Analysis on the Obstacles of Private Capital Participating in the Construction of Municipal PPP in China: A Case Study of PPP Project of Underground Utility Tunnel in a New Airport Area of a City

摘要

This paper focuses on the PPP model with Chinese characteristics, and takes the PPP project of underground utility tunnel in a new airport area of a city as an example for analysis. Starting from the requirements of pre-qualification standard, it explores the obstacles of private capital participating in municipal PPP projects, comprehensively analyzes private capital's contradiction relationship between subjectivity and objectivity, and between inside and outside in the bidding process of the PPP project, and finds three problems including unclear policies and regulations, relatively large risk challenges and limited financing and operation capacity. It studies the countermeasures and methods for the optimization and improvement of PPP mode in China, proposes three suggestions of standardizing policies and regulations, perfecting operation mechanism and broadening financing channels, and heightens the passions of private capital to participate in PPP projects, so as to make Chinese private capital more competitive in bidding for PPP projects in the future.