随着我国经济的快速发展，为满足日益增长的物质需求,党的十八大提出新型城镇化建设， 我国的基础设施建设有了新目标。政府作为公共基础设施建设的主导者，由于财政资金和债务 规模的限制难以满足高额的基础设施资金需求。2013年PPP模式开始在我国受到关注。2014 年国务院发表《关于创新重点领域投融资机制鼓励社会投资的指导意见》，明确提出“在公共 服务、资源环境、生态环保、基础设施等领域，积极推广PPP模式，规范选择项目合作伙伴， 引入社会资本，增强公共产品供给能力”，此后PPP模式在中国获得了大规模的应用。 PPP模式作为出现在西方发达国家政府和社会资本合作的模式，经过多年的发展，已逐渐 成熟。通过借鉴西方PPP模式的经验，实现促进经济发展，实现合作“共赢”对我国经济发展 有着重要的意义。 本文内容分为五部分，首先，讲述PPP模式的国内外现状以及PPP项目的背景和意义；第 二，将一般项目与PPP项目进行对比，总结PPP项目的特点；第三，结合PPP项目的特点，对 PPP项目的现状进行分析，得出PPP模式下的SC项目的风险；第四，通过层次分析法分析项目 风险；最后，针对上文识别分析所得的风险提出相应防控措施。 本文认为，PPP项目有利于缓解地方财政压力，提高社会基础设施建设的效率，拓宽社会 资本的业务范围。但PPP项目存在高投资、长周期、低回报的特点，作为参与PPP项目的社会 资本方以及项目公司，必须提前对PPP项目做好风险识别与评估，做好预案，避免盲目投资导 致利益损失。最后，也希望通过本文为我国社会资本方以及项目公司参与管理PPP项目提供借 鉴。 关键词：PPP模式，PPP项目，风险识别，风险防控 PPP模式下SC项目的风险研究 II ABSTRACT With the rapid development of China's economy, in order to meet the increasing material demand, the 18th National Congress of the Communist Party of China put forward the new urbanization construction, and China's infrastructure construction has a new goal. As the leader of public infrastructure construction, the government cannot meet the high demand of infrastructure funds due to the limitation of financial funds and debt scale. In 2013, PPP mode began to receive attention in China. In 2014, the State Council issued the guiding opinions on innovation of investment and financing mechanisms in key areas to encourage social investment, which clearly stated that "in the fields of public services, resources and environment, ecological environment protection, infrastructure, etc., PPP mode was actively promoted, project partners were standardized, social capital was introduced, and public product supply capacity was enhanced". Since then, PPP mode has gained a large scale in China Application. PPP mode, as a mode of cooperation between government and social capital in western developed countries, has gradually matured after years of development. It is of great significance for China's economic development to promote economic development and achieve "win-win" cooperation by learning from the experience of Western PPP model. The content of this paper is divided into five parts. First, it describes the current situation of PPP mode at home and abroad, as well as the background and significance of PPP projects. Second, it compares general projects with PPP projects and summarizes the characteristics of PPP projects. Third, combining the characteristics of PPP projects, it analyzes the current situation of PPP projects and obtains the risks of "SC" projects under PPP mode. Fourth, it analyzes the projects by AHP Finally, put forward the corresponding prevention and control measures for the risks identified and analyzed above. This paper holds that PPP project is conducive to easing the local financial pressure, improving the efficiency of social infrastructure construction, and broadening the business scope of social capital. However, PPP project has the characteristics of high investment, long cycle and low return. As the social capital party and project company participating in PPP project, they must do a good job in risk identification and assessment, make a good plan, and avoid blind investment leading to loss of interest. Finally, I hope that this paper can provide reference for the social capital parties and project companies to participate in the management of PPP projects. Keywords: PPP model, PPP project, risk identification, risk prevention and control 南京航空航天大学硕士学位论文 III III 目 录 第一章 绪论 .......................................................................................................................................... 1 1.1研究背景与研究意义 ............................................................................................................... 1 1.1.1研究背景........................................................................................................................ 1 1.1.2研究意义........................................................................................................................ 2 1.2国内外研究现状....................................................................................................................... 2 1.2.1国外研究现状 ................................................................................................................ 3 1.2.2国内研究现状 ................................................................................................................ 4 1.3研究思路与主要内容 ............................................................................................................... 6 1.3.1研究思路........................................................................................................................ 6 1.3.2主要内容........................................................................................................................ 6 第二章 相关概念的界定与理论基础 ................................................................................................... 8 2.1 相关概念的界定...................................................................................................................... 8 2.1.1PPP模式概述 ................................................................................................................. 8 2.1.2 PPP项目主要特点 ........................................................................................................ 9 2.1.3 PPP 项目的实施流程 ................................................................................................. 10 2.1.4国内PPP项目的经验总结 ......................................................................................... 11 2.2 理论基础 ............................................................................................................................... 12 2.2.1风险管理理论 .............................................................................................................. 12 2.2.2 负债管理理论 ............................................................................................................. 13 2.3.3资产负债管理理论 ...................................................................................................... 14 2.2.4金融脆弱性理论 .......................................................................................................... 14 第三章 PPP模式下SC项目风险的分析 .......................................................................................... 16 3.1 SC项目的现状 ....................................................................................................................... 16 3.1.1项目实施背景 .............................................................................................................. 16 3.1.2 SC项目简介 ................................................................................................................ 16 3.1.3 SC项目的特点 ............................................................................................................ 17 3.2 SC项目的风险特征 ............................................................................................................... 19 3.3 SC项目风险因素的识别 ....................................................................................................... 20 3.3.1项目风险识别方法比较 ...................................................................