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| Research on the Market Demand Risk and Sharing Mechanism of PPP Projects |
| WANG Jun-shan |
| (Hebei Construction & Investment Group Co. Ltd, Shijiazhuang, Hebei 050000, China) |
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Abstract Abstract：Research purposes： At present, the government vigorously promotes the PPP model in the field of public infrastructure, and market demand is one of the most important risk factors of PPP projects. Through sorting out the relevant literatures and domestic and international PPP project, this paper analyzes the causes, effects, theoretical basis and risk sharing preferences of demand risks, and also puts forward a risk sharing proposal. Research conclusions： (1) The impact of market demand risks arising from competition risks, socio-economic development, deficiencies forecast and changes in government decision-making, not only directly affect the actual income of the project, but also indirectly affect the investor's confidence in project and government. (2) The market demand risk sharing should adhere to most appropriate principle (by whom to share, when to share and how to share), the emphasis of demand risk sharing in preparation stage, construction stage, and operation stage is different. (3) According to the different situations of PPP projects, the market demand risk sharing proportion and realization path should be carried out in detail and scientific decision-making. (4) The research achievements have theoretical and practical significance for improving PPP projects risk management efficiency.
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Received: 14 August 2017
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2017, Vol. 34 
