工程投融资建设模式回购风险与控制策略分析

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Abstract Research purposes:With investment and financing system reform of our engineering construction and the implementation of national macro-control policies，more and more projects，especially domestic infrastructure and public utilities projects have widely adopted project investment and financing construction mode，but because of the rapid development of China、urbanization process，government financing and repurchase capacity has certain limitations， resulting that in a period of time the project repurchase risk will continue to exist. From the perspective of the repurchase risk prevention，this paper proposes strategies and measures can be taken，provides a valid reference for the construction of the project investment and financing mode to reduce the risk of repo infrastructure.

Research conclusions:(1)The anticipated governmental financial fund in future is the source of BT Mode repurchase payment，due to the financial fund is different from other financing resources and its actual sum is uncertain，that the repurchase risk is the most important problem in front of investors. (2)The risks are mainly reflected in four aspects that the repurchase consciousness of the government party is still undeveloped，the government party may deliberately postpone the repurchase action，the repurchase guarantee can’t be honored and the repurchase price is subject to final audit. (3)It should enhance legal argumentation，endeavor to obtain repurchase guarantee from government party，include sophisticated business clauses in contract and seek remedial measures which are the significant legal control means to fight against governmental repurchase risks. (4 ) The research conclusions can be applied in the management fields and repurchase of project investment and financing construction mode.

Key words： project investment and financing construction mode repurchase risk control strategies

Received: 23 December 2013

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D922. 2

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Cite this article:

HAN Jing. Analysis of Repurchase Risk and Control Strategies of Project Investment and Financing Construction Mode[J]. 铁道工程学报, 2014, 31(5): 106-109.

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http://tdgcxb.crec.cn/EN/ OR http://tdgcxb.crec.cn/EN/Y2014/V31/I5/106

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