| Author: | Peng, Tong |
| Title: | Risk ranking and allocation of PPP projects : a comparison between different types of private ownerships in Mainland China |
| Degree: | M.Phil. |
| Year: | 2013 |
| Subject: | Public-private sector cooperation -- China. Construction projects -- China. Construction industry -- China. Hong Kong Polytechnic University -- Dissertations |
| Department: | Department of Building and Real Estate |
| Pages: | 200 leaves : ill. ; 30 cm. |
| Language: | English |
| Abstract: | The Public-Private Partnership (PPP) model has been widely applied in the completion of not-for-profit government investment and large-scale infrastructure construction projects. This thesis aims to identify the characteristics of enterprise ownership in Mainland China and examine the similarities and differences of risk ranking and risk allocation among different types of private ownership. The objectives of the study are to: (1) analyze the ownership patterns of Chinese enterprises; (2) review the concept and manifestations of PPP; (3) compare the PPP model and other methods of managing investment and construction projects with various risk control methods; and (4) examine PPP risks and risk allocation in relation to the status of enterprises in Mainland China. Studies on enterprises{174} ownership status and PPP cases show that China entered the hybrid ownership economic era during its transition from a planned to a market economy model. A total of 23 different types of ownership of Chinese enterprises are registered at the Administration for Industry and Commerce. However, state-owned enterprises, along with a few foreign enterprises, comprise the primary force driving PPP projects in China. From the perspective of enterprise ownership, the types of businesses participating in PPP projects are state-owned, state-held, and foreign enterprises. Private enterprises, also referred to as "non-governmental enterprises" and are usually characterized by hybrid ownership with a complex structure, only undertake certain subcontracting projects even if they become involved in PPP projects. In studying the operational process and risk factors related to PPP projects, this thesis analyzes the evolution of the relationship between the project subject (public sector) and the object (project contractor). The two parties share the risks because the public sector and the project contractor are in a long-term cooperative relationship during the operation of the PPP project. During project implementation, however, even if risks are re-allocated for the second time (i.e., some risks are transferred to the subcontractors, namely, the private or non-governmental enterprises), the project contractor is still the first stakeholder that will bear the corresponding risks. In examining risk factors, risk classification and risk allocation, this thesis conducts a comparative analysis based on the type of enterprise ownership (i.e., state-owned, foreign, and private or non-governmental organizations). The innovations of this thesis are as follows: it fills a knowledge gap by comprehensively analyzing the ownership reforms implemented by Chinese enterprises, by clarifying the objects of PPP projects in China, and by conducting an in-depth analysis of PPP risks from their causes to their allocation. This thesis also provides recommendations on how to mitigate the risks. |
| Rights: | All rights reserved |
| Access: | open access |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| b26817305.pdf | For All Users | 15.25 MB | Adobe PDF | View/Open |
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