China's PPP projects drive over 950 bln-USD investment in past 5 years

BEIJING, Nov. 23 (Xinhua) -- Public private partnerships (PPP) signed in the past five years have driven 6.6 trillion yuan (about 952 billion U.S. dollars) of investment in China, the China Securities Journal reported.

A total of 4,302 PPPs had been signed and implemented by the end of October, Jiao Xiaoping, head of the China Public Private Partnerships Center of the Ministry of Finance, was quoted by the newspaper as saying at a forum held in Shanghai Thursday.

The projects covered various fields including urban engineering, public transportation and environmental protection, according to the newspaper.

PPPs are a collaborative investment model between government and private companies.

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