Aerial photo taken on May 9, 2021 shows a patchwork of salt fields in Gangxi Township, Rongcheng, east China's Shandong Province. (Photo by Li Xinjun/Xinhua)
BEIJING, May 18 (Xinhua) -- East China's Shandong Province recently issued a document containing 24 measures to promote high-quality and efficient development of public-private partnership (PPP) projects, reported Shanghai Securities News Monday quoting Dazhong Daily.
The document requires new PPP projects to consider factors such as the government's comprehensive debt ratio and financial affordability, scientifically design implementation plans, carry out value-for-money evaluations, and tighten warehousing check and other processes.
The document also proposes to strengthen dynamic oversight and efficiency tracking of projects by improving project transparency, as well as purchasing, performance, contract fulfillment and risk management, among other measures.
It also clarifies that projects that fail to fulfill related contracts in time or rectify its problems will be rejected.
The document requires that projects that have no substantive progress for more than one year or have unregulated operations, etc. should be withdrawn in accordance with relevant policies.
It also emphasizes the scientific application of PPP in serving the major strategic deployment and key reform tasks of Shandong, as well as key fields like medical care and health,new infrastructure and new urbanization initiatives and major projects, and rural vitalization.
Besides, financial departments at all levels of the province will create a better environment for the regulated and high-quality development of PPP projects by improving the communication and coordination mechanism among the participating parties, carrying out project promotion and financing connection services, etc.
(Edited by Wang Yuhang, Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)
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