社会资本进入公租房建设的应用研究
发布时间：2018-08-07 21:07
【摘要】：“安得广厦千万间，大庇天下寒士俱欢颜”。近年来，伴随我国城镇化进程的加快，土地资源稀缺，房价的居高不下使城市中低收入家庭的住房问题变得日益突出。政府加大了保障性住房的建设，并针对城市中低收入人群、大学毕业生、新就业职工和外来务工人员的阶段性住房需求，推出了公共租赁住房（以下文中简称公租房），以解决他们的住房困难。公租房顺利有效的建设，对于完善住房保障体系，完成“十二五”时期的住房保障目标，实现“住有所居”，有着及其重要的意义。但随着公租房建设力度的加大，资金问题成为主要的制约瓶颈，，单靠政府财力无法满足建设资金需求。如何拓宽和创新融资渠道，将社会资本引入公租房建设成为当前一个亟待解决的重要问题。 本文首先在对我国公租房建设现状回顾总结的基础上，指出建设资金缺口大是现阶段阻碍公租房建设的主要原因；结合我国社会资本储量大且投资渠道匮乏的现状，并对社会资本概念进行梳理界定，提出了将社会资本引入公租房建设的思路。接着从外部条件资本充足、收益需求、政策支持等方面对社会资本进入公租房建设的可行性进行了分析；从实施路径的角度，对地方政府公租房投融资平台的构建、运作机制进行了分析，提出了在PPP、BOT、REITs和ABS等不同模式下的公租房建设融资方式，以及不同类型公租房的建设及运营方式。然后通过麻城和佛山两地A、B公租房项目案例，以BOT融资模式为例构建了成本-收益模型，计算投资回报率等相关数据，对不同融资模式下的投资回报率进行了对比，得出了影响社会资本进入公租房的主要影响因素是投资回报率。综上所述，得出本文结论：社会资本进入公租房建设能有效减轻政府财政负担，获得稳定收益，促进公租房建设；其中公租房投融资平台的构建是融资、建设和运营的核心，投资收益保障是关键。提出要通过加大政策支持和引导、完善制度法规和加大人才培养等手段，鼓励和促进社会资本进入公租房建设。
[Abstract]:"there are thousands of places in the world, and the world is full of cold scholars." In recent years, with the acceleration of urbanization in China, the scarcity of land resources and the high prices of housing prices have made the housing problem of urban low- and middle-income families increasingly prominent. The government has stepped up the construction of affordable housing and targeted at the periodic housing needs of the city's low- and middle-income population, college graduates, new employed workers and migrant workers. Public rental housing (hereinafter referred to as public rental housing) is introduced to solve their housing difficulties. The smooth and effective construction of public rental housing is of great significance to the improvement of housing security system, the completion of the housing security target in the 12th Five-Year Plan period and the realization of "living in a house". However, with the development of public rental housing construction, the capital problem has become the main bottleneck, and government financial resources alone can not meet the construction capital needs. How to broaden and innovate the financing channels and introduce social capital into the construction of public rental housing has become an important problem to be solved. On the basis of reviewing and summarizing the current situation of the construction of public rental housing in China, this paper points out that the main reason for hindering the construction of public rental housing is the large gap of construction funds, combining with the current situation of large social capital reserves and lack of investment channels in our country. The concept of social capital is defined, and the idea of introducing social capital into the construction of public rental housing is put forward. Then from the external conditions of capital adequacy, income demand, policy support and other aspects of social capital into the public rental housing construction feasibility analysis; from the implementation path, the construction of local government public rental housing investment and financing platform, Based on the analysis of the operation mechanism, this paper puts forward the financing methods of public rental housing under different modes, such as PPP-BOTREITs and ABS, as well as the construction and operation of different types of public rental housing. Then, through the case of AZB public rental housing project in Macheng and Foshan, taking the BOT financing model as an example, this paper constructs a cost-benefit model, calculates the return on investment and other relevant data, and compares the return on investment under different financing modes. It is concluded that the main influencing factor of social capital entering public housing is the return on investment. To sum up, the conclusion of this paper: social capital into the public rental housing construction can effectively reduce the financial burden of the government, obtain stable income, promote the construction of public rental housing, in which the construction of public rental housing investment and financing platform is the core of financing, construction and operation. Investment income guarantee is the key. It is proposed that social capital should be encouraged and promoted to enter the public rental housing construction by means of increasing policy support and guidance, perfecting the system and regulations and increasing the training of talents.
【学位授予单位】：太原科技大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F299.23
本文编号：2171344
[Abstract]:"there are thousands of places in the world, and the world is full of cold scholars." In recent years, with the acceleration of urbanization in China, the scarcity of land resources and the high prices of housing prices have made the housing problem of urban low- and middle-income families increasingly prominent. The government has stepped up the construction of affordable housing and targeted at the periodic housing needs of the city's low- and middle-income population, college graduates, new employed workers and migrant workers. Public rental housing (hereinafter referred to as public rental housing) is introduced to solve their housing difficulties. The smooth and effective construction of public rental housing is of great significance to the improvement of housing security system, the completion of the housing security target in the 12th Five-Year Plan period and the realization of "living in a house". However, with the development of public rental housing construction, the capital problem has become the main bottleneck, and government financial resources alone can not meet the construction capital needs. How to broaden and innovate the financing channels and introduce social capital into the construction of public rental housing has become an important problem to be solved. On the basis of reviewing and summarizing the current situation of the construction of public rental housing in China, this paper points out that the main reason for hindering the construction of public rental housing is the large gap of construction funds, combining with the current situation of large social capital reserves and lack of investment channels in our country. The concept of social capital is defined, and the idea of introducing social capital into the construction of public rental housing is put forward. Then from the external conditions of capital adequacy, income demand, policy support and other aspects of social capital into the public rental housing construction feasibility analysis; from the implementation path, the construction of local government public rental housing investment and financing platform, Based on the analysis of the operation mechanism, this paper puts forward the financing methods of public rental housing under different modes, such as PPP-BOTREITs and ABS, as well as the construction and operation of different types of public rental housing. Then, through the case of AZB public rental housing project in Macheng and Foshan, taking the BOT financing model as an example, this paper constructs a cost-benefit model, calculates the return on investment and other relevant data, and compares the return on investment under different financing modes. It is concluded that the main influencing factor of social capital entering public housing is the return on investment. To sum up, the conclusion of this paper: social capital into the public rental housing construction can effectively reduce the financial burden of the government, obtain stable income, promote the construction of public rental housing, in which the construction of public rental housing investment and financing platform is the core of financing, construction and operation. Investment income guarantee is the key. It is proposed that social capital should be encouraged and promoted to enter the public rental housing construction by means of increasing policy support and guidance, perfecting the system and regulations and increasing the training of talents.
【学位授予单位】：太原科技大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F299.23
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