Bertrand Du Marais, Counsellor of State, Conseil d’Etat, France; Chair, FIDES Think Tank and Fellow, CRDP, University of Paris Nanterre. I wish to thank all the participants of the Beijing “International Seminar on PPP Legislation” (11 October 2017) of the China University of Political Sciences and Law for their comments, and especially its organiser, Prof. Claire-Li Zhang for her invitation. The views expressed in this paper are solely the author’s and do not express the position of any of the institutions to which he belongs.