The number of public-private-partnership (PPP) financing projects promoted by the Chinese government has reached 6,650, with a total projected investment of 8.7 trillion yuan, said a top official of the Ministry of Finance (MOF) on Friday.
These PPP projects mainly involve road transportation, environment protection and urban public utilities, according to the official. Shi Yaobing, vice minister of the MOF, also said that China's efficiency in supplying public products and services should be improved as the process of urbanization and industrialization is accelerating. In the meantime, China's fiscal income has dropped sharply amid the "new normal" economy, and standardization and reform of local financing platforms is also urgently needed, said Shi.
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