宁波轨道交通投融资思考与建议

Ningbo Rail Transit Investment and Financing Mode of Ningbo Rail Transit Project with Some Suggestions

轨道交通项目需要占用大量建设资金,给政府带来沉重的财政负担。宁波的轨道交通项目资金来源为传统的"政府+银行"模式。该模式无法改变宁波轨道交通投融资渠道狭窄的局面,政府依然承载投资、经营及还债的沉重压力。公私合作的PPP模式在轨道交通上已有良好的实践经验,该模式通过让社会资本承担轨道交通项目可营利部分的建设与运营,发挥了社会资本擅长经营、擅长承担风险的优势,让政府回到市场监督与社会服务的最初角色。

Rail transit projects take up large amount of construction funds, bring a heavy burden to the government. The financing source for Ningbo rail transit project is traditional pattern of ＂government ＋ bank＂.This pattern cannot change the situation of too narrow financing channel for rail transit project, and the government still has to bear heavy pressure form project investment, rail operation and debt paying. However,Public-private partnership（PPP） mode has already been applied to rail transit projects and has left over good experience. PPP mode lets social capitals undertake the task of construction and operation for profitable parts of public projects, which takes advantage of social capitals＇ more professional at company management and risk taking,so that the government can return to the initial role of market supervision and social service.