Abstract: PPP model includes the three elements of private sector investment, licensing authority of private projects and risk sharing of both sides. Partnership relations, benefits sharing and risk sharing are basic features of PPP model. As the investment and financing mechanism needed to deal with public products supply, PPP model has become the general international practice. In some foreign countries such as Britain, Australia, Canada, the PPP model has been widely used with remarkable achievements and then have gained many successful experiences, which provide referential meaning to the improvement of China's PPP model. Learning from successful experiences of other countries, China needs to improve relevant laws and regulations as soon as possible, and establishes specialized PPP project management organizations and explores diversified PPP models according to local conditions. It is also necessary to construct risk-sharing mechanism of PPP model and strengthen regulation system of "bidirectional regulation". With the above mentioned measures,China can promote sound and sustainable development of PPP model.

Key words: public products, PPP model, project management, private sector investment, financing mechanism