Central government set to stimulate private investment

China puts great emphasis on the promotion of the non-public sector economy, which contributes approximately 60 percent to the country's GDP, 80 percent of employment, and over 50 percent of total revenue, and will make fresh efforts to boost private investment, said a report released at a news conference of the State Council Information Office on Tuesday.

Private investment registered year-on-year growth rate of 5.2 percent in the first four months of this year, about 7.5 percentage points less than in the same period of last year and 5.3 percentage points less than the overall growth rate in social investment, the report noted.

In response to the recent slowdown in the growth in private investment, the State Council, China's cabinet, sent nine ministry-level teams to conduct a 10-day field inspection in 18 provincial-level regions starting May 20, according to the report.