综合管廊PPP项目的收益模式及其收费模型研究

摘要

In a market-based financial system,public-private partnership (PPP)arrangements have be-come the optimal solution for the government to finance the construction of the utility tunnel under a limit-ed budget.While PPPs bring in active capital from the private sector to support public infrastructure pro-j ects,it is crucial for the government to clarify PPP's revenue model in order to better facilitate deals and cooperation between the beneficiaries,lenders and shareholders.This paper analyzes the feasibility of ap-plying the PPP arrangement to the construction of underground utility tunnel.The tunnel,serving as a quasi-public profitable good,construction costs can later be collected from users of the tunnel and subsidies from the government.This paper also studies the charging mechanism behind this proj ect and establishes an expected return model based on return-on-investment measures and a cash flow chart.Ultimately,it de-signs a charging system for the PPP arrangement based on the proj ect's expenditures on financing,con-struction,operations and maintenance.%采取PPP模式进行市场化融资是当前政府解决城市综合管廊建设资金问题的首选方式,相应的收益模式及其如何收费是能否吸引社会资本积极参与的关键问题.针对综合管廊的准经营性,首先探讨了PPP模式应用于综合管廊的可行性;其次研究了综合管廊PPP项目的收益模式,即使用者付费和可行性缺口补助相结合,并根据投资收益理论及现金流量图建立收益测算模型;最后研究了综合管廊的收费模式,分析使用者所承担的入廊费和日常维护费用的构成因素并提出测算思路,建立了相应的收费模型.