Steps to lift investment mooted
Print Edition
CHINA will take targeted measures to counter the slowdown in private investment, the top economic planner said yesterday, including reducing fees and relaxing market access.
The National Development and Reform Commission’s remarks follow a drop in private investment growth, which rose 3.9 percent year on year in the first five months, slowing from a 5.2 percent rise in the January-April period.
Poor implementation of government policies, high operational costs, house rent and taxes, and pressure from the de-capacity drive have been blamed for the drop, said to Li Pumin, spokesperson for the NDRC.
To help reverse the trend, the government must take strong measures, Li said.
“We should make all-out efforts to promote innovation and entrepreneurship, and encourage private enterprises to start new businesses and explore investment opportunities,” Li said.
He also encouraged private firms to tap the opportunities afforded by mixed-ownership reform and the public-private partnership push.
Private investment took up 62 percent of all investment in the first five months, data from National Bureau of Statistics data showed on Monday.
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