The Regulation on Infrastructure and Public Utility Concessions, recently approved by the State Council and collaboratively released by the National Development and Reform Commission, Ministry of Finance, Ministry of Housing and Urban-Rural Development, Ministry of Transport, Ministry of Water Resources, and People's Bank of China, will come into effect on 1 June 2015.The Regulation comprises 8 chapters and 60 articles and contains detailed regulations concerning the entire process, from project initiation, selection of the concessionaire, terms of the concession contract, operation, variation and termination of the concession agreement, supervision and administration by the public sector during the concession period, dispute resolution and the legal liability of the relevant parties.