Social funds key to stabilize economy
Print Edition
CHINA aims to lower the market threshold and absorb more social capital for state grid, pipelines, clean energy and mineral resources projects, the country’s top economic planner announced yesterday.
The decision is part of the move to fully mobilize social investment and maintain the pivotal role of investment in stabilizing economic growth, said Li Pumin, spokesman for the National Development and Reform Commission.
The NDRC has given out similar urges in the sectors including food, water, transport, environmental protection and elder care last week.
The State Council, China’s Cabinet, issued a guideline on November 26, saying that it will further ease market access to key industries in a bid to spur investment through innovating financing and investment regimes.
Li said easier market access should further break industrial monopolies, reduce market barriers and create a fairer investment environment, so as to rejuvenate the market.
Han Shui, director of the electricity department at the National Energy Administration, said 12 power transmission channels have been planned from west to east, which is expected to cut down the use of 100 million tons of coal per year in China’s eastern areas.
Three of the 12 are now under construction with a total investment of 68.3 billion yuan, which will provide electricity of 90 billion kilowatt-hours every year.
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