Research On The Risk Management Of PPP Financing Mode For Transportation Infrastructure Construction

With the rapid development of China’s economy,residents’ demand for transportation infrastructure is also increasing,but such a large-scale construction must require huge financial support,which is bound to increase the financial burden of the government.In order to solve the shortage of funds,the Chinese government began to vigorously promote the application of PPP mode,which can make full use of private capital and promote the progress of China’s transportation infrastructure construction.But some projects lack of PPP project risk identification and evaluation,are eager to blind construction,in the process of construction,due to long transportation infrastructure PPP project construction period,large investment,low returns on various uncertain risk factors,make the project failure caused by all kinds of risk,increase the risk of local government debt,so in the process of construction under the premise of how to ensure that the interests of all parties,accurately identify the traffic infrastructure construction of PPP project risk,and make effective evaluation,reasonable share the risk is the key to solve these problems.Against the above background,this paper adopts the checklist-RBS method,fuzzy comprehensive evaluation method,game analysis method,case analysis method and other research methods to carry out the following research:This paper includes six chapters.The first chapter is the introduction,which firstly puts forward the research background and significance of the paper,and introduces the literature review at home and abroad,research content and methods,and finally introduces the technical route and research innovation of this paper.The second chapter is related concepts and theoretical basis.It first introduces the concept and operation process of PPP mode,then puts forward the concept and development status of transportation infrastructure,and finally expounds the four theoretical basis of this paper.The third chapter is the problems and risk management process of China’s transportation infrastructure construction PPP mode,put forward the problems of the transportation infrastructure construction PPP mode,and introduced the transportation infrastructure construction PPP mode risk management process.The fourth chapter is the risk management research of the PPP mode of G204 reconstruction project,first introduces the general situation of the PPP project of G204 reconstruction project,and then carries on the detailed analysis and calculation of the PPP mode of G204 reconstruction project from three aspects of risk identification,risk assessment and risk sharing.The fifth chapter is the traffic infrastructure construction PPP model risk prevention and control countermeasures.From the government departments,social institutions,financial institutions three aspects of the traffic infrastructure construction risk prevention and control measures PPP model.The sixth chapter is the conclusion and prospect of this paper.Based on the above researches,the following three conclusions are drawn :(1)The risk management of transportation infrastructure construction PPP mode is mainly divided into three processes;The main problem in China’s transportation infrastructure construction PPP project are that the PPP policy and legal system is not perfect,the government role is wrong,the financing structure is single,it is difficult,the market supervision mechanism is not perfect,the PPP project income is low,the compensation mechanism is not perfect,the project risk sharing mechanism is not perfect and so on.(2)The risk identification of PPP projects in transportation infrastructure construction is carried out,and the risk list of PPP mode in transportation infrastructure construction in China is divided into 8 first-level indicators and 33 second-level indicators.The fuzzy comprehensive evaluation method is used to evaluate the PPP project of G204 reconstruction project.The overall risk membership degree of the PPP project is intermediate risk.Using the game model to solve the nominal and actual risk sharing ratio of each shared risk,it concludes that the risk proportion of government institutions is greater than that of private institutions.(3)The risk prevention and control countermeasures of transportation infrastructure construction in PPP mode should adopt a multi-pronged approach to strengthen risk management.In the aspect of government departments,it is proposed to improve the government’s public trust and decision-making level,perfect the legal system construction of PPP financing model,establish strict supervision mechanism,and provide the risk prevention and control countermeasures of financial security,it is suggested that a reasonable mechanism for sharing benefits and risks should be established,risk prevention awareness of enterprises and institutions should be enhanced,project feasibility studies should be fully carried out,and risk management professionals should be brought in and trained through various channels,the countermeasures of Risk Prevention and control are widening financing channels,perfecting fund guarantee and strengthening the supervision of PPP financing mode.The research innovations of this paper mainly include the following three points :(1)in terms of risk identification,the risk checklist-RBS method is used to comprehensively and accurately identify the risk list of PPP projects in China’s transportation infrastructure,breaking the previous method of expert visit verification.(2)In terms of risk assessment,the previous single use of ah P for risk assessment is broken.This paper combines ah P with fuzzy mathematical assessment.(3)In terms of risk sharing,the dynamic game model is used to find out the specific proportion of shared risks between government agencies and social institutions,breaking the previous qualitative research method.