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Regulating local government financing vehicles and public-private partnerships in China /
In this paper, we argue that there is much room for China to strengthen its regulatory framework for public-private partnerships (PPPs). We show that infrastructure projects carried out through local government financing vehicles (LGFVs) were largely unregulated PPPs, and significant fiscal risks ha...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
[2016]
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| Colección: | IMF working paper ;
WP/16/187. |
| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Cover; Contents; I. Introduction; II. Background; A. Why are LGFVs a Fiscal Issue?; B. How do LGFVs Work?; C. What is the Link between LGFVs and PPPs?; III. Policy Response and Issues; A. Policy Response; B. Issues with the New Measures; IV. International Best Practices on PPPs Regulation and Implications for China; A. Good Project Selection; B. Good Institutional Framework; C. Good Laws; D. Good Accounting and Reporting; V.A Strategy to Establish a PPP Regulatory Framework in China; VI. Concluding Remarks; References; Tables.
- 1. Selected PPP Regulatory Documents Issued by the Chinese Government Since 20132. Comparison of Three Framework Regulatory Documents Issued by the Chinese Government on Public-Private Partnerships with International Best Practice; 3. A Potential Gateway Process for China; Figures; 1. Government Managed-fund Income from Land Usage Right Transfer in China; 2. Local Government Financing Vehicle as the Project Contractor; 3. Local Government Financing Vehicle as the Project Owner; Appendixes; 1. Examples of Local Government Financing Vehicles in China; 2. A Primer on PPPs.
- 3. International Public Sector Accounting Standard 32 (IPSAS 32)4. IMF Proposal of Disclosure Requirements for PPPs and Guarantees; Appendix Figures; 1. Traditional Public Procurement versus Public-Private Partnership; 2. NPV: Government Procurement versus PPP; 3. IPSAS 32 Illustrative Examples.