我国城市轨道交通BT融资模式研究

A Study on BT Financing Mode for China's Urban Rail Transit Project

BT模式(Build-Transfer)是一种进行基础性设施项目建设的的新型融资模式,发起人一般为政府部门,所利用资金为非财政资金。该模式对于盈利能力较低的城市轨道交通项目有着较好的融资效果,它将在我国未来的城市轨道交通项目中有着广泛的应用前景。本文从分析目前常见BT模式的运作形式入手,对比了各运作方式的特点及适用范围,提出总承包型的BT模式是有较强生命力的运作模式。本文还针对城市轨道交通系统的BT模式的必要性及保障措施做了相关研究。

BT mode（Build-Transfer） is a kind of financing mode, refers to government departments use non-financial fund for basic facilities construction project. This mode has a good financing effect for urban rail transit projects which has low profitability. Based on the analysis of the common operation forms of BT mode, this paper compares the characteristics and applicable scope of the operating forms, pointed out that gen- eral contracting type of BT mode is better. This paper also re- search the necessity and safeguard measures of the BT model in urban rail transit system.