manifestation of China’s technological innovation.The establishment of a joint venture with foreign contractors can not only effectively open up the local engineering market,but also take advantage of the foreign party’s advantage in the host country.Although the joint venture’s engineering cooperation model is a construction model that is mostly adopted in the existing international engineering contracting market,it is inevitable that there will be differences in cultural background,management methods,interest claims,etc.,or uncertainty caused by external uncertainties The incident led to unfavorable communication between the parties to the joint venture,conflicts of interest,and other unfavorable results of the joint venture’s cooperation,which in turn led to risk losses.Therefore,to coordinate the communication and cooperation of the parties to the joint venture,resolve the conflicts of interest of the parties to thejoint venture,and integrate the culture and management methods of the parties to the joint venture.It has become a key point for Sino-foreign overseas joint ventures of high-speed rail projects.This article first elaborates on the definition and classification of Sino-foreign cooperative overseas high-speed rail project joint ventures,analyzes the reasons for the formation of joint ventures,and analyzes in detail the definition and formation mechanism of Sino-foreign cooperative high-speed rail project joint venture risks.Secondly,through literature analysis and case analysis,the risk factors of Sino-foreign cooperative high-speed rail projects were comprehensively identified,and a risk assessment system of Sino-foreign cooperative high-speed rail project joint ventures was constructed.This evaluation system is applied to the risk assessment of the joint venture of the Jakarta-Bandung High Speed Rail Project,and the project risk is evaluated through ISM-ANP to obtain the risk level of the joint venture of the Jakarta-Bandung High Speed Rail Project.Finally,the article draws out the risk response strategy of the Sino-foreign cooperative overseas high-speed rail project consortium,and proposes corresponding countermeasures against internal and external risks.