面向项目价值的城市轨道交通PPP项目协同特殊目的公司(SPV)模式研究

Study of Collaborative SPV with Project Value Oriented PPP Mode for Urban Rail Transit Project

目前,城市轨道交通PPP(政府与社会资本合作)项目正在全国范围内迅速推广,然而现有PPP操作模式尚未得到政府方与社会资本方的一致认同,仍存在系列问题致使PPP效能得不到充分发挥。基于此,通过引入治理理论对城市轨道交通PPP项目的操作模式进行研究,构建了面向项目价值的城市轨道交通PPP项目协同SPV(特殊目的公司)模式,实现提升城市轨道交通PPP项目价值的目标。调研结果显示,该模式得到了市场的广泛认同,为进一步提升城市轨道交通PPP项目价值提供了理论支持。

At present, the urban rail transit PPP project is rapidly promoted to the whole country of China, but the exist- ing PPP mode has not yet been agreed both by the government side and social capital side. There are still a series of problems which hinder the full performance of PPP mode. Based on the above issues, this research adopts govemance theory to study the operation mode of urban rail transit PPP project and devel- ops the collaborative SPV with project value-oriented PPP mode for urban rail transit project, in order to achieve the goal of improving the value of urban rail transit PPP project. The research shows that the PPP mode is widely recognized by the market, which provides a theoretical support for further en- hancement of the value of urban rail transit PPP project.