Build, baby, build. Public private partnerships, or PPP, in which private firms co-invest with local governments to build and operate public facilities, are making a comeback. The theme in the first three months centered on canceling local projects. However, torn between the unenviable dual task of curtailing debt and sustaining GDP growth, the finance ministry has few other options. Local governments are responsible for 90 percent of China’s infrastructure projects but lack reliable sources of income.

Source: Washington Post August 26, 2018 06:56 UTC