The Research on Critical Issues of Financing, Procurement and Operation in Large Urban Rail Transit Projects, written by Associate Professor Xiaoying Bai, researchers at the School of Finance, Zhongnan University of Economics and Law, and the Innovation and Talent Base for Digital Technology and Finance was officially published by the Economic Science Press.

Content Introduction

The upper part is "Financing", based on the improved Case-based Reasoning (CBR) method, it designs a financing mode and scheme comparison system for urban rail transit projects, and constructs a six-step two-stage model for retrieving high similarity projects of large urban rail transit projects and selecting financing modes and plans. The effectiveness of the model including 116 large urban rail transit project models is verified by two typical projects, Ningbo Rail Transit Line 1 Phase I and Hangzhou Metro Line 5. It provides a set of scientific and feasible auxiliary systems for financing decision-making of urban rail transit projects in China.

The middle part is "Procurement", in which the Public-Private Partnership (PPP) model is a typical financing method for urban rail transit projects. The lower part takes urban rail transit PPP projects as the main research object, and analyzes which type of operators local governments should choose as private sector consortia in the project bidding process. Based on 73 urban rail transit PPP project data in China, it comprehensively uses quantitative and qualitative research methods to explore the factors that affect the selection of operators (local rail transit groups/non-local operators) for urban rail transit PPP projects in China, as well as the configuration path between factors from the geographical dimension.

The lower part is "Operation", focusing on the operation stage of urban rail transit projects. Taking urban rail transit PPP projects as the research object, it analyzes various risks that the project may face during the operation stage, as well as the interaction and transmission path between risks. Furthermore, from the perspective of safety management, it constructs a Bayesian network of resilience for urban rail transit operation system, and explores key influencing factors and improvement paths of system resilience.

The Research on Critical Issues of Financing, Procurement and Operation in Large Urban Rail Transit Projects is funded by the National Natural Science Foundation of China (72371247), the National Natural Science Foundation of China Youth Program (71901220), the Hubei Provincial Social Science Fund General Project (late-stage funding project) (HBSK2022YB413), the "Innovation and Talent Base for Digital Technology and Finance" of the University's Discipline Innovation Talent Introduction Base (B21038), and the Central University Basic Research Fund Innovation Project of Zhongnan University of Economics and Law (2722023BY007).

Teacher Profile

Zheng Xian, Associate Professor of the Investment Department of the School of Finance, Zhongnan University of Economics and Law, graduated from Tongji University with a major in Construction Engineering Management. He has undertaken joint doctoral training at the National University of Singapore and the Hong Kong Polytechnic University. His main research interests are major project management, engineering investment and financing, carbon finance in the construction industry, and digitalization of construction. He has hosted national natural science fund general and youth projects, provincial projects, and enterprise commissioned projects. He has participated as a core member in one major national natural science fund project and three general projects, and has published nearly 20 high-quality SCI, SSCI, CSSCI, and EI search papers. The main journals are International Journal of Project Management, Automation in Construction, and Journal of Management Engineering and other high-quality journals.