The Legal Regulation Of Information Disclosure In Public-Private Partnership Of China

Since 2014, China has set off a new upsurge of Public-Private Partnership. However,The Legal Regulation of information disclosure in PPP have many problems. Information asymmetry problem which is between government, social capital and the public is very prominent.The practices of information disclosure in PPP are still lagging behind. Information disclosure in PPP lacks of content.It is not beneficial to safeguard the interests of public and social capital.Therefore,the demand of full disclosure of information, sound and effective legal regulations of information disclosure in PPP become increasingly urgent.Law comes from practice.The legal system of information disclosure in PPP should be on the basis of practical development and constantly balance the interests of information disclosure related parties, in order to get the institution of solving the problem of information asymmetry.Then, it contributes to promote the PPP project to run well.In order to establish and form good system of information disclosure in PPP, it is necessary to be based on the highly variable reality, to be in accordance with the special nature of the legal system of information disclosure in PPP, and to introduce the theory of Information asymmetry, and to improve the legal framework and specific rules of PPP information disclosure. So, it will be propitious to realize the standardization, rationalization and systematization of information publicity in PPP.This paper has three parts except the Introduction and Conclusion:The first part discusses the necessity and particularity of regulation of information disclosure in PPP. The necessity of regulation of information disclosure in PPP is that it could safeguard public interest, overcome the drawbacks of self supervision of government,promote the degree of social capital participating in PPP. Due to the diversification of the main body of information, the increasing of information content, the complexity of the main body of information interests, information disclosure in PPP become difference.These are the reasons of particularity of subject, contents and procedures of information disclosure in PPP.The second part analyses the problems and its reasons which is born within legal regulation of information disclosure in PPP. Firstly, it analyses the subject of information publicity, the way of information disclosure, the range of information disclosure, the trade secrets and so on. And then searches for the legal problems in PPP. The Legal problems are mainly manifested in the rules of information disclosure are not perfect. Finally, the problemsof legal regulation of information disclosure in PPP lie in legal provisions respond to the dual role of our government insufficiently and the restraint of the current economic system transformation on law enforcement.The third part discusses the better alternative of legal system of information disclosure in PPP. Firstly, it increases the incentive mechanism of the special subject of information disclosure in PPP. Secondly, it defines the scope of information disclosure in PPP. Thirdly, it is to improve the definition of the scope of trade secrets and a system for examining. Fourthly,it is to clarify the way of information disclosure in PPP. Fifthly, it is to clarify the supervision mechanism of information disclosure in PPP. Sixth, it is to clarify the legal responsibility of information disclosure in PPP.