Chongqing signs PPP projects for the third year

Chongqing signed 34 Public—Private—Partnership (PPP) projects on July 1.

The projects include high-speed railways, bridges, stadiums, smart city development and municipal administration.

Huang Qifan, mayor of Chongqing, said the city initiated PPP project reform and set its baseline principles, direction and risk prevention in 2014.

Chongqing's PPP reform, a leading one in China, has promoted the city's infrastructure construction, lowered the government's debt, developed the mixed ownership economy and transformed the government's functions.

Weng Jieming, Chongqing's executive vice mayor, and Chen Lvping, Chongqing's deputy mayor were also present.