PPP模式外文文献翻译分解.ppt

PPP application in infrastructure development in China: Institutional analysis and implications;;1.introduction; Over the past two decades, the Chinese government has been embarking on an ambitious programme of large investments on infrastructure development. To facilitate urbanization in China, the funds required for urban infrastructure development during the first 20 years of the twenty-first century are expected to be around 3500–5000 billion RMB (Wu, 2007). Funds from government alone are unlikely to be available to finance such large investments and so, reforms need to be undertaken by the Chinese government regarding the investment and financing of infrastructure projects. PPP was thus introduced in China to alleviate this problem (Chan et al.,2009; Feng and Luo, 1999; Ge and Zhang, 2009; He, 2001;Wang, 2006). ;In fact, PPP, in its modern form, was applied in China in the late 1980s, first in industrial development projects,and later other sectors, particularly infrastructure. According toth e World Bank (2013), 1 the total number of infrastructure projects with private participation from 1990 to 2012 reached 1064 in China, ranking first worldwide, with a total investment commitment being 119,330 million US dollars, ranking fourth worldwide, after Brazil, India and Russian Federation. ; China is characterized by unique political, economic and cultural features (Buderi and Huang, 2006; Mu et al., 2011; Tan and Bian, 2013). Before the 1980s, China adopted a pure socialist economy, highly centralized and planned. Infrastructure investment and development was the sole responsibility of the government. With the introduction of PPP in its infrastructure development, and considering the complexity of such economic transactional activities, the PPP practice in China has become a focus of study by scholars in recent years, particularly with regard to PPP risks (e.g. Cheung and Chan, 2011; Ke etal., 2010; Song et al., 2013; Wang et al., 1999),potential problems(e.