This year marks the 20th anniversary of Dayue Consulting. For the past two decades, we have been committed to improving the urban construction and management efficiency and influencing China's economic and social development, and have always persisted in taking PPP as our main business. We have completed 600+ PPP projects in total, and 500+ in-progress PPP project consulting contracts, involving a total investment of more than 1 trillion yuan. In the first and second batches of PPP demonstration projects launched by the Ministry of Finance and the first and second batches of sponge cities and underground pipe gallery pilot projects launched by the Ministry of Housing and Urban-Rural Development and the Ministry of Finance, the participation rate by Dayue Consulting was up to more than 30%.

China is advancing the structural supply-side reform. After profound reform, the whole society will fully realize upgrading and transformation. PPP has become an important starting point for this reform. In the past decade, the land finance and platform-based loans on which China's economic development depends lagged development. PPP has become one of the follow-up drivers, providing financial support for economic and social development, but also improving the efficiency of the whole society and promoting the modernization of national governance. Today, China's development is moving from urbanization to new urbanization. The task of building urban supporting facilities, underground facilities and environmental protection facilities is far more arduous than the development of real estate. All PPP projects are required to be standardized and smoothly implemented, but also the reform tasks of the fee system, financial system, administrative system and so on are very complex. While China sets high expectations for PPP, all walks of life are embracing the huge challenges encountered by PPP.

Jin Yongxiang

November 5, 2016