城市地下空间开发利用的投融资体制研究

城市地下空间项目划分为非经营性、准经营性和经营性三种.部分非经营性项目及关系国计民生的重要地下基础设施,应由政府组织生产,向社会提供;而市场提供、生产则是市场经济条件下准经营性和经营性项目的主要提供与生产方式.地下空间具有供给有限性、用途多样性、开发不可逆性、效益综合性等特点,开发过程应由政府主导,政府可以通过建立规制来实现其对地下空间开发利用的主导地位.同时地下空间项目又具有投资额高,投资回收期长,有投资规模效应等特点,单靠政府投入是不现实的,需要市场化的投融资机制.政府主导的市场化投融资体制是政府规制与市场机制的有机结合,可以通过配套政策创新,投资主体多元化,资金来源多元化和融资方式多元化等手段来构建.

Research on the Investing and Financing System of City Underground Space Development and Utilization

City underground projects are divided into non-operating items,quasi-operating items and operating items. Some non-operating underground items and important underground infrastructure that concerns the nation's economy and the people's livelihood should be provided and produced by government.The quasi-operating and operating underground items are mainly provided and produced by market subjects in the market-oriented economy. With the features of limited supply, multipurpose,irreversibility and overall returns, the development of city underground space should be guided by local government.Government plays a leading role in the development of city underground space by working out rules and regulations.With the features of huge investment amount,long payback period and scale effect.It is not practical for a local government to develop city underground space on its own.The market-oriented mechanism of investment and financing on city underground space should be set up.The government-guiding and market-oriented system of investment and financing on city underground space combines governmental regulations and market mechanism.It can be set up by means of innovation of supporting measures and diversification of investment subjects,capital resources and financing modes.