禅城区某交通BT项目融资及风险性研究
发布时间：2018-08-03 09:34
【摘要】：随着我国经济建设的高速发展及国家宏观调控政策的实施，，基础设施投资尤其是公路工程建设资金的银根压缩受到前所未有的冲击，如何筹集建设资金成了制约公路建设的关键。本论文研究的BT项目属于禅城区负责的升级项目之一，是禅城区首次采用BT模式进行交通基础设施建设的项目。 本文研究的BT项目，由两个不同的交通建设工程构成，BT融资的内容不仅包括建安费，而且包括征地拆迁费，对今后相似项目融资工作的开展具有一定的参考意义。本文通过对项目融资模式和项目建设管理模式进行介绍并进行比较分析分析得出BT模式适用于非盈利性基础设施建设。通过对项目基本情况介绍、项目招投标和竞争性谈判等融资过程分析、以及融资风险分析发现在地方政府信用度较高的前提下，在没有固定资产抵押的条件下，带有征地拆迁的项目使用BT模式进行融资也是可行的；同时BT项目的风险包括招标、融资、建设、回购、以及法律风险，这些风险的防范主要在项目前期进行，特别是在BT项目的招标过程中设置相关条件，选取优质的投资建设方。 本文同时提出在政策上和实施上尚需完善的内容，比如BT模式相关法律法规以及BT模式税收体制；并指出文章存在的不足之处，比如本文主要站在政府的立场进行阐述，对BT投资建设方的风险、盈利等未进行详细的分析。
[Abstract]:With the rapid development of China's economic construction and the implementation of the national macroeconomic regulation and control policy, the basic investment in infrastructure investment, especially the capital of highway engineering, has been impacted unprecedentedly. How to raise the construction funds has become the key to the highway construction. The BT item in this paper belongs to one of the upgrading projects in Chancheng district. It is the first time in Chancheng district to adopt BT mode for transportation infrastructure construction.
The BT project in this paper is made up of two different traffic construction projects. The content of BT financing is not only included in the construction of security, but also includes land expropriation and demolition fees. It has a certain reference significance for the development of similar project financing work in the future. This paper introduces and compares the project financing model and project construction management model and makes a comparative analysis. The analysis shows that BT model is suitable for non profit infrastructure construction. Through the introduction of the basic situation of the project, the analysis of the financing process of project bidding and competitive negotiation, and the analysis of financing risk, it is found that under the condition of high credit degree of local government, under the condition of no fixed assets mortgage, the project with land expropriation and demolition is used BT. The financing of the model is also feasible; at the same time, the risks of BT projects include bidding, financing, construction, repurchase, and legal risk. The prevention of these risks is mainly in the early stages of the project, especially in the process of bidding for BT projects, and the selection of high quality investment and construction parties.
At the same time, this paper puts forward the necessary content in policy and implementation, such as BT model related laws and regulations and BT model tax system, and points out the shortcomings of the article, such as this article mainly stands in the position of the government, and does not make a detailed analysis of the risks and profitability of the BT investment and construction parties.
【学位授予单位】：华南理工大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.4
本文编号：2161331
[Abstract]:With the rapid development of China's economic construction and the implementation of the national macroeconomic regulation and control policy, the basic investment in infrastructure investment, especially the capital of highway engineering, has been impacted unprecedentedly. How to raise the construction funds has become the key to the highway construction. The BT item in this paper belongs to one of the upgrading projects in Chancheng district. It is the first time in Chancheng district to adopt BT mode for transportation infrastructure construction.
The BT project in this paper is made up of two different traffic construction projects. The content of BT financing is not only included in the construction of security, but also includes land expropriation and demolition fees. It has a certain reference significance for the development of similar project financing work in the future. This paper introduces and compares the project financing model and project construction management model and makes a comparative analysis. The analysis shows that BT model is suitable for non profit infrastructure construction. Through the introduction of the basic situation of the project, the analysis of the financing process of project bidding and competitive negotiation, and the analysis of financing risk, it is found that under the condition of high credit degree of local government, under the condition of no fixed assets mortgage, the project with land expropriation and demolition is used BT. The financing of the model is also feasible; at the same time, the risks of BT projects include bidding, financing, construction, repurchase, and legal risk. The prevention of these risks is mainly in the early stages of the project, especially in the process of bidding for BT projects, and the selection of high quality investment and construction parties.
At the same time, this paper puts forward the necessary content in policy and implementation, such as BT model related laws and regulations and BT model tax system, and points out the shortcomings of the article, such as this article mainly stands in the position of the government, and does not make a detailed analysis of the risks and profitability of the BT investment and construction parties.
【学位授予单位】：华南理工大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.4
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