China's Ministry of Finance has rolled out 30 projects to private investors on Thursday to seek capital through public-private partnerships.
The projects opened amounts up to 180 billion yuan ($29.3 billion) and include sewer systems, water and heat supplies, garbage disposal, medical care, sports and facilities, and other infrastructures in urban areas.
Foreign and domestic investors alike are welcome to be involved in the establishment and operation of the new projects as China is making efforts for better public service and lower spending of the government.
PPP is a partnership between private firms and governments in building and operating public services and infrastructures. The private companies fund the projects, while governments oversee them.
The State Council released last week a guideline regarding financing and investment. The guideline emphasizes PPP's significance in the movement of private capital.
PPP has been used as a funding method since the 1980s, but public funds from the government are the main sources for financing the development of urban infrastructure for the past decades.
However, the increasing scale of investments needed for the projects exceeds the limits of government finance.
"PPP will help broaden financing channels for urbanization and cut local government spending," said MOF finance researcher Sun Jie.