中文摘要：

针对公租房项目投资风险评价中存在的随机性和模糊性，利用云物元分析理论，将投资风险的等级、评价指标及其特征值作为物元，利用云理论描述特征值，运用云理论的不确定推理特性和物元理论兼具定性、定量分析的优点，建立了私营企业公租房投资风险云物元评价模型。然后，从私营企业角度出发，针对PPP模式下公租房项目的特点，构建了PPP模式下公租房项目投资风险评价指标体系。最后以天津市公租房项目投资为例，对评价方法进行了应用研究，得出总的投资风险等级为较高，与实际情况一致：天津市公租房项目投资中私营企业面临着较高的风险，参与积极性不高。云物元评价模型为公租房投资风险评价提供了一种新的评价思路。

英文摘要：

Considering the randomness and fuzziness in the investment risk evaluation of public rental housing, the paperestablishes the investment risk evaluation model of private enterprises with the level, the evaluation index and thecharacteristic value of investment risk taken as matter-element according to the cloud matter element analysis theory. Theeigenvalue is described with cloud theory, and the uncertainty reasoning of cloud theory as well as the advantages ofqualitative and quantitative analysis of matter-element theory is also taken into consideration. Then, an investment riskevaluation index system under the PPP mode for the private sector is put forward from the perspective of private enterprise,which is based on characteristics of public rental housing projects under the PPP mode. Finally, taking Tianjin publicrental housing project investment as an example, the evaluation method is applied to practical research, and we concludethe general investment risk is relatively high for private enterprise, which conforms to Tianjin＇s actual situation. That is, theinvestment risk is relatively high for the private enterprises in public rental housing projects, and their enthusiasm toparticipate in the investment is not high. Cloud matter element evaluation model provides a new evaluation method forinvestment risk evaluation of public rental housing.