China ramps up private investment plans

Aerial photo taken on Aug 19, 2020 shows wind turbines in Jiucaiping scenic spot in Southwest China's Guizhou province. [Photo/Xinhua]

China will ramp up support to encourage private companies to invest in 102 major projects covering areas such as transportation, energy and infrastructure, the country's economic regulator said on Monday.

It marks the country's latest move to further improve the policy environment to encourage the development of private investment.

The National Development and Reform Commission said in a notice it will select projects with certain levels of revenue and with relative maturity among the 102 major projects planned in the 14th Five-Year Plan period (2021-25), and attract private capital through various means.

NDRC said it will speed up the development of selected transportation and water conservancy projects, and treat private investment equally in the bidding process. It will support private enterprises to participate in the construction of railways, highways, ports, terminals and related stations and service facilities.

It will also encourage private investment to participate in key projects, especially urban infrastructure, increase investment in energy conservation and carbon reduction areas such as solar power generation, wind power generation, biomass power generation and energy storage.

It also encourages key projects invested by private companies to expand employment capacity.