PPP项目融资模式在我国城市水业的应用研究
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摘要
伴随着我国国民经济的迅猛的发展、城市化进程的加快，城市基础设施的开发建设也取得了很大的成绩，但仍然不能满足国家发展和人民日益增长的实际需求，成为制约经济快速发展的“瓶颈”。城市水业是关系国计民生的城市基础设施之一，是市政公用行业改革的重点，正经历产业化、市场化的转变。目前建设和维护资金缺口巨大、投资不足，制约了城市水业的发展。
本文根据我国城市水业的发展现状，提出项目融资方式是推进城市水业建设及运营的趋势。介绍了项目融资的概念和基础设施领域BOT(Build-Operate-Transfer)、PPP(public-private-partnership)ABS(Asset Backed Securitization)项目融资理论。通过翔实的具有代表性的案例分析，研究了国内城市水业改革BOT模式的应用，针对其在应用中存在的诸多问题，指出其不适应我国水业的长期发展。之后论文分析了现阶段基础设施建设领域比较流行的公私部门伙伴关系(PPP)理论，以此理论为指导，结合我国城市水业的实际情况，探讨了政府部门与私营部门如何合作推进城市水业的发展。分析了我国城市水业应用PPP模式的必要性和可行性；同时介绍了PPP模式在我国基础设施建设中运作的主要方式、运作流程，在此基础上提出城市水业的PPP合作方式并提出几点实施建议。最后，对论文的全文做了总结。
Along with the dramatic development of national economy and prompt advance of urbanization, the development and construction of urban infrastructure have made great achievements, while it still could not meet the requirements of the state and people and has become the "bottleneck"of economy development. Urban water industry has become one of the urban infrastructures related with the national economy and the people's livelihood and is the focus of reform of public utility. It underwent the transformation of industrialization and market. Currently, it faces the problem of great lack of funds in construction and maintenance. Insufficient investment constrains the development of urban water industry.
Based on the current status of urban water industry in China, bringing forward that project financing is the trend to prompt development and operation of urban water industry. Introducing the concept of project financing and project financing theories of BOT,PPP and ABS .this paper discusses the application of BOT model for the reform of urban water industry. The paper also points out several problems in this model and states it is not suitable for the long-term development of water industry in China. After that, the paper analyzes the popular theory of PPP used in. current stage of infrastructure construction. Based on this theory and actual condition of water industry, the paper probes into promoting the development of urban water industry cooperated by government departments and private departments. It also analyzes that the basics for applying the PPP has matured and introduces the major modes and operation procedure of PPP in infrastructure construction in China. Based on that, PPP cooperation model for urban water industry and some implementing advice is put forward. The paper ends with summary and prospect.
本文根据我国城市水业的发展现状，提出项目融资方式是推进城市水业建设及运营的趋势。介绍了项目融资的概念和基础设施领域BOT(Build-Operate-Transfer)、PPP(public-private-partnership)ABS(Asset Backed Securitization)项目融资理论。通过翔实的具有代表性的案例分析，研究了国内城市水业改革BOT模式的应用，针对其在应用中存在的诸多问题，指出其不适应我国水业的长期发展。之后论文分析了现阶段基础设施建设领域比较流行的公私部门伙伴关系(PPP)理论，以此理论为指导，结合我国城市水业的实际情况，探讨了政府部门与私营部门如何合作推进城市水业的发展。分析了我国城市水业应用PPP模式的必要性和可行性；同时介绍了PPP模式在我国基础设施建设中运作的主要方式、运作流程，在此基础上提出城市水业的PPP合作方式并提出几点实施建议。最后，对论文的全文做了总结。
Along with the dramatic development of national economy and prompt advance of urbanization, the development and construction of urban infrastructure have made great achievements, while it still could not meet the requirements of the state and people and has become the "bottleneck"of economy development. Urban water industry has become one of the urban infrastructures related with the national economy and the people's livelihood and is the focus of reform of public utility. It underwent the transformation of industrialization and market. Currently, it faces the problem of great lack of funds in construction and maintenance. Insufficient investment constrains the development of urban water industry.
Based on the current status of urban water industry in China, bringing forward that project financing is the trend to prompt development and operation of urban water industry. Introducing the concept of project financing and project financing theories of BOT,PPP and ABS .this paper discusses the application of BOT model for the reform of urban water industry. The paper also points out several problems in this model and states it is not suitable for the long-term development of water industry in China. After that, the paper analyzes the popular theory of PPP used in. current stage of infrastructure construction. Based on this theory and actual condition of water industry, the paper probes into promoting the development of urban water industry cooperated by government departments and private departments. It also analyzes that the basics for applying the PPP has matured and introduces the major modes and operation procedure of PPP in infrastructure construction in China. Based on that, PPP cooperation model for urban water industry and some implementing advice is put forward. The paper ends with summary and prospect.
引文
[1] 大岳咨询有限公司著，公用事业特许经营与产业化运作，机械工业出版社。2004，P79
[2] 傅涛，陈吉宁等著，城市水业改革的十二个问题，中国建筑工业出版社。2006，P4
[3] 张极井著，项目融资，中信出版社。1998，P1-4
[4] 蒋先玲，项目融资，中国金融出版社。2001
[5] 联合国工业发展组织，水利部国际司翻译组，基础设施建设BOT项目指南。1996
[6] 刘省平著，BOT项目融资理论与实务，西安交通大学出版社。2002
[7] 戴公兴著，BOT项目运作手册，统计出版社。1997
[8] 李金早著，BOT投资方式，中国经济出版社。1995
[9] 尹竹著，基础设施产业的市场化改革，经济科学出版社。2004
[10] 王金南等著，环境投融资战略，中国环境科学出版社。2003
[11] 史惠祥等著，小城镇污水处理工程BOT，化学工业出版社。2003
[12] 中仪国际招标公司主编，市政公用事业改革相关文件汇编。2005
[13] 王灏，PPP公私合伙制的定义和分类探讨，《都市快轨交通》，2004．10
[14] 王灏，加快PPP模式的研究与应用，推动轨道交通市场化进程，《宏观经济研究》2004．(1)
[15] 王灏，轨道交通PPP模式的理论与实践，中国水网，2004．10
[16] 李秀辉，张世英，PPP一种新型的项目融资方式，《中国软科学》，2002．(2)
[17]杨学英，基础设施特许经营项目的经营模式、风险及财务评价，武汉大学博士学位论文，2005．4
[18] 杨青，BOT项目融资在我国城市水务的应用研究，对外经济贸易大学硕士学位论文，2005．3
[19] 王晨光，几种新型项目融资方式的风险分析，北京科技大学硕士学位论文，2004．2
[20] 伍戈，ABS融资方式在大型项目中运用的研究，同济大学硕士学位论文，1999．12
[21] 刘绍泉，BOT模式在我国应用实践与对策研究，四川大学硕士学位论文，2004．2
[22] 张春静，中国基础设施领域公私伙伴关系的实施与发展(PPP模式)对外经济贸易大学硕士学位论文，2005．4
[23] 沙骥，PPP模式在我国基础设施建设中的应用研究，东南大学硕士学位论文，2004．3
[24] 清华大学环境科学与工程系、中国水网主办，2006城市水业战略论坛会议，北京新大都饭店，2006．3
[25] 中国水网www.h2o-china.com
[26] Ye, S.; Tiong, R. K. L, Government support and risk-return trade-off in China's BOT power projects Engineering Construction& Architectural Management, Blackwell Publishing Limited, Dec2000, Vo 17 Issue 4
[27] United Nations Institute for Training and Research. PPP-For Sustainable Development. 2000
[28] David Hall, Robin delaMotte, Steve Davis. Terminology of Public-Private Partnerships. Public Services International Research Unit (PSIRU) paper, 2003
[29] For the Good of the People: Using Public-Private Partnerships To Meet America's Essential Needs, A White Paper on Partnerships Prepared by The National Council for Public-Private Partnerships, 2002
[2] 傅涛，陈吉宁等著，城市水业改革的十二个问题，中国建筑工业出版社。2006，P4
[3] 张极井著，项目融资，中信出版社。1998，P1-4
[4] 蒋先玲，项目融资，中国金融出版社。2001
[5] 联合国工业发展组织，水利部国际司翻译组，基础设施建设BOT项目指南。1996
[6] 刘省平著，BOT项目融资理论与实务，西安交通大学出版社。2002
[7] 戴公兴著，BOT项目运作手册，统计出版社。1997
[8] 李金早著，BOT投资方式，中国经济出版社。1995
[9] 尹竹著，基础设施产业的市场化改革，经济科学出版社。2004
[10] 王金南等著，环境投融资战略，中国环境科学出版社。2003
[11] 史惠祥等著，小城镇污水处理工程BOT，化学工业出版社。2003
[12] 中仪国际招标公司主编，市政公用事业改革相关文件汇编。2005
[13] 王灏，PPP公私合伙制的定义和分类探讨，《都市快轨交通》，2004．10
[14] 王灏，加快PPP模式的研究与应用，推动轨道交通市场化进程，《宏观经济研究》2004．(1)
[15] 王灏，轨道交通PPP模式的理论与实践，中国水网，2004．10
[16] 李秀辉，张世英，PPP一种新型的项目融资方式，《中国软科学》，2002．(2)
[17]杨学英，基础设施特许经营项目的经营模式、风险及财务评价，武汉大学博士学位论文，2005．4
[18] 杨青，BOT项目融资在我国城市水务的应用研究，对外经济贸易大学硕士学位论文，2005．3
[19] 王晨光，几种新型项目融资方式的风险分析，北京科技大学硕士学位论文，2004．2
[20] 伍戈，ABS融资方式在大型项目中运用的研究，同济大学硕士学位论文，1999．12
[21] 刘绍泉，BOT模式在我国应用实践与对策研究，四川大学硕士学位论文，2004．2
[22] 张春静，中国基础设施领域公私伙伴关系的实施与发展(PPP模式)对外经济贸易大学硕士学位论文，2005．4
[23] 沙骥，PPP模式在我国基础设施建设中的应用研究，东南大学硕士学位论文，2004．3
[24] 清华大学环境科学与工程系、中国水网主办，2006城市水业战略论坛会议，北京新大都饭店，2006．3
[25] 中国水网www.h2o-china.com
[26] Ye, S.; Tiong, R. K. L, Government support and risk-return trade-off in China's BOT power projects Engineering Construction& Architectural Management, Blackwell Publishing Limited, Dec2000, Vo 17 Issue 4
[27] United Nations Institute for Training and Research. PPP-For Sustainable Development. 2000
[28] David Hall, Robin delaMotte, Steve Davis. Terminology of Public-Private Partnerships. Public Services International Research Unit (PSIRU) paper, 2003
[29] For the Good of the People: Using Public-Private Partnerships To Meet America's Essential Needs, A White Paper on Partnerships Prepared by The National Council for Public-Private Partnerships, 2002