中国规范PPP存量项目建设和运营

Core Viewpoint - The State Council of China has issued guidelines to ensure the smooth construction and operation of existing Public-Private Partnership (PPP) projects, emphasizing the need for prioritizing projects with certain returns and optimizing costs [1][2]. Group 1: Project Implementation - Local governments are required to prioritize the implementation of profitable projects and ensure their completion [1]. - For projects nearing completion, there is an emphasis on expediting construction, timely acceptance, and early operation [1]. - Projects that are progressing slowly may have their scale reduced, construction standards optimized, and unnecessary costs minimized, with a strict adherence to approved budget limits [1]. Group 2: Financing and Support - Financial institutions are encouraged to objectively assess and support the financing of ongoing projects in compliance with market and legal principles [1][2]. - The approval process for credit should be optimized, with no unjustified terminations or demands for additional documentation from local governments [1][2]. Group 3: Collaboration and Cost Management - The guidelines promote equal communication and mutual benefits among social capital, financial institutions, and government entities to optimize project implementation and reduce operational costs [2]. - Social capital is urged to enhance operational professionalism and reduce costs while improving project returns [2]. - Local governments can utilize general and special bonds to fund government expenditures related to eligible ongoing PPP projects [2]. Group 4: Debt Management and Legal Protections - There is a strong emphasis on managing local government debt, ensuring that borrowing does not exceed legal limits to maintain fiscal safety and sustainability [2]. - Measures must be taken to prevent contract disputes and ensure the protection of the rights of all parties involved, including government, social capital, and financial institutions [2].