China established its first national assets trading platform for public private partnership (PPP) on February 28 in northern port city of Tianjin.

The PPP assets trading and management platform was jointly founded by China Public Private Partnerships Center under the Ministry of Finance and Tianjin Financial Assets Exchange.

The platform will provide PPP consulting, planning, bidding and supervision services for local governments, to facilitate private capital to join PPP projects, said Ding Huamei, president of the exchange.

After three years of practice, PPP has become an important tool for local governments to maintain growth, adjust economic structure, advance reforms, benefit the people and prevent risks, said Jiao Xiaoping, director of the center.

By the end of 2016, the China PPP integrated information platform had admitted 11,260 projects, with a total investment of 13.5 trillion yuan ($1.96 trillion). Among them, 1,351 projects were signed to enter into the implementation phase, involving an investment of 2.2 trillion yuan.

(Xinhua News Agency February 28, 2017)