Analysis on the Ownership of Urban Underground Utility Tunnel
Urban and Regional Planning
Volume 4, Issue 3, September 2019, Pages: 115-120
Received: Oct. 23, 2019;
Published: Oct. 23, 2019
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Qian Jiuling, The School of Public Finance and Taxation, Central University of Finance and Economics, Beijing, P. R. China
Cao Fuguo, The School of Law, Central University of Finance and Economics, Beijing, P. R. China
Zhen Deyun, National Tax Institute of State Taxation Administration of China, Yangzhou, China
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The utility tunnel contains important infrastructure such as electricity, communication and heating, which is related to the vital interests of the people. The utility tunnel construction can effectively solve the problem of “road zipper”, make good use of underground space resources and improve the city's comprehensive management capabilities. Based on the observation of theory and practice, the problem of ownership of urban Underground utility tunnel is a prominent problem affecting its development. There is a lot of controversy over ownership issues, and most SPV (Special Purpose Vehicle) company want to enjoy it, which is good for bank financing. However, The utility tunnel has special characteristics, and the government enjoys the ownership can better protect the public interest. In most cases of the PPP project, it is based on such considerations that the ownership of the assets belongs to the state. For the better development of underground utility tunnel, it is urgent now that we need to improve the legal system of underground space and set standards for transfer of ownership. In order to facilitate the financing of SPV company, we should improve the the pledge of accounts receivable and the path of asset securitization, instead of relying solely on the traditional real estate mortgage to realize the function of guarantee.
Utility Tunnel, Ownership, Criterion
To cite this article
Analysis on the Ownership of Urban Underground Utility Tunnel, Urban and Regional Planning.
Vol. 4, No. 3,
2019, pp. 115-120.
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