新机制政策背景下我国PPP模式应用的回顾与展望

A Review and Outlook on the Application of PPP Mode in China Under the Background of New PPP Mechanism

在我国推动经济高质量发展的体制机制健全进程中,PPP模式作为国家固定资产投资和融资的重要手段,迎来了全新的政策阶段。本文系统回顾了我国PPP模式应用的主要成就和经验,并对新机制政策背景下PPP模式应用面临的核心挑战和实施要点进行了理论探讨和前景展望。研究发现:(1)中国PPP模式应用虽起步不晚,但经历了行业部门主导、财政部门主推、发改部门主责三个特征分明的政策阶段,相应积累了适应于不同历史时期基建投资建设需要的制度经验和项目知识,形成了兼顾国际经验和国内实情的公共项目投融资体系;(2)面向健全宏观经济治理体系,中国推行以使用者付费、特许经营和吸引民营企业等为特征的PPP模式,具有防范政府债务风险、提升公共资产经营管理水平、迎接存量时代改造升级等预期政策效用,但同时也面临着底层资产质量参差不齐、政府投融资管理理念有待转型、相应能力尚不充足等核心挑战。本文对进一步健全国内PPP市场,推动“一带一路”沿线国家PPP项目投资,助力我国增加PPP国际市场份额等方面具有参考价值。

In the process of improving the institutions for promoting high⁃quality economic development in China,the Public⁃Private Partnership(PPP)mode has entered a new policy phase as an important tool of national fixed asset investment and financing.This artical systematically reviews the main achievements and experience of PPP mode application in China,and theoretically discusses the core challenges and opportunities faced by the PPP mode under the background of new PPP mecha⁃nism,as well as its prospects.The study finds that:(1)Although the application of the PPP mode in China started not long ago,it has gone through three distinct policy phases characterized by industry department dominance,financial department pro⁃motion,and development and reform department responsibility.Correspondingly,it has accumulated institutional experience and project knowledge adapted to the infrastructure investment needs of different historical periods,forming a public project in⁃vestment and financing system that takes into account both international experience and domestic realities.(2)Aimed at im⁃proving the macroeconomic governance system,China promotes the PPP mode characterized by user payment,franchising,and attracting private enterprises,which is expected to prevent government debt risks,enhance the management level of public as⁃set operations,and facilitate upgrades in the era of stock.However,it also faces core challenges such as uneven quality of un⁃derlying assets,the need for transformation in government investment and financing management concepts,and insufficient cor⁃responding capabilities.This artical provides reference value for further improving the domestic PPP market,promoting PPP project investment in countries of the“Belt and Road”initiative,and helping China increase its share in the international PPP market.