Over the past three decades, there have been many comprehensive studies related to public–private partnerships (PPP), but the analysis at the macro level still lacks comprehensiveness and interpretability. Through the application of bibliometric analysis, 2-mode network, and strategic coordinate analysis, we systematically analyzed the derivative characteristics of the literature data and the coupling characteristics of countries and keywords. Moreover, through the frequency and betweenness centrality, etc., this paper determines the evolution path of keywords and the evolution direction of theme words and realizes the prediction of theme words and keywords in the future. The results show that: (1) Through the three-stage biclustering analysis, we determined the hot theme words and hot keywords for each stage and focused the theme direction and main research content of the evolution, which led to great interpretability of the data analysis in the literature characteristics; (2) Through the distribution characteristics of time and space, the USA, China, the UK and other mainstream publishing countries and their main research hotspots were determined. Among them, developing countries have strong willingness in academic cooperation and great potential for academic development; (3) According to the derivative characteristics of the literature data, it is predicted that the future research hotspots are: the integration of business economy and sustainability, the integration of policy support and innovative technology application, and the urbanization promotion of developing countries. Based on the findings, this study makes concrete and targeted research methods and provides reference value and application value for the future research and analysis of PPP.