Research On The Problems And Countermeasures Of The Local Government In Promoting PPP Projects In China

The 14 th Five-Year Plan(2021-2025)and the Long-Range Objectives Through the Year 2035 propose to strengthen the guarantee of basic public services,accelerate the development of infrastructure,public health,municipal engineering,public security,agriculture and rural areas,ecological environmental protection and other fields,propel the construction of new infrastructure,urbanization,transportation and water conservancy and other major projects,promote the coordinated development of urban and rural areas,and give full play to the role of government investment,attract private capital investment and form a market led investment endogenous growth mechanism.The demand for infrastructure construction and public services in China is growing.Under the traditional mode,China’s infrastructure and public services are mainly supplied through direct government investment,issuance of local government bonds and other ways,but these ways have the problems of tight government financial resources,limitation of local government bonds,and many difficulties in the later operation and management of the project.The Public-Private Partnership(PPP),which can not only provide project construction funds,reduce government expenditure pressure,but also improve project construction and operation quality,stands out in a variety of supply models.However,with the continuous promotion of the PPP model,more and more problems that restrict the normative development of PPP are gradually emerging,urging to conduct in-depth analysis and research,and propose corresponding countermeasures and suggestions to improve the quality and efficiency of infrastructure and public service supply.This paper introduces the definition of PPP model,classification of PPP model,participants in PPP projects and other related concepts,as well as the main measures taken by local governments to push forward PPP projects and the results achieved.With the help of Public Goods Theory,Principal-agent Theory,new Public Service Theory,applying quantitative analysis,literature analysis,comparative analysis and other research methods,this paper studies and puts forward the problems that local governments in China have in promoting PPP projects,such as imperfect regulations and policies,inadequate policy implementation,imperfect regulatory mechanism,discusses the causes of the problems,proposes the countermeasures and suggestions of improving laws,regulations and policy systems,conscientiously implement policies,and improvement of supervision mechanism.Disadvantages: First,the degree of information disclosure is not high enough,the data sources are limited,and the official data published by relevant departments are not comprehensive and systematic enough,which affects more in-depth analysis of the project.Second,how to promote the PPP normatively in the absence of the upper law needs to be further studied and discussed in the future work.