基于PFI融資的公租房開發(fā)模式研究
發(fā)布時間:2018-06-06 03:27
本文選題:公租房 + PFI。 參考:《南京工業(yè)大學》2013年碩士論文
【摘要】:近年來,為了解決中低收入群體的住房問題,我國加大了公租房的投資建設力度。我國大量公租房建面臨的首要問題是資金來源問題,當前公租房建設資金的主要來源是政府財政支出、住房公積金增值收益及土地出讓凈收益等,資金缺口仍然很大。發(fā)達國家和地區(qū)公共住房融資建設的成功經(jīng)驗表明政府通過優(yōu)惠政策逐步引入民間資本參與公共住房建設是一種普遍趨勢,這有利于減輕政府的財政負擔,提高公租房建設效率,,保障公租房建設運營的長效性。 本文通過資料收集和文獻查閱對國內(nèi)外公租房主要融資模式進行對比分析,結(jié)合當前我國公租房投資建設現(xiàn)狀及金融制度環(huán)境,提出通過PFI模式引入民間資本參與公租房的投資建設。首先,對PFI模式的內(nèi)涵、運作框架、適用條件、社會效益和財務效益進行分析,并從運作特點、適用條件、經(jīng)濟效果三個方面對BT、PFI、REITs三種模式進行了對比分析,指出PFI模式比BT、REITs模式更適合當前我國公租房的融資建設。其次,結(jié)合我國公租房融資建設的特點指出公租房PFI模式下政府公共資助的必要性,根據(jù)我國公租房建設的相關(guān)政策提出政府公共資助的主要方式并通過算例對各種方式的資助力度進行定量分析,從有效性和可行性方面對不同的資助方式進行了對比,得出一般情況下資助方式的效果從高到低依次為土地劃撥、稅費優(yōu)惠、信貸支持、特許權(quán)、信用擔保和財政補貼。最后,本文指出由于信息不對稱公租房PFI融資建設中可能出現(xiàn)的問題,并針對當前我國推行公租房PFI模式可能面臨的障礙提出了政策建議。
[Abstract]:In recent years, in order to solve the housing problems of middle and low income groups, China has increased the investment and construction of public rental housing. The most important problem in the construction of public rental housing in China is the source of funds. At present, the main sources of funds for public rental housing construction are government expenditure, value-added income of housing accumulation fund and net income of land transfer, etc., and the fund gap is still very large. The successful experience in the construction of public housing financing in developed countries and regions shows that it is a universal trend for the government to gradually introduce private capital to participate in the construction of public housing through preferential policies, which is conducive to lightening the financial burden of the government. Improve the efficiency of public rental housing construction, to ensure the long-term operation of public rental housing. This paper makes a comparative analysis of the main financing modes of public rental housing at home and abroad through data collection and literature review, combining with the current situation of investment and construction of public rental housing in China and the financial system environment. This paper proposes to introduce private capital into the construction of public rental housing through PFI model. First of all, the connotation, operation frame, applicable condition, social benefit and financial benefit of PFI model are analyzed, and the three models are compared and analyzed from three aspects: operation characteristics, applicable condition and economic effect. It is pointed out that the PFI model is more suitable for the financing construction of public rental housing in China than the BTX REITs model. Secondly, according to the characteristics of public rental housing financing construction in China, it points out the necessity of public housing financing under the PFI model of public rental housing. According to the related policies of public rental housing construction in our country, this paper puts forward the main ways of government public subsidy and makes a quantitative analysis of the intensity of various forms of funding through examples, and compares the different ways of financing from the aspects of effectiveness and feasibility. The results show that the effects of financial aid from high to low are land transfer, tax preference, credit support, concession, credit guarantee and financial subsidy. Finally, this paper points out the possible problems in the construction of public rental housing (PFI) financing due to asymmetric information, and puts forward some policy recommendations on the possible obstacles to the implementation of the PFI model of public rental housing in China.
【學位授予單位】:南京工業(yè)大學
【學位級別】:碩士
【學位授予年份】:2013
【分類號】:F299.23
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