China’s public-private partnerships (PPPs) grew steadily in 2016 as project operators’ experience and efficiency improved.

A total of 11,260 PPP projects were registered by the end of December, according to a statement released by the China Public Private Partnership Center under the Ministry of Finance.

Among them, 1,351 projects with a total investment of 2.2 trillion yuan were signed.

Geographically, southwest China’s Guizhou province and eastern Shandong province are home to the most projects and investment.

As a means for multi-source financing, PPPs have existed in China since the 1980s, but the adoption of the financing mode had been slow until China released two PPP guidelines in 2014.

In China, PPP operators are encouraged to directly solicit money from the capital market, while social security funds and insurance premiums are allowed to invest in the projects.