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Efforts to rein in risky PPP projects pay off

By Chen Jia in Beijing and Yuan Hui in Hohhot | China Daily | Updated: 2018-05-15 07:58

The central government's efforts to cool down local government debt growth with a six-month clampdown on illegal joint fundraising activities by the public and private sectors have delivered results, said the Ministry of Finance.

Nearly a quarter of the approved public-private partnerships projects, an investment model based on cooperation between government and private companies, had been suspended by April 23, following a nationwide investigation, said the Ministry of Finance.

The ministry said that 1,695 PPP projects, worth a total of 1.8 trillion yuan ($284 billion), had been shut down, while a further 2,005 projects worth 3.1 trillion yuan had to be "rectified". Around 6,400 PPP projects were registered with the ministry before the clampdown started last November.

Efforts to rein in risky PPP projects pay off

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