Beijing to send teams around nation to check on slowing private-sector investment

The State Council will send supervisory teams to regions with huge but sharply slowing amounts of private investment from the middle of this month in the government’s latest effort to revive the economy.

The move came after fact-finding trips and assessments were carried out in May on how policy on private investment was being implemented.

The aim of the latest initiative is to ensure any problems found are corrected, according to a ­notice published on the government’s website yesterday.

During May’s inspections, private businesses conveyed they faced limited access to markets, resources and public services and also voiced concerns about other long-running problems such as financing and high funding costs.

Beijing urged local governments in the notice to remove discrimination against private capital and set up market rules that were “fair, open and transparent”.

The notice required local authorities to report the results of their self-investigation to the central government by August 15, but it did not specify which regions would be involved.