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China to encourage private investment

05-14-2010 09:40 BJT

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In the meantime, China will encourage private investment in fundamental industries like transport, water, oil, natural gas, power, mining and telecommunications.

The State Council made the announcement in a statement, on its website today. It says the scale of private investment will be expanded, and that Government investment should be restricted to sectors relating to state security and a few other industries.

The statement also suggests private investment will flow into public affairs sectors, housing construction and the healthcare industry. Financial services, trade, and national defense technology industries are also recommended for private investment. The cabinet stressed the importance of private capital in reforming SOEs. The state council also encourages private enterprises to speed up upgrades so that they can better compete in the international arena.

Editor:Zhang Jingya |Source: CCTV.com

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