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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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【Citations】
Chinese Journal Full-text Database 2 Hits
1 Xie Weidong,He WenChina Development Bank,100037,Beijing,China;PPP Pattern Financing in Urban Mass Transit Realm of China[J];Urban Mass Transit;2006-03
2 Wu Zhihong;Application of Public Private Partnerships in China: Problems and Solutions[J];Journal of Shandong Finance Institute;2005-05
【Co-citations】
Chinese Journal Full-text Database 10 Hits
1 ZHENG Jie(School of Finance and Economics,Chongqing Jiaotong University,Chongqing 400074,China);On the Major Project Finance-Model of Chongqing Comprehensive Communication System[J];Journal of Chongqing Jiaotong University(Social Sciences Edition);2006-02
2 Cai Yuping(Nanjing Metro Company Limited, Nanjing 210008);Innovation and Application of PPP Mode in Urban Rail Transit Projects[J];Urban Rapid Rail Transit;2007-01
3 Yu Guoping (Zhejiang College of Finance and Economics,Hangzhou 310018);Monopoly and Competition in MTR Economy[J];Urban Rapid Rail Transit;2009-03
4 Chen Liuqin(Institute of Urban Economics, Tianjin Academy of Social Science, Tianjin, 300191 China);Pesearch on PPP Financing Mode of Infrastructure Construction[J];South China Finance;2008-12
5 Xie Weidong,He WenChina Development Bank,100037,Beijing,China;PPP Pattern Financing in Urban Mass Transit Realm of China[J];Urban Mass Transit;2006-03
6 Shen Guiping College of Economic & Management, Beijing Jiaotong Univ., 100044, Beijing,China;Analysis of Owership Issue in Urban Infrastructure PPP Model[J];Urban Mass Transit;2007-04
7 Deng Lianxi DTZ.200040,Shanghai,China;Application of Public-Private Partnership in Quasi-commercial Infrastructure Project[J];Urban Mass Transit;2007-11
8 Peng Hua Xiang Jungu(Southwest Jiao Tong Vniversity,Chendu 610031,China);On Private Risk of PPP project Financing and its Countermeasure[J];Journal of Guangdong Polytechnic Normal University;2006-06
9 Chen Liuqin(Tianjin Academy of Social Sciences,Tianjin 300191,China);The Discussion about PPP Financing Pattern of Public Infrastructure Construction[J];The Journal of Gansu Administration Institute;2008-06
10 ;Study of Public and Private Partnership in Urban Regeneration[J];Urban Planning International;2008-06
【Secondary Citations】
Chinese Journal Full-text Database 4 Hits
1 LI Xiuhui, ZHANG Shiying;PUBLIC-PRIVATE PARTNERSHIP AND URBAN INFRASTRUCTURE CONSTRUCTION[J];City Planning Review;2002-07
2 Miao Qihu, He Xiaozhu,Fei Fangyu College of Management,Shanghai Jiaotong Univ.,200030,Shanghai,China;Externality and Profit Model of Urban Rail Transit[J];Urban Mass Transit;2004-05
3 Zhang Hanzhuo,Nie Min Dept. of Rail Transit & Railway construction,Tongji Univ.,200331,Shanghai,China;Financing for Urban Rail Transit Construction on PPP Model[J];Urban Mass Transit;2004-05
4 CHEN Liu-qin;PPP:New-Type Public-Private Partnerships Financing Pattern[J];Construction Economy;2005-03
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