Evolution and prospects of the public-private partnership model in China

In order to ensure the standardized operation and high-quality development of PPP, in November 2023, the General Office of the State Council of China issued the “Guiding Opinions on the Standardization of the Implementation of the New Government-Social Capital Cooperation Mechanism”. The document explains the general requirements, implementation standards, operational supervision and policy guarantees of the new cooperation mechanism, and opens a new chapter in the high-quality and standardized development of government-business cooperation under the new circumstances. Based on the history of the development and current status of the PPP model, this article interprets the document in detail, systematically analyzes the differences between the new and old cooperation mechanisms, and puts forward directions and suggestions for the future development of the PPP model in China.