政府主导的共建-共营-转让项目融资创新模式:总结与经验  

Government-led Co-Building-Co-Operating-Transfer Financing:Concept and Experience

作　　者：翁成峰 史册 潘恒 WENG Chengfeng;SHI Ce;PAN Heng(Fujian Broadcasting&TV Network Group;CITIC Securities Co.,Ltd.)

机构地区：[1]福建广电网络集团 [2]福建省委党校 [3]中信证券股份有限公司

出　　处：《金融市场研究》2023年第4期123-131,共9页Financial Market Research

摘　　要：随着近年来新应用场景的出现,传统政府主导的项目融资发展模式面临着一些问题。虽然以BOT(建设-经营-转让)和PPP(公共私营合作制)为代表的项目融资模式可以有效地解决一些项目的资金压力,但对一些需要政府深入参与项目经营的新兴场景并不完全适用。本文归纳和分析了新兴的共建共营体制以及与之相适应的CB-CO-T(共建-共营-转让机制)创新模式。此外,本文进一步结合中宣部倡导的“百城千屏”建设活动案例,对CB-CO-T融资承载的户外屏网络模式进行分析。本文基于CB-CO-T的分析为新场景的公共项目融资思路提供了借鉴,尤其是针对需要依赖政府职能且具有市场潜力的公共项目场景,具有重要的实践意义.With the emergence of new application scenarios in recent years,the traditional government-led project financing development model is facing a number of problems.Although project financing models represented by BOT(Build-Operate-Transfer)and PPP(Public-Private Partnership)can effectively resolve funding pressures on some projects,they are not fully applicable to some emerging situations.This article analyzes the emerging co-construction and co-operation system and the new"CB-CO-T"(Co-Building-Co-Operating-Transfer)model.In addition,it conducts an assessment of the outdoor screen network model supported by CB-CO-T financing in conjunction with the"Hundred Cities and Thousand Screens"construction initiative advocated by the Central Propaganda Department.The findings provide a valuable guidance for financing strategies in the context of new public projects,particularly those which rely on government assistance but have market potential.The practical significance of this analysis is of utmost importance to the successful implementation of public projects in these scenarios.

关 键 词：项目融资模式 共建共营融资机制 公共宣传建设 PPP BOT CB-CO-T 

分 类 号：F283[经济管理—国民经济]