Announcing a series of 'huge' projects, China seeks to attract private capital

Nearly 5,000 major projects with a total investment capital of about 730.42 billion USD have just been announced by China in an effort to attract private investment.

Skyscrapers in Shanghai, China's financial center. (Source: CNN)

To invigorate private investment, China's economic planning agency announced on September 8 that it plans to launch 4,894 major projects to actively attract private capital.

According to China's National Development and Reform Commission (NDRC), these projects have a total investment of about 5,270 billion yuan (about 730.42 billion USD).

According to the NDRC, these projects are mainly related to urban construction, agriculture and tourism. If distributed by region, there are 2,213 projects, 1,020 projects, 1,497 projects and 164 projects in the eastern, central, western and northeastern regions of China, respectively.

Previously, on September 4, China established an agency under the NDRC to promote the development of the private economy.

The main tasks of this agency are to monitor, research and analyze the development of the private economy, coordinate and organize the formulation of policies and measures to promote development, and introduce policies to stimulate the growth of private investment.

The agency will also be tasked with establishing a mechanism for regular dialogue with private enterprises, coordinating efforts to address major issues related to the development of the private economy, and enhancing the sector's competitiveness in the international arena.

China has recently issued a series of policies to promote the growth of the private economy. Liu Jun, deputy director of the State Administration for Market Regulation, said that in order to optimize the business environment for private companies, the agency is continuing to strengthen law enforcement and control, standardize market order, ensure fair trade operations, and further promote the protection of intellectual property rights.

The Chinese government is making efforts to create an environment of equal competition among economic sectors, creating conditions for private enterprises to participate more and more deeply in investing in key national projects.

Source: https://baoquocte.vn/cong-bo-loat-du-an-khung-trung-quoc-tim-cach-thu-hut-dong-von-tu-nhan-241480.html