【作者】 曾庆武；

【导师】 张仕廉；

【作者基本信息】 重庆大学 ， 建筑与土木工程， 2003， 硕士

【摘要】 城市基础设施建设是国民经济和社会发展的重要组成部分，是实现城市现代化的基本要素。城市基础设施作为社会经济增长的基础性物质条件，它应与经济产出保持同步增长。我国目前城市基础设施发展滞后、投资不足的问题日益突出，其原因是多方面的，本文认为投资渠道单一是最主要的问题。我国已对此做了大量的研究，主要成果有：投融资理论更加成熟、投融资渠道进一步拓宽，引入了BOT、TOT、ABS、PFI等多种融资方式。本文在这些研究成果的基础上，进一步研究一种新的基础设施投融资模式——BT模式，并结合重庆市菜园坝长江大桥的运用实例，得出结论：BT模式是有效的基础设施投融资模式。论文主要内容： 第一部分：我国城市基础设施建设比较落后，主要原因是资金不足、投融资渠道狭窄，难以满足城市基础设施发展的需要。因此，城市基础设施投融资模式的研究是非常必要的。本文研究目的是在我国城市基础设施领域引入BT模式，以拓宽资金筹集渠道。 第二部分：阐述了基础设施、城市基础设施的含义，介绍了城市基础设施的发展历史以及管理体制的发展变化。然后着重叙述了项目的投融资理论，包括项目投融资的概念、资本市场与城市基础设施、项目的融资结构、项目的投融资成本分析、投融资体制改革的发展阶段和特点、投融资模式的历史沿革、投融资管理体制的发展变化。最后，详细的讲述了项目投融资过程中存在的风险以及规避措施。本部份的介绍为BT模式的提出奠定了理论基础。 第三部分：这部分介绍了目前我国比较成熟的几种城市基础设施投融资模式，如：BOT、TOT、ABS、PFI。这些模式的研究成果和研究方法、应用成果都为本文BT模式的研究提供了理论和实践的借鉴。 第四部分：在前几部分的基础上，提出了本文的研究重点BT模式。BT即Build—Transfer(建设—移交)，是指政府通过特许协议，引入国外资金或民间资本进行专属于政府的基础设施建设，基础设施建设完工后，该项目设施的有关权利按协议由政府赎回，也就是“企业投资建设、政府一次回购、资金分期支付”的模式。BT项目的运作主要有六个阶段：项目的确定与拟订、招标、选标、开发、建设和移交。论文强调了政府在BT运作过程中的监管作用，然后就BT运用于城市基础设施项目存在的风险及对策作了深入的分析。该部分构建了BT模式的理论框架。 第五部分：将BT模式应用于实际——重庆市菜园坝长江大桥。本部份分别从项目简介、项目成本分析、项目经济效益、社会效益以及本项目运用BT模式的风险等几个方面非常详细的论述了该项目运用BT模式的可行性，说明了BT模式的重庆大学硕士学位论文中文摘要实践价值。 综上所述，本文从理论和实践的角度论证了在城市基础设施中推行BT模式的可行性和价值，并分析了目前BT模式存在的问题，提出了较为完善的改进措施，进一步强化了政府在BT模式中的作用，深化了BT的理论，展望了其应用前景。更多还原

【Abstract】 City’s infrastructure plays an important role in national economy and social development. It is a basic factor to realize the modernization of cities. City’s infrastructure, as basic material condition of economic increase, should be kept synchronously increasing with economy. At present, the problems which infrastructure of our country is underdeveloped and undercapitalized increasingly pop out. The causes are various. The writer of this paper thinks the uppermost problem is the single investing and financing channel. Plentiful studies have been done. Mostly fruits include that the theories of investing and financing are more mature and channel of investing and financing is wider.The modes of financing, such as BOT, TOT, ABS, PFI, are used in our country atpresent. The writer has found that the BT (Build and Transfer) mode is a new way of financing and drew a conclusion that BT is an effective financing mode of infrastructure by studying those fruits and Combining an example of Cai Yuan-Ba Yangtse new bridge in Chongqing.Firstly, infrastructure of our country is comparatively underdeveloped. The primary cause is that our country is undercapitalized and channel of financing is limited, which can’t keep up with the development of infrastructure. So, the research on financing mode is very necessary. And the aim of the paper is to introduce the BT mode, a new way of financing.Secondly, the writer explains the meanings of infrastructure and city’s infrastructure, and introduces the history of development and management system of city’s infrastructure. And then project finance theory is been emphasized to expound. It includes concept, frame and cost analysis of project financing, and capital market and seedtime and feature of financing system’s reformation, and historical evolution of financing mode, and the development of financing management system of our country. Lastly, risks and measures to elude risks in course of project financing are analyzed in detail. This part is the academic foundation of the BT mode.Thirdly, the writer introduces several mature modes of financing for infrastructure in our country, such as BOT, TOT, ABS, PFI. The conclusions and methods of theresearch on these modes and the result of their application can been all used for reference for the BT mode.Fourthly, through studying former parts, the writer brings forward the BT mode as emphases of this paper. The mode will be benefit in attracting foreign capital and private capital for infrastructure belonged to government. After completing the project, all rights related to the project are been redeemed by government according to the agreement. That is, the mode means that project is invested by enterprises, redeemed and installed by government. There are six operational stages of the BT mode, determining a project, inviting public bidding, selecting contractor, developing, constructing and transferring. Meanwhile, the supervising role of government in BT project is discussed. Then, the writer analyses the risks of the BT mode and measures to elude these risks when it is implemented in infrastructure project.Fifthly, the BT mode is used by the constructive of the Cai Yuan -Ba Yangtse new bridge in Chongqing. The feasibility of using the BT mode is proved from several aspects such as brief introduction, cost analysis, economic and social benefits of the project. In this part, the case shows the value of the BT mode.In a word, the writer has demonstrated the feasibility and value to use the BT mode in city’s infrastructure. The problems of the BT mode are analyzed and current measures to develop this mode are brought forward. Moreover, governmental function in the BT mode is consolidated. The theory and prospect of the BT mode are further discussed.更多还原