NDRC vows to aid private investment
Print Edition
China will continue to unveil measures and policies to spur private investment, which is expected to boost economic development and create jobs, the country’s top planning agency said yesterday.
Private investment, which has taken an increasingly bigger share in the country’s fixed asset investment in recent years, jumped 23.4 percent to hit 11.56 trillion yuan (US$1.86 trillion) in the first half of 2013. It accounted for 63.7 percent of the total FAI in China, compared to 61.4 percent by the end of last year, the National Development and Reform Commission said in a statement on its website.
“The NDRC and local governments will create a better environment and offer favorable policies to support private investment,” the NDRC said.
In 2011, private investment accounted 60.3 percent of total FAI, compared to 55.9 percent in 2010.
China needs other engines to fuel its economy amid lower-than-expected growth in exports and consumption because of the unstable global economic environment, analysts said.
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