Analysis on the Ownership of Urban Underground Utility Tunnel

Qian Jiuling; Cao Fuguo; Zhen Deyun

doi:doi:10.11648/j.urp.20190403.15

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Analysis on the Ownership of Urban Underground Utility Tunnel

Qian Jiuling, Cao Fuguo, Zhen Deyun

Published in Urban and Regional Planning (Volume 4, Issue 3)

Received: 3 September 2019 Published: 23 October 2019

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Abstract

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.

Published in	Urban and Regional Planning (Volume 4, Issue 3)
DOI	10.11648/j.urp.20190403.15
Page(s)	115-120
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2019. Published by Science Publishing Group

Keywords

Utility Tunnel, Ownership, Criterion

References

[1]	Ma Yusheng: On the Construction of Urban Underground Space Right and Its Property Law [J], Journal of Legal Business, 2010 (3).
[2]	Guiding Opinions of the General Office of the State Council on Promoting the Construction of Urban Underground utility tunnel. ([2015] No. 61).
[3]	Qingxia, Chen. Dynamic response of utility tunnel during the passage of Rayleigh waves [J]. Earthquake Science, 2010, 23 (1).
[4]	"Technical Specifications for Urban utility tunnel" (GB50838-2015).
[5]	Ju Di, Research on Risk Distribution of PPP Projects under Incomplete Contract Theory——Taking PPP Project of G City Underground utility tunnel as an Example, Management Observatory 2019, (24).
[6]	Dicey A V. The Law of the Constitution [J]. Journal of Political Economy, 2012.
[7]	Mao Huixian, Research on the operation and management mode of urban underground utility tunnel——Taking the pilot project of underground comprehensive pipe gallery in Suzhou as an example, reform and opening up, 2019 (10).
[8]	PPP project construction international seminar series three seminars: PPP project asset ownership legal issues [J], Chinese government procurement, 2016 (3).
[9]	Benjamin Klein, Transaction Cost Determinants of "Unfair" Contractual Arrangements [J], The American Economic Review, Vol. 70, No. 2, 1980.
[10]	Oliver Hart: incomplete contracts and public ownership: remark, and an application to public-private partnerships [J], The Economic Journal, 2003, 113 (March).
[11]	Besley, T. and Ghatak, M. Government versus private ownership of public goods [J], Quarterly Journal of Economics, 2001, 116 (4).
[12]	Jia Kang, Research on Investment Return Mechanism of Urban Underground utility tunnel, Economic Research Reference, 2018 (21).
[13]	LI Yan-li, Beijing Sport University. Research on Asset Securitization for Large Sport Facilities in China under the Marketization Reform [J]. China Sport Science & Technology, 2014.
[14]	Xing Hongfei, on several issues of urban underground space rights, Nanjing Social Science, 2011 (8).
[15]	Hu Zhengfang, on the legal issues of the construction of underground space rights in China, politics and law. 2006 (5).

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APA Style

Qian Jiuling, Cao Fuguo, Zhen Deyun. (2019). Analysis on the Ownership of Urban Underground Utility Tunnel. Urban and Regional Planning, 4(3), 115-120. https://doi.org/10.11648/j.urp.20190403.15

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ACS Style

Qian Jiuling; Cao Fuguo; Zhen Deyun. Analysis on the Ownership of Urban Underground Utility Tunnel. Urban Reg. Plan. 2019, 4(3), 115-120. doi: 10.11648/j.urp.20190403.15

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AMA Style

Qian Jiuling, Cao Fuguo, Zhen Deyun. Analysis on the Ownership of Urban Underground Utility Tunnel. Urban Reg Plan. 2019;4(3):115-120. doi: 10.11648/j.urp.20190403.15

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@article{10.11648/j.urp.20190403.15,
  author = {Qian Jiuling and Cao Fuguo and Zhen Deyun},
  title = {Analysis on the Ownership of Urban Underground Utility Tunnel},
  journal = {Urban and Regional Planning},
  volume = {4},
  number = {3},
  pages = {115-120},
  doi = {10.11648/j.urp.20190403.15},
  url = {https://doi.org/10.11648/j.urp.20190403.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.urp.20190403.15},
  abstract = {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.},
 year = {2019}
}

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TY  - JOUR
T1  - Analysis on the Ownership of Urban Underground Utility Tunnel
AU  - Qian Jiuling
AU  - Cao Fuguo
AU  - Zhen Deyun
Y1  - 2019/10/23
PY  - 2019
N1  - https://doi.org/10.11648/j.urp.20190403.15
DO  - 10.11648/j.urp.20190403.15
T2  - Urban and Regional Planning
JF  - Urban and Regional Planning
JO  - Urban and Regional Planning
SP  - 115
EP  - 120
PB  - Science Publishing Group
SN  - 2575-1697
UR  - https://doi.org/10.11648/j.urp.20190403.15
AB  - 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.
VL  - 4
IS  - 3
ER  -

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Author Information

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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Plain Text BibTeX RIS

APA Style

Qian Jiuling, Cao Fuguo, Zhen Deyun. (2019). Analysis on the Ownership of Urban Underground Utility Tunnel. Urban and Regional Planning, 4(3), 115-120. https://doi.org/10.11648/j.urp.20190403.15

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ACS Style

Qian Jiuling; Cao Fuguo; Zhen Deyun. Analysis on the Ownership of Urban Underground Utility Tunnel. Urban Reg. Plan. 2019, 4(3), 115-120. doi: 10.11648/j.urp.20190403.15

Copy | Download

AMA Style

Qian Jiuling, Cao Fuguo, Zhen Deyun. Analysis on the Ownership of Urban Underground Utility Tunnel. Urban Reg Plan. 2019;4(3):115-120. doi: 10.11648/j.urp.20190403.15

Copy | Download

@article{10.11648/j.urp.20190403.15,
  author = {Qian Jiuling and Cao Fuguo and Zhen Deyun},
  title = {Analysis on the Ownership of Urban Underground Utility Tunnel},
  journal = {Urban and Regional Planning},
  volume = {4},
  number = {3},
  pages = {115-120},
  doi = {10.11648/j.urp.20190403.15},
  url = {https://doi.org/10.11648/j.urp.20190403.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.urp.20190403.15},
  abstract = {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.},
 year = {2019}
}

Copy | Download

TY  - JOUR
T1  - Analysis on the Ownership of Urban Underground Utility Tunnel
AU  - Qian Jiuling
AU  - Cao Fuguo
AU  - Zhen Deyun
Y1  - 2019/10/23
PY  - 2019
N1  - https://doi.org/10.11648/j.urp.20190403.15
DO  - 10.11648/j.urp.20190403.15
T2  - Urban and Regional Planning
JF  - Urban and Regional Planning
JO  - Urban and Regional Planning
SP  - 115
EP  - 120
PB  - Science Publishing Group
SN  - 2575-1697
UR  - https://doi.org/10.11648/j.urp.20190403.15
AB  - 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.
VL  - 4
IS  - 3
ER  -

Copy | Download