Optimization of risk sharing mechanism for infrastructure project financing under PPP mode
PPP模式下基础设施项目融资风险分担机制优化

摘要

PPP模式在基础设施建设中广泛应用，但融资风险高企往往影响项目推进与收益实现。通过对融资风险成因及分布特征的分析，可以发现单一主体过度承担风险导致资金成本上升与项目不稳定。优化风险分担机制需遵循公平、效率与可持续原则，结合合同设计、担保体系与政府引导作用，推动多方合理配置风险。该机制的优化有助于缓解融资压力，提高社会资本参与积极性，促进基础设施投资的长期稳健运行。

Abstract

While the Public-Private Partnership (PPP) model has been widely adopted in infrastructure development, persistent financing risks often hinder project implementation and revenue generation. Analysis of risk causes and distribution patterns reveals that excessive risk exposure by individual entities leads to increased capital costs and project instability. Optimizing risk-sharing mechanisms should adhere to principles of fairness, efficiency, and sustainability. By integrating contract design, guarantee systems, and government guidance, this approach facilitates rational risk allocation among stakeholders. Such mechanism optimization helps alleviate financing pressures, enhances private capital participation enthusiasm, and promotes long-term stable operation of infrastructure investments.