April 2022

Explaining the Adoption Rate of Public-Private Partnerships in Chinese Provinces: A Transaction Cost Perspective

Eoin Reeves (ed), University of Limerick, Ireland

Study by Jie Tan & Zhirong Zhao 

China experienced a boom in newly announced PPP projects after a 2014 Budget law encouraged local governments to adopt the PPP approach for the delivery of vital infrastructure.  The number of PPP projects initiated by local governments subsequently doubled every six months and as of October 2018, according to the Ministry of Finance (MOF), local governments had initiated 12,471 projects, with an expected investment of 17.3 trillion RMB (about 2.5 trillion dollars).

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