体育场馆BOT融资中政府面临的风险及其防范

On the Risk Faced by Governments in Building Stadiums through BOT and Measures of Prevention

BOT是一种利用民间资本进行公共基础设施建设、营运的融资方式。大型体育赛事场馆项目采用BOT融资方式可以减轻政府的投资风险和财政压力,并有利于赛后场馆的开发利用。但BOT融资方式本身也存在一定的风险。本文时政府在大型体育场馆项目BOT融资中面临的风险,如投标人联合低价竞标的风险、逆向选择风险、完工质量风险、收益损失风险、资产流失风险、政策和法律缺位风险等进行分析,提出了防范风险的措施,为政府更好进行大型体育赛事场馆项目BOT融资提供参考。

BOT is a means of financing to make use of international and private capital for the construction and operation of public utility. By this way, the investment risk and financial burden for the government can be decreased and it is beneficial for the subsequent exploitation of stadiums after games. Meanwhile,there are certain risks in BOT itself. The authors of this paper try to analyze the various potential risks faced by the government in BOT,such as the risk of united bargain by tenders,anti-choice risk,the quality risk after project,the risk of profit and loss,the risk of asset loss,the risk due to lack of relevant policies and regulations,etc. ,and put forward some measures of prevention to provide references for the government to finance large-scale construction of stadiums.