PPP项目公司社会资本方股权转让法律问题研究

Research on Legal Issues of Social Capital Share Transfer of PPP Project Companies

PPP模式,即政府和社会资本合作,是公私合营的新型方式。能有效缓解政府承担的过重财政压力,促进社会企业的良好发展。目前理论研究重心在于项目激励措施、融资渠道及风险分担等机制,对PPP项目公司股权转让制度缺乏创新与深度探索,导致实践中社会资本方想通过股权转让退出项目公司难上加难。本文将以PPP项目公司社会资本方股权转让退出机制在实践中的限制为切入点,运用比较研究法、实践法等,在比较、总结国内外PPP项目公司社会资本方股权转让退出机制的基础上,通过探讨PPP项目公司股东协议性质作为理论分析,探悉股权转让在实践中存在的不足,并就相关问题提出建议,为政府及社会投资方在PPP项目公司股权转让退出机制限制调整提供决策参考。

The PPP model,that is,the cooperation between the government and social capital,is a new type of public-private partnership,which can effectively alleviate the excessive financial pressure on the government and promote the good development of social enterprises.At present,the focus of theoretical research is on mechanisms for project incentives,financing channels,and risk sharing.The lack of innovation and in-depth exploration of the equity transfer system of PPP project companies has made it difficult for social capital parties to withdraw from the project company through equity transfer.This article will take the practical restrictions of the equity capital transfer and exit mechanism of PPP project companies as the starting point,and use comparative research methods,practical methods and other research methods.On the basis of comparing and summarizing the exit mechanism of the equity transfer of the social capital parties of PPP project companies at home and abroad,by exploring the nature of the shareholder agreement of the PPP project company as a theoretical analysis,it explores the shortcomings of equity transfer in practice and proposes relevant issues for the government.And the social investors in the PPP project company's equity transfer exit mechanism restrictions and adjustments provide decision-making reference.