我國ppp信托運作與發(fā)展研究——以中信唐山世園會ppp項目為例

1、 II Abstract Infrastructure construction has always been an important investment field of the trust funds. Originally, Trust channeling funds to infrastructure construction mainly through the traditional government trust

2、, in this mode, local government financing platform company has government protection, so the project risk of trust company is under control. In recent years, Infrastructure construction is from the government investment

3、 dominated platform era, gradually turn into Market-oriented era which represented by PPP pattern. For the trust companies, when traditional government trust is difficult to continue, using their own advantages, re-invol

4、vement in infrastructure via PPP mode is a challenge and an opportunity. According to the different contents, this paper reviews related literature which focus on Infrastructure trust financing, the positioning and devel

5、opment of the trust industry and PPP trust. Then introducing the concepts and theories related to PPP trust, and elaborating the overview of infrastructure trust financing. On this basis, introducing CITIC· Tangshan

6、 World Horticulture Exposition PPP Project, and then analyzing the case in detail through the reason of trust involved in PPP projects, the difference between PPP trust and government trust, the capital structure of proj

7、ect company, trust involved in PPP project exists advantages, problems and risks. Analysis show that trust companies have a strong desire to involved in PPP Projects. Compared with the government trust, PPP trust can red

8、uce the local government financial pressure, promote the transformation of local government, and improve the operational efficiency of the project, but it has higher requirements of the comprehensive strength of the trus

9、t company. In PPP projects, source of fund, risk return rate and policy environment are good for trust companies, but there are still some problems, such as high investment threshold, long investment term, shortage of ta

10、lent and imperfect legal framework. As a new field, trust companies face complex risks when they involved in PPP projects. On the basis of case analysis, the last part of the article presents some recommendations for tru