BT investment is a transformation form of BOT, which means that after the operation of the project is contracted by the project management company, the contractor pays the construction cost 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 meaning. BT is the historical evolution of BOT, that is, construction-handover. The government introduces foreign funds 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 construction is completed, and the reasonable income of investors is 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 there are few BT projects similar to BOT projects.

Defects of BT investment model

BT project construction cost is too high. The adoption of BT mode must go through the stages of project determination, project preparation, bidding, negotiation, signing contracts related to BT, and handover. , involving government permission, examination and approval, foreign exchange guarantee and 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. Since 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 that investors should be urged and assisted to establish a three-level quality assurance system, apply for government quality supervision, improve various management systems, and do a good job in production safety. 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.