China announces new PPP demonstration projects

BEIJING, Feb. 6 (Xinhua) -- China's Ministry of Finance Tuesday published details of new public-private partnership (PPP) demonstration projects, with a total investment of 758.8 billion yuan (around 125 billion U.S. dollars).

This is the fourth batch of such investment since 2014, as the country tries to stimulate social capital to sustain economic growth.

The 396 newly-added projects, including an expressway for Beijing's new airport, cover affordable housing, transport, education, technology, tourism, energy and agriculture, the ministry said.

PPPs are collaborative projects between government and private companies. So far, the government has published details of demonstration projects, with a total investment of 2.77 trillion yuan.

Chinese authorities have explored funding infrastructure and public works through PPP models since late 2013, amid growing concern over rising local government debt incurred through local financing vehicles. Enditem