China's PPP industry is at an early stage of development. Therefore, there is no
sufficient successful experience to form a unified operation paradigm in the industry.
This research is conducting a multi-dimensional literature review and selecting 50
successful factors of PPP projects that have been recognized internationally. At the
same time, a survey was conducted among experts or practitioners of PPP in China.
Through a series of descriptive analysis, deviation test, correlation analysis, a four-
dimensional PPP success factor matrix that runs through the five implementation
processes of the PPP project was established. It was found that financing related and
project cooperation related success factors are generally considered to be relatively
important. SOEs and POEs have a deep understanding in the actual operation of PPP
projects. At the same time, PPP practitioners with a professional background in
investment management and construction management have a higher level of
consistency with that of the sample. However, the 50 success factors in this study have
low correlation with each other, and the statistically significant combination of success
factors still needs empirical research to further verify.
