State Council: Encourage Private Investment To Do Not Explicitly Prohibit Industry

Xinhua news agency, Beijing, May, 13, China's Government Network released 13 opinions on encouraging and guiding the healthy development of private investment. The opinions encourage and guide private capital to enter basic industries and infrastructure, municipal public utilities and policy oriented housing construction, social undertakings, financial services and other fields.

"Encourage and guide private capital to enter industries and areas where laws and regulations do not explicitly prohibit access." The opinions clearly put forward that the investment threshold should be set up to create a fair competition and equal access to the market environment. Market access standards and preferential support policies should be open and transparent. They should be treated equally for all kinds of investment entities, and no additional conditions should be set up for private capital.

"In the general competitive field, we need to create broader market space for private capital." The opinion put forward that state-owned capital should focus on strengthening and consolidating important industries and key areas related to the lifeline of the national economy. Government investment is mainly used in the economic and social fields related to national security and the inefficient allocation of resources by the market.

The opinions clearly encourage and guide private capital to enter basic industries and infrastructure, municipal public utilities and policy housing construction, social undertakings, financial services, commerce and circulation, and defense science and technology industries. We should encourage and guide private capital restructuring and joint participation in the reform of state enterprises, actively participate in international competition, and promote private enterprises to enhance their independent innovation and transformation and upgrading.

"Clearing and modifying regulations and policies that are not conducive to the development of private investment, earnestly protect the legitimate rights and interests of private investment, and nurture and maintain an equal competitive investment environment." The "opinion" requires increasing the financing support for private investment and strengthening the financial services for private investment. We should comprehensively clean up and integrate administrative examination and approval matters involving private investment management, simplify links and shorten the time limit.

The opinions stressed that all regions and departments should put more emphasis on encouraging and guiding the healthy development of private investment. We should further emancipate our minds, change our concepts, deepen reform, innovate truthfully, study and formulate specific implementation measures, implement relevant policies and measures as soon as possible, and strive to create a policy environment conducive to the healthy development of private investment and the atmosphere of public opinion.

As pointed out in the "opinion", further encouraging and guiding private investment is conducive to stimulating the endogenous driving force of economic growth, stabilizing the foundation for sustainable development, and promoting the long-term and steady and rapid development of the economy, which is conducive to expanding social employment, increasing household income and stimulating domestic consumption.

Http://www.3158.cn/list/fz/? Site=sjfzxm