Study On Influencing Factors Of Landing Rate Of PPP Projects In Guizhou Province

Since 2014,China has vigorously promoted PPP mode for infrastructure construction and resolved local government debt crisis.As the province with the highest local government debt ratio at that time,guizhou government actively responded to the call to promote THE construction of PPP projects.In 2016,the number of projects and investment rose to the first in China.However,the landing rate of Guizhou province is not optimistic,that is,the number of projects that can finally achieve the landing and provide public services and infrastructure for the people is not high.Therefore,guizhou government needs to take multiple measures to improve the landing rate of Guizhou province.This paper innovatively adopts multi-layer linear regression model(HLM model)to comprehensively investigate the factors affecting the landing rate of PPP projects in Guizhou province from two levels of regional differences and project differences.Finally,through empirical analysis,it is concluded that the influence of regional factors is greater than that of projects.At the project level,demonstration level,investment amount and government payment return mechanism have a positive and significant impact on the PPP project landing rate,while public bidding and procurement have a negative and significant impact on the PPP project landing rate.At the regional level,local government’s financial capacity,marketization degree and population density have a positive and significant impact on the landing rate of PPP projects.Factors at the regional level will adjust the impact of factors at the individual level on the landing rate.In regions with strong financial capacity of local governments,the difference in landing rate between projects with government payment mechanism and non-government payment mechanism becomes larger.In the regions with high degree of marketization,the difference of project landing rate between public bidding projects and other procurement methods becomes smaller.Based on the results of empirical analysis,this paper puts forward corresponding policy recommendations from the regional level and project level.First,to optimize the external environment of PPP projects in Guizhou Province:(1)to strengthen institutional construction,strictly implement the PPP project system;(2)to strengthen local government financial ability,from a financial development ability,finance absorbing ability,financial self-sufficiency and fiscal support capability four aspects,attaches great importance to the tax structure,standardize collects pay tax,standardize their purse strings,set up a scientific system of the expenditure standard methods such as comprehensive promote local government financial ability;(3)We should continue to promote market-oriented development by streamlining administration and delegating power,supporting the private economy and opening up financing channels.Secondly,we should select the form of PPP projects suitable for this region:(1)Actively declare demonstration projects combined with regional characteristics to improve the proportion of demonstration projects;(2)Do not blindly choose popular public bidding procurement,especially in the low degree of marketization of the region;(3)On the basis of strengthening the financial capacity of the government,it can achieve greater effect by adopting the mechanism of government payback;(4)The government also needs to pay more attention to the projects with low investment,and actively connect with private enterprises,not only to improve the landing rate,but also to boost the private economy.