Veolia formed a joint venture with Tianjin Water Works in 2007, in the form of a partnership between the municipality and the private sector, provided necessary capital for the development of Tianjin’s water industry and set a successful example for China in transferring state-owned assets to private actors. Through Veolia’s involvement and investment, advanced technology and innovation are introduced into China, encouraging better management and improved operational efficiency, incentivizing enterprises to improve water quality, ensure steady water pressure, replace aging pipes, reduce leakage, as well as maximize public welfare.
