Letter to FT about advising China on public–private partnership
[REF: UK Treasury to advise China on financing public projects, 22/06/15]
The Treasury’s move to advise China on public–private partnerships (PPP) will help meet its huge need for infrastructure. PPP along with advisory, accountancy, insurance, legal and other professional services, are key areas of excellence for the UK and a further reason for our close partnership.
However, as more countries look to establish a PPP framework, it is increasingly evident that there is a no one-size-fits-all mode: each market should look to develop PPP in a way that fits their own requirements, legal framework and economic characteristics.
Getting the right infrastructure in place has made a huge difference to London’s success as a world-leading financial and business centre, though there remain infrastructure areas that still need to be addressed. I will raise our expertise in financial and professional services among the topics during my coming visit to China next month. Helping China secure its own future through well-designed finance for infrastructure will not only help China, but also provide business opportunities for UK based firms.
Mark Boleat, Policy Chairman, City of London Corporation, Guildhall EC2V 7HH