The State Council on Wednesday publicly acknowledged that growth in private investment was on the wane, vowing to buoy the key sector of the economy.
It also said it would roll out incentives for people to rent homes, a move that could reduce the country’s stock of unsold flats.
The State Council said private investment was important for the economy, job creation and new growth, but had slowed recently.
It said it was committed to countering the slowdown by introducing various “strong measures”, such as expanding market access and levelling the playing field for the private sector.
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Beijing would send inspection teams to targeted areas to check on implementation of policies designed to encourage private investment, it said. The policies were unveiled in 2014 and third parties would also be invited to assess their effectiveness.
Private investment grew by 5.7 per cent in the first quarter from the same time last year, but that was down sharply from a rise of 10.1 per cent at the end of last year and a rise of 6.9 per cent in the first two months, according to official data.