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Abstract
With the development of urbanization in China, the traditional PPP mode is no longer suitable for the urbanization in China. Therefore, the regional comprehensive development PPP mode is gradually concerned by government and enterprises. In view of the above development trend, this paper establishes a model of fiscal sustainability risk for large-scale regional comprehensive development PPP project to realize efficient allocation of resources, value maximization, fiscal sustainability risk evaluation, so as to achieve fiscal sustainability.
Highlights
The regional comprehensive development PPP mode has become a good way to solve those problems
With the increasing experience in developing large-scale regional comprehensive development PPP projects, the risks are gradually appeared, such as the uncertainty brought by long-term contracts under the PPP mode, the realization and improvement of performance, the matching of project investment budget and government financial budget
In this paper, we propose a fiscal sustainability risk evaluation model under PPP mode of large-scale regional comprehensive development, so as to help to better achieve comprehensive fiscal balance
Summary
Many problems of traditional single PPP mode have been found, such as obscuring equity and debt, governmental implicit debt risks without long term payment mechanism, shortage of user charges or new income, which make it less acceptable by both public sectors and enterprises. The regional comprehensive development PPP mode has become a good way to solve those problems. It is a new PPP mode to develop certain region, improve regional value and enhance self-development ability. The large-scale regional comprehensive development PPP mode has the characteristics of wide development area, large investment, many partners involved and long cooperation cycle, so the requirements for public sectors and enterprises are higher, and the fiscal sustainability risk is higher
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