The model in which the government cooperates with private enterprises to complete a certain project (referred to as PPP) can enable the government to obtain funds, and also allow social capital to enter the fields of public utilities such as electricity and railways  The problem in this model is that the government defaults or the investors default and cause economic losses to the other party  In previous PPP projects, government default was not a small probability event
Although local government defaults are not uncommon, investors are still actively investing in PPP projects
This year, the National Development and Reform Commission released 80 important projects to encourage social capital to participate in construction and operation through PPP and other means