摘要
我国城市轨道交通现已进入从“增量扩张”向“存量优化”转型的新发展阶段,既有线改造的现实紧迫性催生了庞大的资金需求,同时对资金长期可持续提出更高要求,构建与既有线改造需求相适应和匹配的投融资机制对于保障我国城轨交通高质量发展具有重要价值。然而,既有线改造类型多样且利益主体复杂,目前实践层面缺乏统一且完整的指导规划,理论层面也亟需为投融资模式创新提供充分研究支撑。本文在总结伦敦、日本、北京、上海、深圳、天津等典型案例经验的基础上,结合项目的经济属性、周期属性、多主体特征,探究分级分类的投融资体系和实践思路,并构建财政补贴与激励协同、存量资产与新增投资互促融合的投融资机制。以期为完善既有线改造顶层设计、形成多主体协同且面向中长期的投融资机制体系提供参考与决策依据。
Urban rail transit in China has entered a new stage of transforming from“incremental expansion”to“stock optimization”.This requires renovating existing lines,which poses a huge demand for funds and a high standard for long-term sustainability.Therefore,it is important to develop an investment and financing mechanism that matches the renovation needs and ensures the high-quality development of urban rail transit.However,there is a lack of comprehensive and unified guidance for different types of renovation projects and various stakeholders.There is also an urgent need for theoretical research to support the innovation of investment and financing modes.This paper analyzes the experiences of typical cases in London,Japan,Beijing,Shanghai,Shenzhen,and Tianjin.Based on the economic,cyclical,and multi-body characteristics of the projects,this paper proposes a grading and classification system for investment and financing,and constructs a mechanism that integrates financial subsidies and incentives with the stock of assets and new investment.This study can provide a reference and basis for improving the top-level design of renovation projects and forming a multi-principal synergistic investment and financing mechanism system for the medium and long term.
作者
郭雪萌
陈炎
程晏
李凯
马佳欣
GUO Xuemeng;CHEN Yan;CHENG Yan;LI Kai;MA Jiaxin(School of Economics and Management,Beijing Jiaotong University,Beijing 100044;Beijing Subway Operation Co.,Limited,Beijing 100044;Beijing Key Laboratory of Subway Operation Safety Technology,Beijing 100044;Regional Development Division,Beijing Municipal Commission of Development and Reform,Beijing 101160)
出处
《都市快轨交通》
北大核心
2024年第1期36-43,共8页
Urban Rapid Rail Transit
基金
国家自然科学基金面上项目(72272010,71973009)。
关键词
既有线改造
投融资机制
案例分析
政策建议
urban rail transit
renovation
investment and financing mechanism
case analysis
policy suggestion
作者简介
第一作者:郭雪萌,女,博士,教授,博士生导师,从事基础设施投融资研究,xmguo@bjtu.edu.cn;通信作者:马佳欣,女,博士研究生,从事基础设施投融资研究,m15632333130@163.com。
