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《Urban Mass Transit》 2008-04
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The Application of PPP Financing Model in URT Construction

Lu Qingcheng,Ma Jian School of Management, huazhong University of science and Technology,430074,wuhan,China  
With the rapid development of economy in China,a lot of new problems appeared,particularly in big cities such as traffic jam.At the same time,the situation of urban rail transit cannot meet the urgent needs of urban economic development.There are several reasons for this situation,however,and the key problem is the shortage of construction funding and the disadvantage of the existing financing model.In order to expand capital source, to improve the efficiency of construction and operation,a number of cities reformed the traditional "state-owned,state-run" model,and introduced the social investment and market competition mechanism into the process of financing,construction and operation,to achieve the goal of market-oriented operation of urban rail transit.As a new financing model for the construction of infrastructure,public-private-partnership(PPP) financing model gradually gains the wider concern in the field of infrastructure projects recently.This paper analyzes the characteristics and the implementation conditions of PPP model,discusses the operation mode of PPP in rail transit project based on the project operation of Beijing metro Line 4 and Shenzhen metro Line 4,points out that while applying PPP model in a subway project in China,attention shall be given to more than one issues.The authors argue that the government departments should regulate the operation rules,including the laws,the price system,the participant contract standards,and so on.With a full consideration to the situation of urban rail transport system and the successful application of PPP financing model in China,this paper provides some suggestions and strategies to cope with the urban traffic problems.
【CateGory Index】: F572
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