深圳市轨道交通三期6号线项目投融资模式分析

发布时间：2018-04-11 04:15

本文选题：轨道交通 + 投融资模式　；参考：《西南交通大学》2013年硕士论文

【摘要】：目前,深圳市政府已正式启动深圳市城市轨道交通三期工程的建设工作。轨道交通三期工程建设将分三阶段开展,包括6、7、8、9、11号线,线路总长约170公里,建设总投资估算约1,256亿元。鉴于城市轨道交通项目关系到市民出行方方面面,需要在确保运营效率的同时,兼顾便利性和安全性；同时由于城市轨道交通前期建设资本性投资大、后期运营成本高,其公用事业的属性决定项目本身盈利水平低、回收期长,因此如何有效拓展未来城市轨道交通建设运营中的投融资模式、成为城市轨道交通未来可持续发展所面临的重要课题。深圳市作为投融资改革的先锋城市,在轨道交通二期已尝试了BT、BOT投融资模式,取得了一定成果。三期工程将在总结二期工程投融资模式的经验下,将继续尝试创新型投融资模式。本文通过研究目前深圳市轨道交通发展现状、未来规划,找出面临的问题和挑战。总结深圳市轨道交通一、二期工程既有投融资模式经验,结合三期工程投融资总体思路,以6号线项目总体情况和特点为基础,通过对6号线可行的投融资模式进行比较分析,提出了先进的、具有可行性的创新型投融资模式：PPP模式“轨道+物业”综合开发模式。即：深圳市轨道交通6号线以TOD开发理念为指导,采用“轨道+物业”的综合开发,结合PPP的投融资模式进行整体运作,充分将轨道交通的正外部效益内部化,实现6号线工程项目本身的财务平衡。同时,通过6号线工程的建设,提升沿线土地价值,用土地、物业开发的增值收益反哺轨道交通建设,实现相互促进,共同发展。并且转变轨道沿线区域功能,促进城市发展、新城建设、旧城改造以及产业结构的升级,加快城市化的进程与城市可持续发展。同时,针对6号线项目的这种创新型投融资模式提出了运作方案和运作保障机制以及对项目可能存在的风险成因进行了分析,并根据风险的类型,提出了风险规避的对策。
[Abstract]:At present, the Shenzhen Municipal Government has officially started the construction of the third phase of the urban rail transit project in Shenzhen.The construction of the third phase of rail transit project will be carried out in three stages, including line 6f7, 8, 9, 11, the total length of which is about 170km, and the total construction investment is estimated to be about 125.6 billion yuan.In view of the fact that urban rail transit projects are related to all aspects of public travel, it is necessary to take into account convenience and security while ensuring operational efficiency. At the same time, due to the large capital investment in the early construction of urban rail transit, the later operation costs are high.The property of public utilities determines the low profit level and long payback period of the project itself. Therefore, how to effectively expand the investment and financing mode in the construction and operation of urban rail transit in the future has become an important subject for the sustainable development of urban rail transit in the future.Shenzhen, as a pioneer city of investment and financing reform, has tried BTHBOT investment and financing mode in the second phase of rail transit, and has achieved certain results.The third phase project will continue to try innovative investment and financing mode after summing up the experience of the second phase project investment and financing mode.This paper studies the present situation and future planning of rail transit in Shenzhen, and finds out the problems and challenges.This paper summarizes the experience of the existing investment and financing modes in the first and second phase projects of Shenzhen rail transit, combining with the general thinking of the investment and financing of the third phase of the project, based on the overall situation and characteristics of the line 6 project, through the comparative analysis of the feasible investment and financing modes of line 6.Advanced and feasible innovative investment and financing mode: the "track property" comprehensive development model is proposed.That is, Shenzhen Rail Transit Line 6 is guided by the TOD development concept, adopts the comprehensive development of "track property", and combines the investment and financing mode of PPP to carry on the overall operation, fully internalizing the positive and external benefits of rail transit.Achieve the financial balance of line 6 project itself.At the same time, through the construction of Line 6 project, the value of land along the line can be promoted, the value of land and property development will be fed back to the construction of rail transit, and mutual promotion and common development will be realized.And change the regional function along the track, promote urban development, new city construction, old city transformation and upgrading of industrial structure, accelerate the process of urbanization and sustainable development of the city.At the same time, according to the innovative investment and financing mode of Line 6 project, this paper puts forward the operation scheme and operation guarantee mechanism, and analyzes the possible risk causes of the project, and puts forward the countermeasures of risk aversion according to the type of risk.
【学位授予单位】：西南交通大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F572;F283

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