Defense guideline targets private investment

Defense-related industries will open more to private investors in a "fair and safe manner", according to an investment guideline unveiled on Thursday.

Investors and State-owned defense technology enterprises will be treated equally across the board, including licensing and tax, said the guideline, jointly crafted by the State Administration of Science, Technology and Industry for National Defense and the General Armament Department of the People's Liberation Army.

The guideline, however, only applies to private investors on the mainland.