土地开发融资权拍卖的政府融资模式探析

Research on the Government Financing Model of the Auction of Land Development Financing Rights

在目前地方政府债务压力巨大背景下,为解决建设资金需求,政府采取多种方式进行融资,土地开发融资权拍卖是将土地开发过程中的投资和收益的相关权利义务关系作为一个标的进行公开拍卖给企业的一种新型融资方式。与BT模式相比,这种模式有诸多优势,首先,它更能减少政府财政压力,规避违约需要抵押土地的风险;其次,能够避免舆论压力和规避政府决策风险;再者,拍卖程序更加简单;最后,能解决土地开发过程中政府对项目建设资金的需求问题。虽然由于它受土地这一核心因素影响并且处于初期探索发展阶段,有一些问题有待解决,但在政府实践中不断规范化这种模式,将会使其发挥更大的作用。

In order to meet the construction fund demand, the government adopted various financing ways under the background of current local government debt pressure. The auction of land development financing rights is a new type of financing method which uses the auction of the rights relative to investment and income to the enterprise as a subject in the process of land development. Compared with the BT model, this model has many advantages. Firstly, it can reduce the government＇ s financial pressure, and avoid the risk of default on the land mortgage. Secondly, it can avoid the pressure from public opinion and the risk during government s decision-making. Thirdly, its auction process is simpler. At last, it can solve the project construction funds problem of the government in the land development process. Although it is still in the early stages of exploration and development, there are also some problems to be solved, it will play a greater role in the practice through the standardizing of this model by the government.