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Continuous rapid economic growth in the past two decades places heavy demands on infrastructure facilities in China, which in turn provides attractive but often challenging development opportunities for foreign investors. BOT (build-operate-transfer) type project financing arrangements, such as joint venture BOT, sole proprietorship BOT, build-transfer-operate, and transfer-operate-transfer have been explored, with a number of projects successfully developed in diverse industries. Drawing examples from key landmark projects, this paper provides an overview and analysis of such developments. It provides pointers to improve procurement processes and timely insights into relevant Chinese initiatives, legal structures, foreign investment protocols, various project-financing models, tendering systems, specific procurement procedures, and particular challenges facing BOT-based approaches in China.
Zhang et al. (Thu,) studied this question.