PPP模式下城市轨道交通项目融资风险探析  

Analysis on Financing Risks of Urban Rail Transit Project under PPP Mode

作　　者：曹方林[1] 孙燕[2] CAO Fangin;SUN Yan(School of Accounting,Anhui Business College of Vocational Technology,Wuhu Anhui 241002,China;School of Economics and Management,Anhui Normal University,Wuhu Anhui 241002,China)

机构地区：[1]安徽商贸职业技术学院会计学院,安徽芜湖241002 [2]安徽师范大学经济管理学院,安徽芜湖241002

出　　处：《金融理论与教学》2023年第5期77-81,共5页Finance Theory and Teaching

基　　金：安徽省2021年高校优秀拔尖人才培育项目“‘双高’建设背景下虚拟仿真技术在财经类专业群实训教学中的应用研究”(gxyq2021086);安徽省职业与成人教育学会课题“疫情背景下高职院校虚拟仿真实训基地建设研究”(Azcj2022130);安徽商贸职业技术学院技能创新服务平台项目“大数据技术在地方政府全面预算绩效评价中的应用研究”(2021ZDG01);安徽商贸职业技术学院专业拔尖人才学术资助重点项目“‘双高’建设背景下虚拟仿真技术在财经类专业群实训教学中的应用研究”(Smbjrc202203)。

摘　　要：近年来,国家不断鼓励和引导社会各方资本进入相关重点领域,社会经济的发展和城市化进程进一步加快,公共产品的供给能力不断增强,资本结构不断完善。在此背景下,规模化的城市轨道交通项目也在不断推进,政府与社会资本多方合作PPP模式逐步完善。然而,大规模轨道交通项目建设面临着运营和管理效率相对较低的问题,这主要是在建设期间对项目管理及风险控制弱化所导致。PPP融资的风险是多方面的,包含周期性、相关性、阶段性、绩效弱化及约束性方面等,因此,识别、分析和管理轨道交通PPP融资项目的风险显得尤为重要。In recent years,the state has continuously encouraged and guided the entry of capital from all sectors of society into relevant key fields,which further accelerated the development of the social economy and urbanization process,continuously enhanced the supply capacity of public goods,and continuously improved the capital structure.In this context,large-scale urban rail transit projects are also constantly advancing,and the PPP model of multi-party cooperation between the government and social capital is gradually improved.However,with the construction of large-scale rail transit projects,many are facing the problem of relatively low operation and management efficiency,which is mainly caused by the weakening of project management and risk control during the construction period.The risks of PPP financing are multifaceted,including periodicity,correlation,stage,performance weakening and constraints.Therefore,it is particularly important to identify,analyze and manage the risks of rail transit PPP financing projects.

关 键 词：PPP 融资 绩效 轨道交通 应对策略 

分 类 号：F572.88[经济管理—产业经济]