July 20 2023

China unveils measures to encourage private investment

China's top economic planner unveiled detailed measures to encourage private investment further as the country moves to revive the private economy.

The document, issued by the National Development and Reform Commission (NDRC), stressed fully recognizing the significance of promoting private investment and pledged efforts to maintain the share of private investment in fixed asset investment at a reasonable level.

The NDRC said it would particularly recommend that private investment go into a selected number of industrial segments with great market potential and in line with national strategies and industrial policies from sectors like transport, water conservancy, clean energy, new infrastructure, advanced manufacturing, and modern facility agriculture.

A catalog of recommended investment projects will be created, and a platform will be set up to introduce such projects to private investors, according to the NDRC.

The NDRC also pledged to improve financial assistance for private investment projects and ensure the support of other resources like land supply. Private investment projects are encouraged to issue Real Estate Investment Trust (REIT) products, it said.