China invests 500 million yuan in public-private partnerships: Xinhua

October 5, 2016 2:26 AM EDT

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BEIJING (Reuters) - China has given out 500 million yuan in subsidies this year to support public-private partnerships (PPP), the official Xinhua news agency said on Wednesday, citing the state's top planning body.

The National Development and Reform Commission said the funding supported 703 PPP projects totaling 1.2 trillion yuan, Xinhua said, and included investments in energy, transportation, water conservation and environmental protection.

China's government is keen to lure private capital to infrastructure projects to alleviate the debt burden of local authorities, and has promised policies to support PPPs.

(Reporting by Sue-Lin Wong; Editing by Vyas Mohan)

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