China’s economic chiefs open new doors to private investors to bring sector back to life
- Transport, water and clean energy are among the areas now open to private players, National Development and Reform Commission (NDRC) says
- Authorities also promise to better allocate credit and bridge information gaps
In a push to revive ailing business activity, China’s top economic planner has identified a series of industries and key state projects now open to private investment.
Releasing the “white list” on Monday, the National Development and Reform Commission (NDRC) said the sectors included transport, water, clean energy, new infrastructure, advanced manufacturing and modern mechanised agriculture.
The NDRC will also draft “a project recommendation list”, promising clear investment returns for private capital.
“In May, local development and reform commissions submitted more than 2,900 investment projects [to the NDRC] for the consideration of private investors, with a planned investment of about 3.2 trillion yuan (US$445 billion),” Luo Guosan, head of the NDRC’s investment department, said in Beijing.
[We] will strive to maintain the share of private investment in the country’s fixed asset investment at a reasonable level
The agency will also share data with other departments to carry out corporate credit assessments, and bridge information gaps between banks and enterprises to better allocate credit to private investors.