China, UNECE to boost PPP cooperation

BEIJING - China's economic planner on Wednesday announced that it has signed a deal with the United Nations Economic Commission for Europe (UNECE) to boost public-private-partnership (PPP) cooperation.

This is the first time an official Chinese organization has signed such a memorandum of understanding (MoU) with the UN.

Following the MoU, the National Development and Reform Commission will cooperate with the UNECE on PPP research, exchanges, training and practical cases.

According to the MoU, a PPP center will be set up in China to participate in the mapping of PPP standards and boost PPP applications. A forum will be held each year in Qingdao, East China's Shandong province, to boost international exchanges. Training projects will be launched in Shenzhen, South China's Guangdong province.

The PPP model facilitates cooperation between the government and enterprises in using social capital for projects, such as water conservation, transportation and environmental protection.