BOT项目基准收益率的确定和政府保证责任.pdfVIP

第 22 卷 第 12期 中国给 水排 水 V o.l 22 No. 12 2006年 6月 CH INA W ATER WA STEWAT ER un. 2006 BOT 项目基准收益率的确定和政府保证责任 袁 飞, 金正基 (上海环保 集团 有限公司, 上海 200092) : 如 保证城市污水处理 BOT 项目的市场效率, 实现政府及运营商的双赢是一个十 分重要的课题只有在市场有效的情况下, 才能使 BOT 项目污水处理价格合理, 才能平衡政府最 终消费者和运营商之间的利益其中决定污水处理价格的一个关键因素是运营商的期望投资收益 率, 而该收益率与政府能否提供合理的保证责任及市场是否有效密切相关笔者在 一个较为有效 的市场机制下探讨了城市污水处理 BOT 项目的平均基准收益率和为提高市场有效性政府应该承 担的基本保证责任 : 城市污水处理; BOT 项目; 政府的保证责任 : X703. 1 : C : 1000- 4602( 2006) 12- 0078- 05 Determ ination ofExpectedBasicRate of Income for BOT Project on MunicipalWastewater Treatment and Governments Responsibilities YUAN Fei, IN Zhengji (Shangha iE nv ironm entalP ro tection Group C o. L td., Shangha i 200092, Ch ina ) bstract: How to ensure them arket efficiency of BOT project on munic ipalw astew ater treatm en t and how to achieve thew inw in strategy for BOT operators and governm ents are becom ing a very mi portan t subjec.t On ly under the effectivem arket conditions, the reasonable price ofw astew ater treatm ent can be set and can balance the interest am ong governm ents, BOT operators and endcustom ers. A key factor mi pacting the price is the BOT operators expected gain on investm ent. The expected gain is affected deep ly by m arket effic iency and guarantees prov ided by governm en ts. This paper studied the average basic rate of incom e for BOT project under a relative good m arket system and the governm ents responsibilities in order to mi prove them arket efficiency. Key words: m un icipalw astew ater treatm ent; BOT project; governm ents responsibilities BOT 20 80 , 1 市场经济条件下的风险与收益 , BOT