BT investment is a transformation form of BOT, which means that after the operation of a project is contracted by a project management company, the contractor pays the construction money and then hands it over to the project owner after the construction acceptance is completed. BOT is the abbreviation of build-own-transfer and build-operate-transfer, and now it usually refers to the latter. BT is the historical evolution of BOT, that is, construction-handover. The government introduces foreign capital or private funds through franchise agreements to carry out infrastructure construction exclusive to the government. After the completion of infrastructure construction, the relevant rights of the project facilities will be redeemed by the government according to the agreement. Generally speaking, BT investment is also a "turnkey project", which is invested and built by social investors and repurchased by the government after the completion of the construction. The reasonable income of investors will be considered when repurchasing. In addition to the evolution of BT, the evolution of BOT is also in the form of BOOT, that is, build-own-operate-hand over; BOO mode, that is, build-own-operate; BLT mode, that is, build-lease-transfer; Boost mode, that is, build-own-operate-subsidize-transfer; BTO mode, i.e. build-transfer-operate, etc. There are many BOT projects in the standard sense, but BT projects similar to BOT projects are rare.

Defects of BT investment model

BT project construction cost is too high. The adoption of BT mode must go through the stages of determining the project, project preparation, bidding, negotiation, signing BT-related contracts and handover. , involving government permission, examination and approval, foreign exchange guarantee and many other links. , involving a wide range, strong complexity, difficult operation, many obstacles, and difficult implementation. Most importantly, because there are many intermediate links, the financing cost has also increased. It is difficult to supervise financing under BT mode. Due to the particularity of BT legal nature, the complexity of legal relationship and the combination of contracts, financing supervision is difficult.

The subcontracting situation of BT project is serious. As the government only has direct contact with the general contractor under BT mode, it is suggested that the project enterprise should be responsible for the implementation. Therefore, the implementation of the project may be detailed, and the subcontracting of construction projects will become more and more serious.

The quality of BT project cannot be guaranteed as it should be. In the BT project, although the government stipulates to urge and assist investors to establish a three-level quality assurance system, apply for government quality supervision, improve various management systems, and do a good job in safety production. However, due to the interests of investors, there are problems in the construction standards, construction contents and construction progress of BT projects, and the construction quality cannot be guaranteed as it should be.