China's public-private partnership (PPP) project construction has entered the "fast lane" and will become a unified, standardised, transparent market, a government research office said.
As of the end of June, there were 13,554 projects nationwide with investment of US$2.4 trillion, according to data from the China Public Private Partnerships Center, the official Xinhua news agency said on Sunday.
More than 34 per cent of projects had reached the implementation phase, it said.
"Our country's public-private partnership project construction has enter the fast lane, an active period," Xinhua cited Wang Yiming, the deputy director of the state council development research centre, as saying.
But Mr Wang warned that as more projects moved from construction to operations, more risks were exposed, such as excessive financing that has led to high financial leverage and debt-to-capital ratios, and impractical projects in rural areas.
In recent years, the government has tightened controls on new local government debt to help ward off risks following a borrowing binge since the global financial crisis.
Authorities have also vowed to prevent local governments from using public-private partnerships, government investment funds and government procurement services as "disguised channels" for raising debt.
The state council, China's cabinet, has said resolving local debt risks was important to ensure the country's economic and fiscal sustainability and financial safety.
China's total private and public debt has exceeded 250 pe rcent of GDP, up from 150 per cent before the global financial crisis, according to the OECD.
* Reuters
Huroob Ezterari
Director: Ahmed Moussa
Starring: Ahmed El Sakka, Amir Karara, Ghada Adel and Moustafa Mohammed
Three stars
Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital
Essentials
The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes.
Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes.
In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes.
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.
The bio
Studied up to grade 12 in Vatanappally, a village in India’s southern Thrissur district
Was a middle distance state athletics champion in school
Enjoys driving to Fujairah and Ras Al Khaimah with family
His dream is to continue working as a social worker and help people
Has seven diaries in which he has jotted down notes about his work and money he earned
Keeps the diaries in his car to remember his journey in the Emirates
The UAE squad for the Asian Indoor and Martial Arts Games
The jiu-jitsu men’s team: Faisal Al Ketbi, Zayed Al Kaabi, Yahia Al Hammadi, Taleb Al Kirbi, Obaid Al Nuaimi, Omar Al Fadhli, Zayed Al Mansoori, Saeed Al Mazroui, Ibrahim Al Hosani, Mohammed Al Qubaisi, Salem Al Suwaidi, Khalfan Belhol, Saood Al Hammadi.
Women’s team: Mouza Al Shamsi, Wadeema Al Yafei, Reem Al Hashmi, Mahra Al Hanaei, Bashayer Al Matrooshi, Hessa Thani, Salwa Al Ali.
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