Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Policies

    PPP rules tightened to reduce fiscal risk

    By Wang Yanfei | China Daily | Updated: 2017-10-12 06:58
    Share
    Share - WeChat

    China will reinforce regulations on public-private partnership projects as part of its efforts to prevent illegal borrowing by local governments, according to a senior official with the nation's top economic regulator.

    "Strengthened supervision over local governments' financing for PPP projects, which began earlier this year, marks a new starting point (in PPP management)," said Han Zhifeng, deputy head of the Fixed-Asset Investment Department of the National Development and Reform Commission.

    It will be a long-term process, he told China Daily. "Local governments should adapt to long-term strengthening of oversight."

    Han also said controls will be extended to specific projects. "Control of risks should be improved at an early phase and carried out on a case-by-case basis," he said.

    PPP is an effective way to engage private investment in local development. But some local governments have used it to disguise too much borrowing from banks, increasing the country's overall financial risks.

    Controlling local government debt risks will be a long-term task, according to a statement released after the National Financial Work Conference held in July.

    In June, six top government regulatory bodies issued a guideline on ramping up efforts to controls such risks.

    The statement specified that local governments will be prohibited from providing guarantees for securing fixed returns for enterprises and lenders in PPP projects.

    Local governments are not allowed to shoulder the responsibility for reimbursement for those projects or use government income to repay debts, according to the statement.

    "The PPP contracts should clarify the rights and obligations of local governments and private investors," said Xu Dongsheng, a manager of Beijing Enterprises Water Group.

    "Without clear rules, uncertainties that emerge during years of construction will cause disputes," he said.

    Clear boundaries will help boost private participation, said Wei Jianguo, vice-president of the China Center for International Economic Exchanges.

    Experts said the country is facing a challenge because financial risks can be found in areas like the property market that include local government debts.

    Xin Zhiming contributed to this story.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    亚洲视频中文字幕| 精品无码人妻夜人多侵犯18| 无码国产精品一区二区免费模式 | 天堂资源中文最新版在线一区| 亚洲动漫精品无码av天堂| 在线播放中文字幕 | 中文字幕乱码中文乱码51精品| 亚洲av永久无码制服河南实里| 久久久久久久久久久久中文字幕| gogo少妇无码肉肉视频| 亚洲av无码专区国产乱码在线观看| 国产亚洲美日韩AV中文字幕无码成人 | 亚洲成A人片在线观看无码3D| 夜夜添无码一区二区三区| 最近中文字幕mv免费高清视频8| 无码色AV一二区在线播放| 国产午夜无码精品免费看动漫| 亚洲精品成人无码中文毛片不卡| 中文字幕九七精品乱码 | 无码精品A∨在线观看免费| 中文字幕av无码一区二区三区电影 | 惠民福利中文字幕人妻无码乱精品| 宅男在线国产精品无码| 2021国产毛片无码视频| 国产免费无码AV片在线观看不卡| 亚洲AV无码AV男人的天堂| 国产色综合久久无码有码| 寂寞少妇做spa按摩无码| 在人线AV无码免费高潮喷水| 台湾无码AV一区二区三区| 无码国产精品一区二区免费式影视| 大蕉久久伊人中文字幕| 日韩欧美一区二区三区中文精品| 人妻无码αv中文字幕久久| 久久99中文字幕久久| а天堂8中文最新版在线官网| 久久亚洲精品中文字幕| 最近新中文字幕大全高清| 无码国产精品一区二区免费式影视 | 亚洲精品无码专区2| 婷婷色中文字幕综合在线|