China to let private funds into defense
Print Edition
CHINA will open its defense sector to private enterprises by relaxing market access for military products.
Measures will include lowering market access requirements, reducing approval procedures, improving the pricing mechanism for military products and taxation policy, said the People’s Liberation Army’s General Armament Department.
The department said it will open a website for military procurement, regularly publicizing information on the demand for weapons and other equipment.
It will strive to ensure fair market competition to encourage private enterprises to participate in the research, production and maintenance of military equipment.
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