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Private investment is regarded as a significant indicator for measuring the domestic motivation of China's economic growth. The People's Bank Of China says the country's private investment grew by more than 30 percent in the first quarter, a new high since December 2008.
The central bank's report also shows that the growth of investment from state-owned or state-holding enterprises was about 20 percent in the first quarter, nearly 10 percent lower than that of private investment. This is the first time the increase of private investment has outpaced investment from state-owned or state-holding enterprises.
The rapid growth of private investment indicates that it's playing a bigger role in China's economy.