Abstract: In view of the characteristics of PPP projects, such as long cycle, high risk and numerous participants, this paper analyzes the weaknesses existing in the current contract management mode in PPP projects. Starting from the incompleteness of PPP project contract, multi-subjectivity of the project and the objective reality of limited rationality of partners, this paper explores the establishment of friendly cooperative partnership among all participants of PPP project. Based on the analysis of the meaning, characteristics and forming process of the traditional PPP project partnership, the new PPP project cooperative management model is introduced:the partnering model is to make up for the problems existing in the current management mode. And the specific connotation, formation, operation process and operation mechanism of partnership mode are studied. Finally, taking a municipal sewage treatment plant project as an example, this paper illustrates the application of partnership model and its operation mechanism in PPP projects.

Key words: PPP project, the incompleteness of the contract, partnering model, public infrastructure construction, publicprivate partnership