Study On Risk Sharing And Income Allocation Of Transportation Infrastructure PPP Project In Beibu Gulf

In the context of the new era,the construction of transportation infrastructure is related to the development of the national economy.Especially for the Beibu Gulf region,which has a location advantage and strategic position,the completion of its transportation system will affect the development of the Pan-Pearl River Delta and the China-ASEAN Free Trade Area.The existing transportation infrastructure projects in Beibu Gulf are mostly realized through government appropriation and government compensation.The financing method is relatively single.To promote the construction of the Beibu Gulf transportation network,the introduction of the Public-Private Partnership(PPP)model can provide financial support for the construction of the project and help the government achieve functional transformation and risk sharing.During the construction and operation,PPP projects are vulnerable to multiple uncertainties in the real environment,and the operability of the existing risk sharing and income allocation mechanism still needs to be improved.Therefore,in order to promote the construction of Beibu Gulf comprehensive transportation hub,it is imperative to study the mechanism of risk sharing and income allocation of the PPP mode.The content of this paper can be divided into the following parts: The first part is a theoretical introduction.By outlining the theoretical basis of the PPP model and transportation infrastructure projects,a model for constructing transportation infrastructure projects using the PPP model is elicited.An applicability of the PPP model for transportation infrastructure in the Beibu Gulf is given in the second part.First of all,by analyzing the current situation of financing for transportation infrastructure construction in Beibu Gulf and the problems of project financing,the necessity of adopting the PPP model is introduced.Then the application basis of the PPP model in Beibu Gulf transportation infrastructure project is analyzed,and the feasibility of adopting the PPP mode is derived.Finally,the transportation projects in Beibu Gulf that have applied the PPP model are listed.The third part is a study on risk sharing and income allocation of transportation infrastructure project by PPP model.Literature research and questionnaire survey were used to determine the risk list,and Likert five-level scale was used to carry out for initial risk sharing.The proportion of shared risk is determined through incomplete information bargaining game and the uncertain income allocation is constructed by an improvede ε-core between government and social capital.Through comparative analysis of two transportation infrastructure PPP projects in Beibu Gulf,the PPP model is studied to demonstrate the superiority of risk sharing and income allocation model in the fourth part.In this paper,a scientific mechanism of risk sharing and income allocation is constructed by considering that the government will carry out risk transfer by virtue of its absolute dominant position in PPP projects,and the actual income of the project is effected by the uncertain operating market.It enriches the research of PPP projects theoretical,completes the risk sharing process of projects,provides theoretical basis for project construction in practice,and improves the success rate of it.