LPS市综合管廊项目PPP融资风险管理研究
发布时间：2018-07-16 19:41
【摘要】：随着我国经济的发展,居民收入水平的提高,城市居民逐渐追求更高的生活质量,对城市基础设施的要求越来越高。综合管廊这一设施不仅能够实现市政管线的高度集约化,利用地下空间、节约土地资源,同时能够改善城市环境,易于后期管线维护检测工作的开展,因此越来越受到政府部门的认同和青睐。2015年8月国务院办公厅下发文件,明确要求全国各主要城市开始部署推进城市综合管廊的建设工作,综合管廊在我国呈现快速发展的局面。由于建设综合管廊需要大量的资金,而地方政府的财政能力有限,无法弥补综合管廊项目建设的庞大资金缺口,政府大力推广PPP模式吸引社会资本来解决上述问题。这种模式不仅可以弥补基础设施建设的资金缺口,还能有效促进政府职能转变、提高基础设施服务的质量和效率。但PPP项目动辄数十亿的投资,涉及到政府、社会资本方、金融机构、社会公众等多个利益相关方,实务操作中将面临巨大的风险。一旦因融资问题致使项目资金链断裂,将对项目造成重大影响,甚至直接造成项目"破产"失败。而能否有效的对项目融资风险进行管理是项目成功融资的关键,因此探讨PPP项目融资风险管理问题成为研究运用PPP模式的重要课题之一。本文在其他学者文献研究总结的基础上,对LPS综合管廊PPP项目的融资风险管理过程进行了比较细致的研究,主要内容分为:一是绪论,主要介绍本文的研究背景、意义以及国内外研究情况。二是相关概念与理论基础,主要对项目融资的含义、类型以及PPP模式优势与运作方式进行了阐述,并介绍了项目的融资风险管理理论的内容。三是LPS市综合管廊项目PPP融资风险管理现状及成效,主要介绍该项目的基本概况以及运作模式,并从风险识别、风险评估、风险应对三个方面对其可能面对的风险进行管控,最后简述融资风险管理工作目前取得的成效。四是LPS市综合管廊项目融资风险管理的启示,主要是根据LPS市综合管廊项目融资风险管理过程,得出可以向其他PPP项目推广或借鉴的启示。五是结论与展望,主要是针对前文的研究过程以及结果作出总结,得出自己的研究结论,并指出自身论文可能存在的不足。在研究过程中,通过对该PPP项目的融资风险管理过程进行分析,对我国PPP模式在基础设施项目中运用具有重要意义。理论上,进一步丰富了PPP项目融资风险管理理论。实践上,通过对LPS市综合管廊PPP项目进行分析,为PPP模式下的综合管廊项目提供一个融资风险管理的有效框架。同时也可以为国内其他即将采购或执行的综合管廊PPP项目中的社会投资方关于如何对待项目存在的风险提供应对方法,从而有利于PPP模式在基础设施行业中的推广与应用。
[Abstract]:With the development of our economy and the improvement of income level, urban residents are gradually pursuing higher quality of life and higher demands on urban infrastructure. The comprehensive pipe gallery can not only realize the highly intensive municipal pipeline, use underground space, save land resources, but also improve the urban environment, and be easy to carry out the pipeline maintenance and inspection work in the later stage. As a result, it is increasingly recognized and favored by government departments. In August 2015, the General Office of the State Council issued a document explicitly demanding that major cities throughout the country begin to deploy and promote the construction of urban integrated management corridors. Comprehensive pipe gallery in our country presents the situation of rapid development. Because the construction of integrated management corridor needs a lot of funds, and the local government's financial capacity is limited, it can not make up for the huge fund gap of the construction of integrated pipe corridor project, so the government vigorously promotes the PPP model to attract social capital to solve the above problems. This model can not only make up for the financing gap of infrastructure construction, but also effectively promote the transformation of government functions and improve the quality and efficiency of infrastructure services. However, PPP projects are often invested in billions of dollars, involving the government, social capital, financial institutions, the public and other stakeholders, the practical operation will face huge risks. Once the financing problem leads to the breakage of the project capital chain, it will have a significant impact on the project, and even directly cause the failure of the project "bankruptcy". Whether the project financing risk can be effectively managed is the key to the successful project financing. Therefore, it is one of the important topics to study and apply the PPP model to discuss the PPP project financing risk management. Based on the research of other scholars, this paper makes a detailed study on the financing risk management process of LPS integrated plumbing PPP project. The main contents are as follows: first, introduction, mainly introduces the research background of this paper. Significance and research situation at home and abroad. The second is related concepts and theoretical basis, mainly on the meaning of project financing, types, PPP mode advantages and operational mode, and introduced the project financing risk management theory. The third is the current situation and effect of PPP financing risk management in LPS city. It mainly introduces the basic situation and operation mode of the project, and controls the risks it may face from three aspects: risk identification, risk assessment and risk response. At last, the paper briefly introduces the effect of financing risk management. The fourth is the inspiration of LPS-IPL project financing risk management, mainly according to the LPS-IPL project financing risk management process, can be extended to other PPP projects or draw lessons. The fifth is the conclusion and prospect, which is mainly based on the previous research process and results to make a summary, draw their own research conclusions, and point out the possible shortcomings of their own papers. In the course of the research, it is of great significance to apply the PPP model in infrastructure projects through the analysis of the financing risk management process of the PPP project. Theoretically, it further enriches the theory of PPP project financing risk management. In practice, through the analysis of the PPP project in LPS city, it provides an effective framework for the financing risk management of the integrated plumbing corridor project under the PPP model. At the same time, it can also provide a way for the social investors to deal with the risks of the PPP project which is about to be purchased or executed in China, which is beneficial to the promotion and application of the PPP model in the infrastructure industry.
【学位授予单位】：安徽大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F283
[Abstract]:With the development of our economy and the improvement of income level, urban residents are gradually pursuing higher quality of life and higher demands on urban infrastructure. The comprehensive pipe gallery can not only realize the highly intensive municipal pipeline, use underground space, save land resources, but also improve the urban environment, and be easy to carry out the pipeline maintenance and inspection work in the later stage. As a result, it is increasingly recognized and favored by government departments. In August 2015, the General Office of the State Council issued a document explicitly demanding that major cities throughout the country begin to deploy and promote the construction of urban integrated management corridors. Comprehensive pipe gallery in our country presents the situation of rapid development. Because the construction of integrated management corridor needs a lot of funds, and the local government's financial capacity is limited, it can not make up for the huge fund gap of the construction of integrated pipe corridor project, so the government vigorously promotes the PPP model to attract social capital to solve the above problems. This model can not only make up for the financing gap of infrastructure construction, but also effectively promote the transformation of government functions and improve the quality and efficiency of infrastructure services. However, PPP projects are often invested in billions of dollars, involving the government, social capital, financial institutions, the public and other stakeholders, the practical operation will face huge risks. Once the financing problem leads to the breakage of the project capital chain, it will have a significant impact on the project, and even directly cause the failure of the project "bankruptcy". Whether the project financing risk can be effectively managed is the key to the successful project financing. Therefore, it is one of the important topics to study and apply the PPP model to discuss the PPP project financing risk management. Based on the research of other scholars, this paper makes a detailed study on the financing risk management process of LPS integrated plumbing PPP project. The main contents are as follows: first, introduction, mainly introduces the research background of this paper. Significance and research situation at home and abroad. The second is related concepts and theoretical basis, mainly on the meaning of project financing, types, PPP mode advantages and operational mode, and introduced the project financing risk management theory. The third is the current situation and effect of PPP financing risk management in LPS city. It mainly introduces the basic situation and operation mode of the project, and controls the risks it may face from three aspects: risk identification, risk assessment and risk response. At last, the paper briefly introduces the effect of financing risk management. The fourth is the inspiration of LPS-IPL project financing risk management, mainly according to the LPS-IPL project financing risk management process, can be extended to other PPP projects or draw lessons. The fifth is the conclusion and prospect, which is mainly based on the previous research process and results to make a summary, draw their own research conclusions, and point out the possible shortcomings of their own papers. In the course of the research, it is of great significance to apply the PPP model in infrastructure projects through the analysis of the financing risk management process of the PPP project. Theoretically, it further enriches the theory of PPP project financing risk management. In practice, through the analysis of the PPP project in LPS city, it provides an effective framework for the financing risk management of the integrated plumbing corridor project under the PPP model. At the same time, it can also provide a way for the social investors to deal with the risks of the PPP project which is about to be purchased or executed in China, which is beneficial to the promotion and application of the PPP model in the infrastructure industry.
【学位授予单位】：安徽大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F283
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