金融机构参与PPP项目融资的比较分析  

Comparative Analysis of Financial Institutions Participating in PPP Project Financing

作　　者：楼小飞 胡月晓[1] 陈彦利[1] 

机构地区：[1]上海证券有限责任公司,上海200002

出　　处：《南都学坛（南阳师范学院人文社会科学学报）》2018年第1期113-119,共7页Academic Forum of Nandu:Journal of the Humanities and Social Sciences of Nanyang Normal University

摘　　要：PPP项目通常实行分阶段的融资方式即两阶段融资模式。两阶段融资是指在项目的建设和经营阶段实行差异化的融资安排。第一阶段的融资不仅仅是建设融资,还包括项目投资主体和建设主体的自身融资;第二阶段为经营期融资,不同类型金融机构在PPP项目融资的不同环节优劣势不同,证券公司在PPP项目融资的经营期融资环节,具有较多的经营优势,而银行、保险等机构的优势则集中在开发期融资环节。不同经营优势,决定了不同金融机构参与PPP项目融资的不同模式。The PPP project usually finances in two stages. Two stage financing means that different financing are implemented in the stages of project construction and operation. The first stage of financing is not only the construction financing,but also includes the self financing of the main bodies of project investment and construction; the second stage is the financing in the operating period. Different types of financial institutions have different advantages and disadvantages in the different links of PPP project financing. In the financing link of operating period of PPP project financing,securities companies have more advantages,while banks,insurance companies and other institutions have advantages in the financing link of developing period. Different operating advantages decide different finance institutions' different modes of participating in PPP project financing.

关 键 词：PPP项目融资 金融机构 经营优势 

分 类 号：F830.3[经济管理—金融学]