PPP项目涉及政府、社会资本、银行三方，但基层缺乏有效的 协调机制，形成"政府没钱付、社会资本没钱扛、银行不愿 让"的"三角僵局"。社会资本方作为中间方，既要应对银行的 违约追责，又要体谅政府的财政困难，陷入"两头受气"的境 地。 作者：杜涛 封图：图虫创意 2025年8月，国务院办公厅转发财政部《关于规范政府和社会资本合作存量项目建设和运营的指 导意见》（国办函〔2025〕84号，下称"84号文"）正式出台，文件明确提出坚持问题导向、分 类施策、降本增效，规范PPP存量项目建设和运营"，旨在通过优化融资环境、明晰权责边界，破 解PPP项目运维期的各类难题，稳定社会资本投资信心。 然而，84号文在县区层面的落地情况并不理想。 据明数科技公司统计的数据显示，区县层级的存量PPP项目投资规模占总投资规模比例42.41%， 数量占比总体比例68.62%%。明树数据科技副总经理洪志强分析，区县级项目数量多、但单体规 模小，主要涉及到市政工程/城镇综合开发/交通运输/生态建设和环境保护几个行业，且大多数需 要政府财政支持得以实施。 2025年12月，一位县区PPP部门负责人士对经济观察报表示，县区级项目面临融资降息难、 ...

2025年8月，国务院办公厅转发财政部《关于规范政府和社会资本合作存量项目建设和运营的指导意 见》（国办函〔2025〕84号，下称"84号文"）正式出台，文件明确提出坚持问题导向、分类施策、降本 增效，规范PPP存量项目建设和运营"，旨在通过优化融资环境、明晰权责边界，破解PPP项目运维期的 各类难题，稳定社会资本投资信心。 然而，84号文在县区层面的落地情况并不理想。 据明数科技公司统计的数据显示，区县层级的存量PPP项目投资规模占总投资规模比例42.41%，数量占 比总体比例68.62%%。明树数据科技副总经理洪志强分析，区县级项目数量多、但单体规模小，主要涉 及到市政工程/城镇综合开发/交通运输/生态建设和环境保护几个行业，且大多数需要政府财政支持得以 实施。 2025年12月，一位县区PPP部门负责人士对经济观察报表示，县区级项目面临融资降息难、财政付费滞 后、税务政策摇摆、协调机制缺失等多重困境，84号文的政策红利未能有效传导至基层。 这些问题在市级及以上虽然也存在，但在县区级更加突出。 84号文出台后，该人士尝试和社会资本、金融机构沟通，以降低收益率和贷款利率，但未果。该人士发 现，县区级难以获得 ...

Group 1: Internet Platform Pricing Regulations - The National Development and Reform Commission, along with other departments, has drafted rules to guide internet platform pricing behavior, emphasizing the importance of lawful and independent pricing by operators [2][3] - The rules specify requirements for price marking and transparency, mandating that platform operators disclose pricing strategies such as promotions and dynamic pricing to ensure public oversight [2] - The guidelines aim to foster fair competition among operators by establishing standards for price competition and integrity [2][3] Group 2: PPP Project Management - The State Council has issued guidelines to regulate the construction and operation of existing Public-Private Partnership (PPP) projects, focusing on problem-solving and efficiency [4][5] - Local governments are instructed to prioritize projects based on their economic viability and to ensure timely completion and operational readiness [4] - The guidelines encourage collaboration among social capital, financial institutions, and government entities to optimize project costs and enhance public service delivery [5] Group 3: Antitrust Guidelines in Public Utilities - The State Administration for Market Regulation has proposed antitrust guidelines for the public utility sector to prevent monopolistic practices and protect consumer interests [6][7] - The guidelines detail specific behaviors that constitute abuse of market dominance, such as unfair pricing and restrictive trading practices [6][7] - The initiative aims to clarify enforcement principles and provide a framework for compliance in the public utility sector, promoting healthy market competition [7] Group 4: Financial Support in Chongqing - Chongqing aims to increase its technology loan balance to approximately 1 trillion yuan by 2027, alongside significant targets for green loans and microfinance [9][10] - The plan includes 17 specific measures to enhance financial services across various sectors, including technology, green initiatives, and elderly care [9][10] - The city will also focus on digital finance transformation and support for small and micro enterprises through targeted financial actions [10] Group 5: Business Deregistration Guidelines in Xiamen - Xiamen has introduced guidelines for "substitute deregistration" to facilitate the exit of business entities facing challenges due to investor death or other issues [11][12] - The guidelines provide a structured approach for various types of investors to navigate the deregistration process, ensuring legal compliance and efficiency [11][12] - Measures are in place to protect the rights of creditors and shareholders, including avenues for preemptive relief and post-deregistration corrections [12] Group 6: Innovation and Entrepreneurship in Shanghai - Shanghai's Lingang Group has launched the "Super Individual 288 Action" plan to create a supportive environment for youth entrepreneurship, offering free office space and housing [14][15] - The initiative targets eight innovative sectors and aims to establish a significant number of high-level laboratories and industry clusters by 2030 [14][15] - Financial support mechanisms, including dedicated loans and funds, will be implemented to assist startups and enhance market access [15]

Core Insights - The article provides a comprehensive overview of the current state of the PPP (Public-Private Partnership) project database in China, highlighting its extensive historical data and coverage of various sectors and regions [1] - It emphasizes the significant investment distribution across different industries and regions, showcasing the leading sectors and provinces in terms of project numbers and investment amounts [2][5] - The article discusses the challenges and regulatory measures related to existing PPP projects, particularly focusing on the need for performance evaluation and financial sustainability [9][10][11] Group 1: Overall Situation of Existing PPP Projects - The total number of existing PPP projects is 9,685, with a total investment amounting to 162,190 billion yuan [3] - The top five sectors by project count and investment are: Transportation (1,406 projects, 59,369 billion yuan), Municipal Engineering (3,998 projects, 43,962 billion yuan), Urban Comprehensive Development (632 projects, 20,917 billion yuan), Ecological Construction and Environmental Protection (846 projects, 10,560 billion yuan), and Water Conservancy Construction (432 projects, 4,131 billion yuan) [2][3] - The leading provinces in terms of project count and investment are: Guizhou (496 projects, 12,139 billion yuan), Sichuan (538 projects, 11,718 billion yuan), Yunnan (406 projects, 11,146 billion yuan), Henan (805 projects, 10,446 billion yuan), and Zhejiang (488 projects, 10,056 billion yuan) [5] Group 2: Winning Enterprises in PPP Projects - Among the top ten central enterprises, there are 407 projects with a total investment of 30,075 billion yuan, averaging 74 billion yuan per project [6] - The top ten local state-owned enterprises have 283 projects with a total investment of 14,171 billion yuan, averaging 50 billion yuan per project [7] - The top ten private enterprises have 210 projects with a total investment of 8,434 billion yuan, averaging 40 billion yuan per project [8] Group 3: Regulatory and Performance Evaluation - The article highlights the need for effective management of existing PPP projects, addressing issues such as reliance on government subsidies and the impact of delayed payments on project viability [9][10] - It discusses the introduction of guidelines aimed at regulating existing PPP projects, emphasizing the importance of performance evaluation and timely payments based on project outcomes [10][11] - The guidelines encourage negotiation and optimization of project conditions, including financing rates and revenue indicators, to alleviate financial pressures on governments and ensure project sustainability [11]