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中文摘要
随着我国经济社会高速发展，铁路作为基础设施的作用越来越重要。而运力供不
应求的矛盾也与日俱增，从统计来看，近 30 年我国铁路营运里程的平均年增长率为
1.8%，与近几年保持较高速度的 GDP 增长差距较大。因此，近年来，我国大力研发和
实施高速铁路建设，无论是技术方面还是营运里程都有了飞速的发展，不断自我创新，
走出国门走向世界。截止 2014 年底，我国铁路营运里程已突破 11 万公里。但由于我
国储蓄率较高，发展高速铁路建设的资金大多以国家财政投入和债务资金为主，铁路
建设成本昂贵，回收周期长，导致资金缺口巨大，阻碍了我国铁路运输及经济发展。

近年来，PPP 模式已经开始在多领域应用，若能够有效利用民间资本，投资我国高铁
建设，能够有效解决目前的矛盾。

本文首先以当前国内高铁建设投资规划提速，未来高铁走出去的投资需求为背
景，对目前我国 PPP 模式的形态总结，进而借鉴国外先进发展模式，构建我国在高铁
建设领域对 PPP 模式融资优化的实施机制，最后提出推广 PPP 模式发展高铁建设的对
策建议。本文在研究过程中主要采用文献研究法、案例分析法、比较研究法和经验总
结法开展研究。其中文献研究法主要运用在概念定义和方法借鉴中，案例分析法运用
于对国内目前 PPP 模式的分析，比较研究法和经验总结法主要运用在国外 PPP 模式的
阐述及启示。

关键词：公私合营（ppp） 高速铁路 民间资本 资本结构

Abstract
With the rapid growth of China’s economy, railway has played a more important role
in the construction of infrastructure. The contradiction between capacity and demand
mounted up steadily, the data suggested that China’s railway operation mileage has kept a
1.8% annual growth in the past 30 years, by sharp contrast with the overwhelming GDP
growth. China has taken great efforts to upgrade the technology of high-speed railways and
put it into practice, the work has progressed steadily and went global. China’s railway
operation mileage has exceeded 11000 kilometers by the end of 2014. But due to the high
saving rate, financial investments and debt funds are the key supports of the construction
of high-speed railways. High expense and long-term fiscal problems mattered obviously,
and eventually impedes the development of China’s economy and railways.
Public-Private-Partnership mode has been applied in multiple fields in the recent years, the
author agrees that the proper usage of private capitals in high-speed railway construction
will play an effective role in solving the contractions.
In the context of the accelerating of the high-speed railway construction, and the
going out strategy, the thesis firstly tries to summarize the pattern of China’s
Public-Private-Partnership mode, and then learns from the advanced foreign development
model, in order to optimize the practice of China’s Public-Private-Partnership mode in the
construction of high-speed railways, and finally comes up with suggestions. Literature
research method, case analysis method, comparative research method and experience
summary method are commonly adopted during the research. The research method is
mainly used in the definitions, concepts and references, case analysis method is mainly
used in analyzing the current domestic Public-Private-Partnership mode, comparative
research method and experience summary method is mainly used in expounding the
Public-Private-Partnership mode in foreign countries and come up with inspiration.
Keywords：Public-Private-Partnership mode, High-speed Railway, Private Capital,
Financial Structure