This report takes the combination of special bonds and PPP model as the starting point，based on the combination of theory and practice，introduces the role and positioning of PPP and special debt，and puts forward the necessities of the combination of PPP and special bonds；according to the framework design and path，this paper discusses the case application in detail，lists the main forms and advantages and disadvantages of the combination of PPP and special bonds，summarizes the problems existing in the combination of PPP and special bonds and their solutions，and strives to make a breakthrough in the combination development of government investment and financing policies in theory and practice.