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China to break 'glass door' for private investors

Updated: 2012-03-06 10:06


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BEIJING - China's top economic planner on Monday vowed to remove harmful obstacles keeping the country's non-public investments out of the market, saying detailed regulations are being mulled.

In response to Premier Wen Jiabao's call for relaxing restrictions on market access for private capital, Zhang Ping, minister in charge of the National Development and Reform Commission, said relevant policies would come out in the first half of this year.

"Last year, our fixed asset investments grew by 23.8 percent, but the growth rate of private investment stood at 34 percent," Zhang said at a press conference during the ongoing national parliamentary session.

The central government issued a 36-article circular in 2010 to boost private investments, encouraging and guiding private capital into certain sectors and industries.

Zhang acknowledged the existence of a "glass door" or "swinging door," or invisible policy hurdles, that have constantly impeded the entry of private investments in certain industries.

In a government work report on Monday, Wen said China would encourage non-governmental investment in areas such as railways, public utilities, finance, energy, telecommunications, education and medical care.