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China Daily Website

Private investment encouraged

Updated: 2012-07-31 10:31
By Zheng Yangpeng ( China Daily)

China's government said on Monday that it would introduce a number of projects to allow private investment in areas dominated by State-owned enterprises.

The announcement, made after an executive meeting of the State Council, said the country must "introduce some projects as soon as possible to allow private investment in the railways, public utilities, energy, telecommunications, financial, health and education industries".

The move comes a week after the National Development and Reform Commission, China's top economic planning agency, and other central ministries, issued 42 new rules to attract private investment and remove barriers.

The NDRC admitted on Friday that there are differences between the new rules and public expectations, and vowed to take concrete measures to boost investor confidence.

"The cabinet meeting urged several regions and government departments to take candid and effective measures to implement policies to create an environment that is fair, transparent and predictable to all market players, including private ones," the statement said.

The government will study and solve the questions raised by private investors, such as lack of clarity in entry rules, and standards and conditions for private capital. It also promised further overhauls of the administrative examination and approval system.