Core Viewpoint - The new guidelines issued by the State Council aim to standardize the construction and operation of existing Public-Private Partnership (PPP) projects, enhancing project quality and efficiency while improving public service supply levels [1][2]. Group 1: Guidelines for Existing PPP Projects - Approximately 70% of existing PPP projects have entered the operational phase, making their operational status crucial for the quality and efficiency of public service supply [2]. - The guidelines emphasize adherence to contracts, requiring local governments to fulfill their contractual obligations and manage government expenditure responsibilities within budget [2][3]. - The guidelines advocate for cost reduction and efficiency improvement, encouraging localities to streamline projects and innovate operational models to enhance professional management [2][3]. Group 2: Focus on Under-Construction Projects - For ongoing projects that have already commenced, the guidelines stress the importance of ensuring their completion and timely realization of initial investments [3]. - Projects that have not started by the end of 2024 will generally not adopt the PPP model, with alternative implementation methods suggested for necessary projects [3]. - The guidelines categorize existing PPP projects into three types: fully government-funded, feasibility gap subsidy, and user-paid projects, with the first two requiring government subsidies [3][4]. Group 3: Financial Management and Support - The guidelines highlight the need for local governments to incorporate PPP-related expenditures into budget management and to utilize various funding sources, including special bonds and local funds, to support project operations [4]. - Local governments are urged to take on primary responsibilities and coordinate resources effectively to ensure the smooth operation of existing PPP projects [4].

2023年11月，国家相关部门推出了PPP新机制，将PPP模式范围缩窄至基于使用者付费特许经营模式， 同时也要解决存量PPP项目中存在的问题。对此，业内专家评论称：在一揽子化解地方政府债务风险方 案陆续出台的大环境下，PPP适用范围会大幅"瘦身"，对现有的PPP存量项目也会进一步规范。 此次指导意见出台可以看出三个重要指向：地方政府要量力而行，处理存量项目要突出"双效"（效率和 效益），要进一步增强履约意识（这里称之为"一诺"）。 指导意见强调，地方政府要根据经济社会发展需要、项目性质和财力状况，按照轻重缓急合理排序，优 先实施具有一定收益的项目，持续保障项目建成完工。 同时，对推进缓慢的项目，要进一步论证建设内容，研究压缩实施规模、优化建设标准、调整配套建设 内容等，减少不必要建设成本，原则上不得超出已核定概算总投资。 越是进展缓慢的项目，越是投资的"无底洞"。在这方面，无论是地方政府还是社会资本，都要有"断舍 离"的决心和勇气。当然，"断舍离"要建立在法制化、市场化的基础上。 在规范PPP存量项目建设和运营中，地方政府是关键因素，量力而行是基本原则。 指导意见明确，要强化地方政府债务管理，地方政府通过发行 ...