浅析国际经济合作的新方式──BOT

On The New Alternative in International Economic Cooperation--BOT

分析了ＢＯＴ的概念、功能及优点，指出ＢＯＴ的实质是一种债务与股权相混合的产权，它是集融资、建设、经营和转让为一体的多功能投资方式。ＢＯＴ方式对东道国来说既可以减少基础设施建设对政府财政的压力，又可以规避投资风险。但是ＢＯＴ方式是一个相当复杂的系统工程，复杂的合同体系、政府承诺、投资收益、利益冲突等诸多问题是运用ＢＯＴ方式所必须解决的。

This paper reviews the concept, functions and advantages of BOT, which is the combination of debt and equity in fact. To the host country,BOT may reduce not only the pressure on the government’s budget, but also the risk of investment in infrastructure. As BOT is an extremely sophisticated systems engineering, such things as the complex various contracts, the government’s guarantee, the investment risk, the returns and the interests conflicts must be settled first and properly when a BOT project is being carried out. Some suggestions for the BOT’s application in China are presented at the end of the paper.