7 Oct, 2016
China spends 500 mln yuan to support public-private partnerships
BEIJING, 5 October 2016, (Xinhua) — China will support the “preliminary stages” of public-private partnerships (PPP) with 500 million yuan (about 75 million U.S. dollars) in subsidies this year.
The funding will be spent on planning, evaluation, formulating implementation programs, preparing bids and contracts, financial consultation, legal counsel, and asset evaluation for over 700 PPPs, said the National Development and Reform Commission (NDRC).
The projects, worth 1.2 trillion yuan, cover energy, transportation, water conservation, environmental protection, civil engineering, health, culture and education.
Since 2015, the NDRC has given out 500 million yuan each year to support the “preliminary stages” of PPPs.
China has explored funding infrastructure and public works through the PPP model since 2013 amid concern over rising local government debt.
Since May 2015, the NDRC has announced two rounds of PPP projects worth 4.23 trillion yuan. Of which, contracts for 619 PPPs worth one trillion yuan had been signed by the end of July 2016.
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