Research on Economic Evaluation Methods and Parameters for Government Investment Projects

Author: Tongji University
Publisher:
Publish Date: 2004-01-01
Features: Since the State Planning Commission and the Ministry of Construction jointly released the "Economic Evaluation Methods and Parameters for Construction Projects" (Second Edition) in 1993 (hereinafter referred to as "Methods and Parameters"), China's economic system reform has made significant progress, and a socialist market economy system has been preliminarily established. Market mechanisms have replaced the fundamental role of planned directives in resource allocation to a considerable extent. The work of economic evaluation for construction projects has accumulated new experience but also presented new challenges. According to the arrangement of the State Planning Commission and the Ministry of Construction in 2000, the Institute of Standards and Quotas of the Ministry of Construction was responsible for organizing and carrying out the revision work of "Methods and Parameters" (Second Edition). Based on the "Methods and Parameters" (Second Edition), this study preliminarily proposes a theoretical and methodological framework for the economic evaluation of government investment projects, drawing on national laws and regulations, economic principles, and international experience. Innovative opinions have been put forward in areas such as the identification and quantification of costs and benefits, government cash flow analysis, evaluation of concession projects, priority ranking of indicators, calculation of the social discount rate, and the value of time saved and life value. This research report is clear in logic, well-structured, rich in data, rigorous in argumentation, and has a certain theoretical depth, making it highly targeted and suitable for reference in the revision work of "Methods and Parameters" (Second Edition). At the same time, it can also serve as a reference for investment project managers at all levels, as well as researchers, consultants, and evaluators in various government investment project evaluations, to further strengthen research in practice, summarize experience, continuously improve and enhance, and promote the decision-making, consulting, and evaluation work of government investment projects in China.