November 2022

Government Subsidies and the Development of PPP Projects: Evidence from China

Eoin Reeves (ed), University of Limerick, Ireland

Article by Zhen Li, Yanyan Shen and Maogang Tang

There has been a boom in PPP activity in China in recent years.  According to the authors of this paper, as of December 2019, the official data indicated that 9,440 projects, with an investment value of RMB 14.4 trillion were at different stages of development.  However, despite rapid development, the outcomes of PPP in China are unsatisfactory.  For example, a significant proportion of listed PPP projects have not reached the stage when contracts are signed.  In addition, the share of signed PPP contracts that have commenced construction is relatively low and media reports suggest that over half of listed PPP projects may not commence construction.

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