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重庆大学硕士学位论文重庆市基础设施建设投融资实践及创新研究姓名：龙树发申请学位级别：硕士专业：企业管理指导教师：赵骅20050401I“”“”20“”“”IIIABSTRACTInfrastructureisthepreferredcapitalthatonecountrymustputintotomakeitseconomyprogress,itisalsothebasisofsocialeconomicactivityandtheupriverindustryofnationaleconomy.TheinfrastructureconstructionofChongQingnotonlydecideitseconomicsocialdevelopmentbutalsosignificantlyinfluencetheprocessofthewholeWestexploitationstrategyandtheintegratedsocialbenefitofThreeGorgeproject.Atleastwithin20years,Chongqingmustpersisttoalarge-scaleinfrastructureconstruction.However,aextensiveconstructionisconstrainedbythesourceofconstructionfund,soinnovatingtheinvestmentandfinancingsystemofinfrastructureconstructionandsearchinganewfinancingapproachisthekeytotheproblem.Firstly,thispaperanalyzesinfrastructureconstructioninvestmentandfinancingsystemofChongqingandthecurrentconditionofitsfunctionmechanismfromtheacademicandpositiveperspectives.Besides,fourcharacteristicsaboutChongqinginfrastructureconstructionarediscussed.Secondly,thispaperdrawsanacademicconclusiononthesuccessfulinvestmentandfinancingcasescreatingfromthepracticeofimportantinfrastructureconstructionsuchastraffic,bridge,river,energyandenvironmentfatheringintherecentyearsinChongqing.Inthispaper,theauthordesignsatrade-offcostmodelofestablishinginfrastructureinvestmentgroupanddeeplyanalyzestheeconomictheoreticalsourcesthatChongqingestablisheseightlargeinfrastructureinvestmentgroups.Establishingapre-workinginfrastructuremarginutilitymodelonInvestmentCompanyandagamemodelthatthegovernmentandinfrastructureInvestmentCompanytreatgovernmentsupport,theauthoranatomizesthemanagementpuzzledomthatthegovernmentputontheinvestmentgroupsandputsforwardresolvents.Thirdly,thecurrentproblemsinfinancingsystemandtraditionalchannelsarefoundedinturns.Thethesisconcludesthattheinfrastructureconstructiongreatlydependsonthegovernmentandbanksandthereissomedifferencebetweenthesupplyandthedemand.Intheend,Basedontheseanalysis,theauthorputsforwardtheinnovationadviceoftheinvestmentandfinancingpoliciesandtheextensivenessadviceofinvestmentandfinancingchannels.Theabovepolicysuggestionsincludethatreducingqualificationrequirementforinvestmentbody,improvingtheoperationalefficiencythroughsimplifyingthegovernmentprocess,thebreakdownofmarketmonopolystructure,deepeningthepricingmechanism,improvingthebenefitofIVinvestmentprojects,supervisingthemostimportantprojects,perfectingthefinancepolicyandtheimplantationofcompetitiveagency.Thefinancingsuggestionsincludethatcontinuallyallocatingthefundsformthegovernmentandcommercialbank,utilizingthelandusufruct,positivelyabsorbingforeignfunds,excavatingtheidlenessfundsfromthesociety,directlyfinancingforinfrastructureconstruction,thedevelopmentofspecialfunds,exertingthefunctionsoftrustcompany,andsearchingthenewfinancinginstruments.Keywords:Chongqing,infrastructure,investmentandfinancing1111.1——“”20020.137100.2511001.921.55608.5201011581587.610()464500,5201020022010944BOTBTTOT..·?(1929)(1933),·“”“”:“”“”()()80199328(Caning)(Fay)104196019801340(1986)(1988)(ProjectFinancing)PPP(PrivatePublicPartnership)(Peterk.Nevitt,FrankFabozzi):PPPPPP1.2.2801981“”198390“”4:(1990)“”:(1995):“”BOTTOT1015“”1.2.320032003,,,,,,20041.362722.12.1.1“”2040()()1994“()()()”“”2.1.2.1994..1994.88“”2.12.1Fig.2.1Theclassificationofcommonalitygoods3012240100292.1.310“”1232112.22.2Fig2.2Theconversionbetweenthedifferentinfrastructures1“”23122.2“”()30——35·C·213“”2.12.1Table2.1ThecorrelationcoefficientbetweenthemaininfrastructuresandGDP0.90380.93250.79210.78260.84960.80370.47200.95210.85280.940331533.120036323.141915385011.47957580(19)168362412371344086(53516095267126590231343.4)339118.3559.39(4)35.29434.1(127.21306.89)134.3105.82181702500330022029624()12ISP,110ICP,12881800MHZ66313.13.12003Table3.1TheintroductionofChongqingtrafficinfrastructures(2003)31407580168362417736321301237163.23.2.12002184.7165401.1710(1100)3/520044512120054302.2200262.64.42.280.3655.7040.743.23.22002Table3.2Thedescriptionoftrafficinfrastructuresofsomecities(2002)77.97.95.4100.08.110.1100.08.55.6100.011.66.162.64.42.243.53.92.677.95.97.8III20043.2.21997200220.831.51998200312.012.9.2003..2003.9.253172003()5()(1817)(1121)(1093)(970)(833)()20(76.7)(41.4)(31.9)(28.6)(27.5%)(25.1)(23.9)(23.9)(23.2)9()53.3Table3.3TheoverviewofthetotalinvestmentfundsforinfrastructuresinChongqing(unit:tenthousandyuan)3.319981727037199919736532000223959520013088239200238239842003154173585068175885542381348979841998183.612003156052105820020003.283.683.43.4Table3.4ThedescriptionofthetotalinvestmentfundsforutilityinChongqing(unit:tenthousandyuan)2000200120022003475588696614269315605228751931786557428310582001998199920002001200220031727037197365322395953088239382398448979841819982477.3020033243.761998272102003314073.52003199840141107242(3.6)3.5Table3.5TheoverviewofthegoodsthroughputandhighwaycourseofdevelopmentmileageinChongqing1998199920002001200220032477.302599.802448.002839.873004.003243.762721028086303543065431060314073.6Tabl