宏观市场环境对BOT模式投资污水处理行业的影响研究

The Affection Research of Macro-market Environment on Investment in Sewage Treatment Industry by the Mode of BOT

污水处理BOT投资模式是一种国际流行的公共基础设施建设融资方式。鉴于国内污水处理市场化程度较低、污水处理率及处理效率不高等压力,政府正通过调整行业政策,不断鼓励社会资本以BOT模式进入污水处理行业。污水处理市场前景与商机方面,中国污水处理市场发展空间巨大。市场环境方面,宏观经济发展速度对污水处理行业发展的影响不大;中国各项产业政策均有利于污水处理市场化发展;而且行业综合风险较低。投资收益方面,市政公用设施的性质特点,决定了污水处理行业投资收益率不高但长期稳定。总结来看,宏观市场环境将越来越有利于以BOT模式投资污水处理市场,BOT模式投资是可行的。

BOT investment mode is a kind of financing way for construction of public facility. Right now Chinese government is adjusting the regulatory policy of wastewater treatment industry and consistendy encourages the private capital to invest in this industry because of low marketization degree, low waste water treatment rate and low efficiency of waste water treatment facilities. And there＇s a huge development space for the private capital. In respect to the market environment, the growth rate of macro economy can not have a big impact on the waste water treatment industry, the regulatory policies are in favor of it and the general risks is controllable. And the Internal Rate of Retum will not be too high but stable in a long run since it is a public infrastructure facility. In general Chinese government is now adopting and promoting the BOT investment mode through the enforcement of favorable industry policy and market regulation, which makes the BOT investment mode profitable and risk controllable.