Dear Vice Chairman ZHANGWenxian [of China Law Society],
Dear Director General SunXiaoxia [of Department of Finance, MOF],
Ladies and Gentlemen,
I am delighted to be here today, addressing the InternationalSeminar on the Legal Institution of Public and Private Partnerships. Thisfinancial year, the China PPP Centre and British Embassy have been working on aone-year project on PPP Experience Exchange and Best Practices Promotion. Andtoday I am very pleased to see the successful cooperation between the twocountries.
For the past few years, PPP has become a very prevalent topic inChina. We have witnessed the rapid development of PPP policy frameworks andinstitutions. UK as the first country to carrying out a major programme of PPPprojects, the Embassy, together with the Infrastructure UK – UK’sinfrastructure authority, has been working closely with the Chinese authoritiesto support the PPP development in China.
Last April, our experts from Infrastructure UK published a set ofthree technical reports on ‘PPP in China: an International Perspective.’ We arehappy to see that the reports reached out to Chinese officials andpractitioners at the central, provincial and municipal levels.
We have also seen high-level political supports from both countriesin promoting UK-China cooperation in this area. Last September, during theseventh UK-China Economic and Financial Dialogue, co-hosted by the UKChancellor George Osborne and the Chinese Vice Premier Ma Kai, the two leadersco-hosted a session dedicated to PPP. Vice Premier Ma Kai noted that severalimportant factors for success. These included the important of a strong legalframework that will contribute to a stable investment environment, the need forgovernment support, innovative sources of finance and a large pool of highcalibre personnel.
With support from leaders and ministers from both countries, the UKTreasury and the Ministry of Finance of China signed up a Memorandum ofUnderstandings on PPP. Both countries committed to promote the use of the PPPmodel in the development and implementation of infrastructure and the deliveryof public services in China and the UK.
In the Golden Era of China-UK relationships, we are delighted to seethe successful implementation of the one-year project of the Embassy and theChina PPP Centre and the convening of this concluding seminar. I look forwardto seeing that the discussions today, the experts from both countries -officials, business representatives and leading scholars, can all contributefurther to the PPP development in China, and to the successful projectimplementation between the public sector and the private sector in China. Also,I hope to see closer cooperation between the UK and China in the implementationof infrastructure, in China and in the UK, as agreed in the Memorandum ofUnderstandings.
Looking ahead, I am glad to say that the Ministry of Finance, ChinaPPP Centre, and the UK Treasury and the British Embassy in Beijing are workingtogether on a long-term PPP training programme between the two countries. Wewould hope to facilitate expertise sharing between the two countries, also to offerthe international experience and lessons learnt by the UK to the Chinese officialsand practitioners, thus to bring the cooperation to the next stage, to addressthe challenges and to bring together the supply and demand. I am confident thatthe policy communication and the project cooperation would benefit bothcountries, as we always say, a win-win outcome.
Dear guests, PPP experts, thank you for joining us today in theseminar and share your thoughts. Also thanks to the China PPP Centre in pullingoff the event. With the commitments of the two countries, with the continuoussupports of the Prosperity fund of the British Embassy, I look forward toseeing the ambitious development of PPP in China, and even closer bilateralcooperation of UK and China. Thank you.