China to allow private investment in 80 projects
Beijing to allow private sector to bid on 80 projects as part of privatisation reform
China will allow private investment in 80 projects spanning the energy, information and infrastructure sectors as part of reforms to increase privatisation, said Premier Li Keqiang, amid signs Beijing will not use forceful stimulus measures to fight any short-term dips in economic growth.
The 80 projects involving solar energy, hydro power, wind power, and oil and gas pipelines - previously areas monopolised by the state - will be open to public tender, Li said. In future, other sectors such as utilities, airports and oil and gas exploration will also be open to more private investment, he told a weekly cabinet meeting. His comments were posted on a government website and no further details were provided.
A top mainland government official was quoted by state news agency Xinhua as saying that China will not use forceful stimulus measures to fight any short-term dips in economic growth.
Li Pumin, secretary of the National Development and Reform Commission, was quoted as saying that macro-economic policies would not change as long as inflation was under control and employment and economic growth stayed above a minimum level.
Last November, president Xi Jinping unveiled sweeping reforms to encourage private participation in state-owned enterprises (SOE's), which include some of the world's largest companies.
Allowing more private investment in China's centrally planned economy is part of the government's plans to reduce state intervention and let market forces play a bigger role.