论政府项目回购（BT）协议项下应收账款质押

资金瓶颈成为我国公共基础设施产业发展的制约因素。在相关的投融资体制改革中，收费权担保融资交易方兴未艾，《物权法》出台后，在银行业中出现的新的融资形式——政府项目回购（BT）协议项下的应收账款质押，更是现在地方政府进行基础设施建设的输金方式。为保护银行业的合法权益，同时促进地方基础设施建设的长远发展，有必要厘清政府项目回购（BT）协议项下的应收账款质押的法律性质以及可行性与操作性。

An Analysis of Pledge on Account Receivable of BT Agreements

Capital shortage has been the crucial issue in the development of public infrastructure in China. In the reform of investment system, financing via charge security is flourishing. After the promulgation of ＂Real Right Law of People＇s Republic of China＂, the new form of finance in banking industry--pledge on the account receivable of BT （Built-Transfer） agreement--has play an important role in collecting fund for local infrastructure construction. To protect the legal rights and interests of banking industry, and to promote the long-term sustainable development of local infrastructure construction, it is necessary to clarity the legal nature of pledge on receivable account of BT agreements, to guarantee the feasibility and possibility.