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论文编号：	4826
作者编号：	2120102667
上传时间：	2012/12/12 9:01:31
中文题目：	节能减排型公用事业PPP融资模式应用研究
英文题目：	A Study of PPP Financing Model Application in
指导老师：	余娟
中文关键字：	公私合作（PPP） 融资模式 节能减排 公用事业项目
英文关键字：	Public-Private Partnership (PPP), Financing Model, Energy-saving and Emission-reduction, Utilities
中文摘要：	由于能源供应形势依然严峻，生产生活能耗偏高，生态环境恶化等原因，中国经济增长面临着越来越严重的能源和环境瓶颈，而节能减排则成为破解这种困境、促进可持续发展的必然选择。伴随着技术创新，城市产业园区(或功能区)层级将的节能减排项目公用事业化已经成为可能，以期通过适度的规模化更好的实现社会和经济效益。然而在经济刺激政策进入尾声，周边经济环境仍复杂多变的宏观背景下，此类新型公用事业项目，融资困难的问题已经逐渐显现，寻求新的投融资模式势在必行。公私合作（PPP）项目融资模式通过引入私营部门资本，发挥其运营管理和专业技术上优势，同时结合公共部门在行政管理、法规和信用等方面的作用，通过市场化机制和安排，实现优势互补和共同合作。然而PPP项目的风险也应引起重视，特别是存在公共部门更注重社会效益，而私营部门更注重经济效益的内生风险，这往往造成双方潜在的利益冲突，因此在定制融资方案时考虑相应的策略对PPP项目融资风险的控制尤为重要。与以往相关著述、研究多集中于常规公用事业基础设施不同，本文通过对相关资料进行整理、比较分析和实地调研，侧重研究PPP融资模式在节能减排型公用事业项目领域的应用。本文首先阐述了研究背景与意义，介绍了研究内容、研究方法和创新点。而后系统地回顾PPP融资模式的相关理论，进而从该类项目的融资特征和现状入手，进行客观的PPP融资模式应用于该类项目的合理性分析，借此总结归纳了该模式的优势，并有针对性的提出相应的策略。最后本文结合实际项目案例，进行了深入分析并结合其风险管理问题提出较具有现实意义的建议。
英文摘要：	China’s booming economic growth increasingly confronts the severe bottlenecks of energy and environment, thanks to the difficult energy supplying condition, high energy consumption, and deterioration of ecosystem. It is currently available that energy saving and emission reduction projects are developed towards utilities in the city industry park or functional zone magnitude, due to technological innovation, to achieve more of social and economic benefits by delivering large scale infrastructure projects. The financing problems, however, in these innovative utilities are gradually emerging, given that circumstances which are comprised the ending of economy stimulating policies, and the macro background of the complicated economy environment, it is therefore necessary to find new financing model. Public-Private Partnership is an innovative project-financing model which can take advantage of the skills and knowledge in terms of project operation and management by introducing capital from private sector, combining the administrative and regulatory functions from public sector as well. PPP is an effective approach to realize double-win cooperation from both sides through market mechanism. On the other side, the risks in PPP projects cannot be ignored, in particular, considering the possible discrepancies because of the public sector’s priority focused more on social benefits while private sector’s priority focused more on economic benefits, which might cause potential conflicts of interest. This article emphasized the application of PPP financing model in the Energy-saving and Emission-reduction utilities more than conventional types as being researched more previously, by collecting, comparing, analyzing relative information and field research as well. First, this paper elaborates the research background and significance, and introduces research content, approach and conclusions. Reviewing project financing theory next, in particular, PPP model, it analyzed the feasibility in PPP application based on the characteristics and status quo of Energy-saving and Emission-reduction Utilities, and then provided financing solutions to tackle capital and operation efficiency problem. Finally, it further researched the PPP financing model application taking example for the G project, and proposed some strategies and advices correspondingly.
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