PPP模式社会资本退出机制法律研究

发布时间：2019-01-10 19:11

【摘要】：PPP被认为是当下中国最热点的词汇之一,是制度供给的一次创新。在我国经济下行压力持续加大,经济发展步入新常态的特殊背景下,PPP模式将社会资本引入基础设施和公用事业建设领域,可以有效缓解政府承担的过重财政负担和财政压力,化解地方政府债务危机,提高我国公共产品和服务的质量和效率,并加快政府职能转变,推动国家治理能力和治理体系的现代化。PPP模式的社会资本退出机制相比准入机制,是本轮PPP热潮中很少被关注的一个问题。退出机制意味着社会资本在遭遇特殊情况时,可以有选择、有步骤的退出PPP项目,以维护自身合法权益,是社会资本方参与PPP项目面临的现实需求。退出机制的完善,也将进一步增加PPP项目资本流动性,增强PPP项目对社会资本方的吸引力,消除其后顾之忧,提高PPP项目的落地签约率。因此,笔者针对上述情况,将社会资本退出机制法律问题作为本文研究的主旨和重点。文章共分为三部分:第一部分主要对PPP模式社会资本退出机制理论进行总体阐释。分为PPP模式概述、PPP模式社会资本退出机制两部分。通过对PPP模式的含义、特征与功能定位的归纳,与传统建设模式进行比较分析,总结出PPP模式具有经济法的显著特性。重点论述了PPP模式社会资本退出机制的概念及退出的必然性,对PPP模式社会资本退出的作用、分类及方式等基础理论做出概括分析。将社会资本退出依据不同标准作出三种分类,并将退出方式归纳为股权转让、股权回购、资产证券化、公开上市、期满移交五种具体方式。第二部分对PPP模式下社会资本退出机制存在的法律障碍展开分析。目前,我国PPP模式立法层级较低、缺乏实施细则,法律效力较低;退出时转让主体资格也未明确,PPP产权交易市场不存在,PPP资产证券化存在困难,这些退出机制的不健全是目前诸多PPP项目无法落地的一个重要原因。文章第三部分针对退出机制存在的上述障碍,提出六项完善社会资本退出机制的路径选择与法律完善建议,其中完善PPP股权转让机制是本文的特色所在,希望本文能够促进我国PPP模式的健康发展,为PPP实践提供些许启发和借鉴。
[Abstract]:PPP is regarded as one of the hottest words in China and an innovation of institutional supply. Under the special background of increasing downward pressure and entering the new normal, the PPP model can effectively relieve the excessive financial burden and pressure on the government by introducing social capital into the field of infrastructure and public utilities construction. To resolve the debt crisis of local governments, to improve the quality and efficiency of public goods and services in China, to accelerate the transformation of government functions, to promote the modernization of national governance capacity and governance system, and to promote the entry mechanism of social capital withdrawal mechanism based on PPP model. This round of PPP boom is rarely concerned about a problem. Exit mechanism means that social capital can choose and step out of PPP projects in order to protect their legitimate rights and interests, which is the realistic demand for social capital to participate in PPP projects. The perfection of exit mechanism will further increase the capital mobility of PPP project, enhance the attraction of PPP project to social capital, eliminate its worries, and improve the landing signing rate of PPP project. Therefore, the author regards the legal issue of social capital withdrawal mechanism as the main purpose and focus of this paper. The article is divided into three parts: the first part mainly explains the theory of social capital withdrawal mechanism in PPP mode. It is divided into PPP model outline, PPP model social capital exit mechanism two parts. Through the comparison and analysis of the meaning, characteristics and function orientation of the PPP model and the traditional construction mode, it is concluded that the PPP model has the remarkable characteristics of economic law. This paper mainly discusses the concept and inevitability of the withdrawal mechanism of social capital in PPP mode, and makes a general analysis of the function, classification and mode of social capital withdrawal in PPP mode. According to different criteria, social capital withdrawal is classified into five specific ways: equity transfer, equity repurchase, asset securitization, public listing and expiration transfer. The second part analyzes the legal obstacles of social capital withdrawal mechanism under PPP mode. At present, the level of legislation of PPP mode is lower, the implementation rules are lacking, and the legal effect is low. At the time of withdrawal, the qualification of transfer subject is not clear, the market of PPP property right transaction does not exist, and the securitization of PPP assets is difficult. The unsoundness of these exit mechanisms is an important reason why many PPP projects cannot fall to the ground at present. In the third part of this paper, the author puts forward six suggestions to perfect the exit mechanism of social capital, including perfecting the mechanism of PPP equity transfer, and putting forward six suggestions to perfect the exit mechanism of social capital. I hope this paper can promote the healthy development of PPP model in China and provide some inspiration and reference for PPP practice.
【学位授予单位】：辽宁大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：D922.29

【参考文献】