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China has issued new guidelines to spur private investment. /CFP
China's top economic planner has identified several key sectors to focus on to spur private investment as part of the country's renewed efforts to bolster private sector growth.
The National Development and Reform Commission (NDRC) said in a Monday notice it was targeting areas including transportation, water conservancy, clean energy, new infrastructure, advanced manufacturing, and modern agriculture.
To address concerns over funding difficulties for private enterprises, the NDRC pledged to establish a priority project catalog. It also introduced measures to optimize financing support for private investment projects.
These moves come as private fixed-asset investment slipped 0.2 percent year on year in the first half of 2023, despite total fixed-asset investment increasing by 3.8 percent in the same period.
China's State Council last week emphasized the importance of invigorating the private sector, and announced measures including plans to optimize the country's business environment and improve the allocation of private capital for major infrastructure projects.
The NDRC has also pledged to ensure the support of other resources for private investment projects, such as the utilization of land supply. It is encouraging private investment projects to issue real estate investment trust (REIT) products to further incentivize more private investment.
More: BizBeat Ep. 691: China helps private sector in bid to boost confidence
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466