渤海海峡跨海通道建设的PPP融资模式探索研究

Exploration of PPP financing model for the cross-sea channel of the Bohai Strait

兴建渤海海峡跨海通道是一项利国利民的重大工程项目。实现投资渠道多元化,特别是吸引国内外民营资本是解决渤海海峡跨海通道建设资金的重要途径。Public-private-partnership(PPP)融资模式克服了build-operate-transfer(BOT)模式中两个最关键的缺点,即项目前期工作的周期过长以及投资方和贷款人风险过大。PPP融资模式比BOT模式更优越,效率更高,风险分配更合理,项目融资的成功可能性也更大,而且在PPP模式下,政府部门拥有一定决策权和控制权。渤海海峡跨海通道可以借鉴PPP融资模式。

The construction of the cross-sea channel of the Bohai Strait is a great project which is benefiti-cial to our country and people. Diversification of investment channels,especially to attract domestic and foreign private capital,is an important way to raise funds for the cross-sea channel of the Bohai Strait. The two most crit-ical shortcomings of build-operate-transfer（BOT）modle are overcomed by means of public-private-partnership （PPP）model. They are too long preparatory work for the project and great risks of investors and lenders. PPP model is superior to the BOT model,more efficient than BOT,and is more rational for allocation of risks. Fi-nancing success of PPP model for the project is greater. Moreover,government can grasp decision-making power and control power of the project in the PPP model. PPP model can be learned in the cross-sea channel of the Bohai Strait.