China to encourage private investment
Print Edition
CHINA aims to encourage private investment in infrastructure construction and advanced industries to counter the effects of a slowing economy, said the National Development and Reform Commission in a report yesterday.
The government will push for proactive fiscal policies to boost private investment, and also ease entry thresholds for private capital in infrastructure and social construction in electricity, telecommunication, transport, oil and gas, health care, and education.
Meanwhile the government will also prioritize advanced industries such as energy saving and intelligent manufacturing to attract investment.
To spur the development of these industries, taxes will be cut for relevant startups and subsidies will be provided to high-tech companies to support research and development.
“Encouragement of private investment and efforts to foster advanced industries will be pushed simultaneously to boost investment in them,” the report said.
The NDRC, the top economic planner, also said the government will push banks to offer low-interest loans to prominent small and medium firms as well as urge private investors to support them.
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