【作者】 栗玮；

【导师】 孙森；

【作者基本信息】 天津财经大学 ， 金融学， 2010， 硕士

【摘要】 随着近年来我国经济社会的飞速发展,非经营性市政基础设施项目对社会经济发展和人民生活水平提高体现出越来越显著的作用。目前,天津市正处在一个高速发展的时期,需要完善的非经营性市政基础设施与之相适应。非经营性市政基础设施项目投资规模一般都比较大,需要大量具有稳定来源的建设资金。而天津市现有的融资渠道已不能满足非经营性市政基础设施项目建设的资金需求。因此,如何创建新的融资模式为天津市非经营性市政基础设施项目建设提供稳定的资金来源成为迫切需要解决的问题。本文在对天津市非经营性市政基础设施项目的现有融资渠道进行深入剖析的基础上构建以项目公司为主体的两种创新融资模式一项目自平衡模式和政府采购模式来为天津市非经营性市政基础设施项目筹措建设资金,解决天津市非经营性市政基础设施项目面临的资金短缺的问题。项目自平衡模式以项目公司为主体,将项目区域内经营性土地的一级开发权及全部土地出让收益授予项目公司,用于为非经营性市政基础设施项目筹集建设资金,将非经营性项目转化为一个可经营、自平衡的整体。项目自平衡模式从根本上摆脱了传统财政融资模式的固有问题,充分发挥项目公司的能动性。政府采购模式通过项目公司与政府签订的关于非经营性市政基础设施项目的政府采购协议,并将采购资金纳入政府财政预算,为项目公司提供可预期的、稳定的资金来源。项目公司以此来为非经营性市政基础设施项目筹措建设资金。通过两种创新融资模式,可以突破天津市非经营性市政基础设施项目现行融资模式的弊端,为项目建设提供稳定的资金来源,对天津市非经营性市政基础设施项目的发展具有较强的实践意义。更多还原

【Abstract】 With the recent rapid development of our economy and society, non-operating municipal infrastructure projects are playing a very important role in the development of society and economy and improvement of people’s living standards. At present, Tianjin is in a period of rapid growth, with the need of sound non-operating municipal infrastructure. The investment scale of non-operating municipal infrastructure projects is large, requiring a large number of stable sources of funds for construction. The existing financing channels in Tianjin can not meet the funding requirements of non-operating municipal infrastructure projects. How to create new financing patterns to provide stable funding sources for the non-operating municipal infrastructure projects in Tianjin is an issue urgently needed to deal with.On the basis of in-depth analysis of existing financing channels, the paper builds two innovative financing patterns, self-balancing pattern and government procurement pattern to provide construction funds and solve the problem of shortage of funds for non-operating municipal infrastructure projects in Tianjin. The two patterns are organized by a project company.The self-balancing pattern is organized by the project company. The government gives the first level exploiting rights and the whole earnings of the operating land in the area of the project to the project company to raise construction funds for non-operating municipal infrastructure projects. This pattern converses the non-operating project to an operating and self-balanced entirety. The self-balancing pattern frees from the inherent problems of the traditional financing pattern and addresses the project company’s initiative.Under the government procurement pattern, the project company signs a government procurement agreement about non-operating municipal infrastructure project with the government. The government puts the procurement funds into budget, providing predictable and stable source of funding for the project company. Then the project company raises funds for. non-operating municipal infrastructure project.The two innovative financing patterns break down the drawbacks of the current financing patterns and provide a stable source of funding for non-operating municipal infrastructure projects in Tianjin with strong practical significance.更多还原