Abstract
Due to the accumulation of its budget deficit following the Asian financial crisis, the Hong Kong government, inspired by the success of public–private partnerships (PPPs) in the UK and Australia, has introduced PPPs for the delivery of public services and infrastructure (Smith 2004). PPP schemes, as part of the government’s Private Sector Involvement (PSI) initiative, are expected to deliver quality infrastructure projects with more involvement from the private sector. This chapter presented a general background of PPP establishment in Hong Kong. A summative review of the past and present PPP projects was given. The chapter also explored the opportunities for expanding PPP services and identified the trends and lessons learned from experiences.
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- 1.
- 2.
This section summarized with modification some discussion of PPP for railway projects by Chan (2017) in the 10th APEC Transportation Ministerial Meeting.
- 3.
- 4.
According to Xinhua Finance Agency (2015), the proposed multilateral bank has an authorized capital of $100 billion, 75% of which comes from Asian and Oceania countries. China is the single largest stakeholder, holding 26% of voting rights. The bank started operation by year end of 2016.
Abbreviations
- AA:
-
Airport Authority
- AIIB:
-
Asian Infrastructure Investment Bank
- APEC:
-
Asia-Pacific Economic Cooperation
- AWE:
-
Asia World-Expo
- BFA:
-
Boao Forum for Asia
- BOO:
-
Build-own-operate
- BOOT:
-
Build-own-operate-transfer
- BOT:
-
Build-operate-transfer
- CWTC:
-
Hong Kong Chemical Waste Treatment Center
- DBFO:
-
Design-build-finance-operate
- DBO:
-
Design-build-operate
- EU:
-
Efficiency unit
- FC:
-
Franchises and concessions
- JV-WMI:
-
Joint ventures and wider market initiatives
- NENT:
-
North East New Territories Landfill
- OBOR:
-
One belt one road initiative
- PCI:
-
Partnership companies and investments
- PFI:
-
Private finance initiatives
- PPP:
-
Public–private partnership
- PRD:
-
Pearl river delta
- PSI:
-
Private sector involvement
- SENT:
-
South East New Territories Landfill
- WENT:
-
West New Territories Landfill
- WKCD:
-
West Kowloon Cultural District
- WKR:
-
West Kowloon Reclamation
- XRL:
-
Guangzhou-Shenzhen-Hong Kong Express Rail Link
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Acknowledgements
This work was supported by The Education University of Hong Kong under a departmental research grant. The author wishes to thank his research and student assistants for their outstanding assistance on this work.
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Cheng, E.W.L. (2019). Public–Private Partnerships for Critical Infrastructure Development: The Hong Kong Experience. In: Clark, R.M., Hakim, S. (eds) Public Private Partnerships. Competitive Government: Public Private Partnerships. Springer, Cham. https://doi.org/10.1007/978-3-030-24600-6_11
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