PPP项目社会资本主动退出方式研究

PPP模式的发展速度在近些年有所下滑,其中一项主要因素是政府部门对于PPP项目中社会资本退出机制的构建并不完备。本文在梳理我国关于社会资本退出的政策和PPP项目退出机制研究现状的同时,重点分析了PPP模式中社会资本方主动退出的需求,以及主动退出成功对于社会资本方的必要性。之后,结合案例分别分析了到期移交、股权转让、股权回购、资产证券化、公开上市等社会资本主动退出方式。使社会资本方在主动退出PPP项目时拥有更多参考,提升社会资本参与PPP项目的积极性。

Research on the Withdrawal Mode of Social Capital in PPP Projects

PPP model has been developing slowly in recent years,and the imperfect withdrawal mechanism of social capital in PPP projects by government departments is one of the main reasons.According to the research status quo of the PPP project exit mechanism,and exit policy to the state of social capital,social capital from the PPP pattern of demand of active exit,analysis the necessity of the social capital initiative exit successfully,at the same time due to transfer,equity transfer,share repurchases,asset securitization,public social capital,such as an active way of exit made analysis and combined with successful cases.It provides a certain reference for social capital to withdraw from PPP projects,and then increases the enthusiasm of social capital to participate in PPP projects.