China's first privately-owned high-speed railway, the Hangzhou-Taizhou high-speed railway, is set to begin operation on Saturday. The project was constructed via China's Public-Private Partnership (PPP), which involves collaboration between the government and private sector that can be used to finance, build and operate projects.

In recent years, China has explored funding public works through PPP models to reduce local government debts and give opportunities to private capital. CGTN's Wang Haiyang reports.