Recently, the Ministry of Finance issued the Notice on Further Promoting the Standardized Development and Sunshine Operation of the Government and Social Capital Cooperation (PPP), which further standardized the PPP development path from four aspects: doing a good job in the preliminary demonstration of the project, promoting the standardized operation of the project, strictly preventing hidden debt risks, and ensuring the sunshine operation of the project. In recent years, China's PPP has developed rapidly and has become a large market with more than 16 trillion yuan. Experts believe that promoting the standardized development and sunshine operation of PPP is conducive to expanding effective investment, stabilizing the basic market of economic development, improving the government's regulatory capacity and service level, and promoting the quality and efficiency of public services. The latest data on promoting the standardized operation of projects shows that since this year, 481 new projects have been put into the management base of the national PPP comprehensive information platform, with an investment of 843.7 billion yuan. Since 2014, there have been more than 10000 inbound projects with an investment amount of 16.6 trillion yuan. The cumulative construction projects and investment amount account for about 65% of the number of inbound projects and investment amount, covering transportation, water conservancy construction, ecological construction, environmental protection, elderly care and many other fields. "After years of practice and exploration, the PPP model has become preliminarily mature in China, playing a positive role in stabilizing investment, expanding domestic demand, smoothing circulation and promoting growth. Standardized development and sunshine operation are the inherent requirements for China's PPP cause to step to a new level and turn to a new stage of high-quality development." said Dong Yu, executive vice president of the China Development Planning Research Institute of Tsinghua University. In April this year, the 11th meeting of the Central Finance and Economic Commission clearly proposed that the government and social capital cooperation model should be promoted to develop in a standardized and sunny way, and social capital should be guided to participate in the investment and operation of municipal facilities. Standardized development requires a good "in advance" pass and a full pre project demonstration. How to grasp the main scope of application of the PPP model? The Notice clearly states that PPP mode can be adopted for projects that belong to the public service field, have long-term stable demand, clear return mechanism, reasonable income level, and have operational content, and projects with strong operational attributes and long-term stable operational income can be implemented preferentially. At the same time, the project implementation organization shall, together with relevant parties, do a good job in the preliminary work of project planning, project approval, land use, environmental impact assessment, etc. according to law and regulations, and scientifically prepare the project implementation plan. "Emphasizing the early demonstration of the project is conducive to guiding the government and enterprises to make scientific and reasonable decisions. The Notice requires that local governments should scientifically grasp the scope of application of the PPP model, scientifically prepare project implementation plans, etc., and continue to enhance the scientificity, preciseness and standardization of the government and enterprises in project decision-making by fully completing the early demonstration of the project." Zhou Lanping, partner of Beijing Zhonglun (Shanghai) Law Firm, said. In terms of promoting the standardized operation of PPP projects, the Notice also made a series of clear requirements. For example, with regard to the social capital qualification of PPP projects, which is widely concerned by all sectors of society, the Notice specifies that state-owned enterprises (except listed companies) actually controlled by local people's governments at the prefecture, city, county and district levels can participate in PPP projects on behalf of the government, but not as the social capital party of PPP projects at the same level. Experts believe that to clarify this requirement, on the one hand, from the concept of PPP reform and development, to prevent