民间投资对稳就业、稳企业、稳市场、稳预期具有重要作用。随着存量政策和增量政策共同发力，我国 民间投资结构持续优化，呈现出向实向新的趋势。不过，当前部分行业领域民间投资仍面临动力不足的 问题，进一步提振民间投资，潜力在哪里？ 向改革要"牵引力"，为民间资本打开广阔空间—— 深化投资体制机制改革，是打破行业准入壁垒、释放民间投资潜力的核心路径。"十五五"规划建议明确 提出"完善民营企业参与重大项目建设长效机制"。目前，《市场准入负面清单（2025年版）》已"瘦 身"至106项，较2018年版减少45项，保障民企公平竞争权利，让民企可专心创业、放心投资、安心经 营；不久前，国务院办公厅印发《关于进一步促进民间投资发展的若干措施》的通知，明确鼓励民间资 本参与铁路、核电等重点领域建设，引导其有序流向工业设计、共性技术服务等高价值服务行业关键环 节；未来，围绕"投资于物与投资于人紧密结合"的导向，民间资本还有望加快拓展公共服务领域投资场 景……"玻璃门""旋转门"正被一一拆除，随着改革持续深化，民间资本必将舒活筋骨，大显身手。 向政策要"托举力"，为民间资本提供坚实支撑—— 向营商环境要"吸引力"，为民间资本注入坚定信 ...

Core Viewpoint - The article discusses the challenges faced by existing PPP (Public-Private Partnership) projects in China, particularly due to economic pressures and delayed payments from local governments. It highlights new regulations aimed at addressing these issues and ensuring timely payments based on performance results [2][4][8]. Summary by Sections Current Challenges in PPP Projects - Existing PPP projects are experiencing stagnation and financial imbalance, with many facing delays and underperformance in user payments. Experts express concerns that prolonged issues could lead to financial difficulties for investors and systemic risks for financial institutions [2][3]. - Local governments often delay payments, citing hidden debts related to PPP projects, which exacerbates the financial strain on these projects [4][8]. New Regulations and Their Implications - In August, the State Council issued new guidelines to regulate the construction and operation of existing PPP projects, emphasizing the need for local governments to prioritize projects with certain revenue potential and to expedite the completion of near-finished projects [2][5]. - The new regulations clarify that financing for existing PPP projects is not illegal, addressing previous concerns about increasing local government hidden debts. It specifies that local governments should not be required to provide additional commitments for financing [3][7]. Financial Support and Communication - The new guidelines encourage financial institutions to actively support financing for ongoing projects and prohibit arbitrary termination of credit approval processes. This is expected to alleviate financing difficulties faced by existing PPP projects [6][11]. - The regulations promote equal communication among social capital, financial institutions, and government entities to optimize project implementation and reduce operational costs [11][14]. Addressing Payment Delays - The new rules mandate timely payments based on performance results and prohibit delays due to construction acceptance or performance evaluations. This aims to tackle the prevalent issue of payment arrears from local governments [4][8]. - Previous regulations have provided channels for addressing payment issues, and the new guidelines reinforce the importance of adhering to these payment structures [8][9]. Future Considerations - The article notes that while the new regulations provide a framework for addressing existing issues, the effectiveness of these measures in enhancing government credit and ensuring timely payments remains uncertain [9][10]. - The potential for renegotiating project terms to lower financing costs and improve repayment capabilities is highlighted, suggesting that all parties should engage in discussions to find mutually beneficial solutions [10][12].