民间资本参与基础设施投资的制约因素分析

Identifying and Analyzing the Constraints of Infrastructure Investment for Private Enterprises

为化解民间资本进入基础设施投资领域的障碍,促进民间资本更多地参与到基础设施的建设与运营中,通过文献阅读梳理出了6类共25个潜在制约因素,采用基于李克特量表的问卷调研对因素的重要性进行排序,识别出民间资本“融资难、融资贵”、企业合法权益不能得到充分保障和投资者对宏观经济缺乏信心是当前最主要的制约因素。考虑受访者的立场与视角,政府更加重视项目自身素质和企业治理水平层面的限制,而企业和第三方机构则认为制约因素更多体现在权益保障和公平竞争层面。不同地区的主要制约因素也存在差异,东部地区受访者更强调权益保障和公平竞争,中西部地区受访者更关注融资问題。

To improve the investment environment for private enterprises in the infrastructure sector,25 constraints in 6 categories that restricted private enterprises from participating in infrastructure investment,construction and operation,were identified through literature review.The most critical constraints identified via the questionnaire survey were financing difficulty and cost,the protection of investors’rights and interests,and dour macroeconomic environment.The perspectives of different survey respondents also influenced their opinions.The government and state-owned enterprises(SOEs)focused on project quality and corporate governance capability,while private enterprises and third-party organizations concentrated on the protection of rights and interests and fair competition with SOEs.