PPP项目合理预期回报率确定方法探讨

Discussion on Determining Method of Reasonable Expected Return Rate in PPP Project

在分析PPP项目预期回报率设定时的影响因素的基础上,从资本金内部收益率与预期回报率的关系入手,针对PPP项目中公私双方三类主体,即:政府方或其委托的咨询机构、社会资本方中的主要投资人为运营类企业和施工企业,建立适用于这三类主体的合理预期回报率的计算模型并进行应用。最后,总结应用计算模型确定PPP项目合理预期回报率的注意事项,为PPP项目回报设计理论与实践提供参考。

Based on the analysis of the relationship between internal return rate of capital and expected return rate,aiming at the three main types of public and private parties in PPP project,namely,the government or its consulting body entrusted by the government,the main investors in social capital are the operational enterprises and construction enterprises,establishes the calculation model of reasonable expected rate of return applicable to these three types of subjects.Finally,summarizes the matters needing attention in determining reasonable expected rate of return of PPP project by using calculation model,provides reference for the theory and practice of PPP project return design.