500-mln yuan in subsidies will support progress in public-private partnerships

The mainland government will support the development of public-private partnerships with 500 million yuan (US$75 million) in subsidies this year, the Xinhua news agency reports.

The subsidies will span about 700 public-private partnerships valued at 1.2 trillion yuan. The partnerships include projects in energy, transportation, water conservation, environmental protection, civil engineering, health, culture and education, the government-controlled news agency reports.

The subsidies will be directed toward the planning, evaluation, financial consultation and legal matters surrounding public-private partnerships.

The National Development and Reform Commission set aside 500 million yuan last year to support public-private partnerships.