China unveils measures to promote private investment
inputtime: 2016-10-20 14:32:10
BEIJING - China's top economic planner said Wednesday it has unveiled a raft of policies topromote the healthy growth of private investment.
The National Development and Reform Commission (NDRC) released the policy document,which contains 26 measures aimed at promoting investment growth, improving financialservices, reducing corporate costs and updating administrative services.
"At present, government departments and local authorities are striving to implement thosepolicies in order to make private investment stabilize and recover," the NDRC said.
In the first eight months of this year, private fixed-asset investment rose only 2.1 percent year onyear in real terms, much lower than the 8.1-percent growth for national overall fixed-assetinvestment during the same period, according to data from the National Bureau of Statistics.
The government will further relax market access to private capital and encourage investment incivil airports, telecommunications, oil and gas exploration, electricity, as well as national defensetechnology, the document showed.
China will also facilitate private capital's participation in the social service sector, expand thepublic-private partnership (PPP) model and build an online investment project approval andsupervision platform, according the document.
The government will create a plan for local governments to repay their debts, including debts tocompanies for construction projects and government procurement, it added.
The document also includes policies to streamline procedures and reduce fees, improve thelegal framework and lower the financing costs of private companies.