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China urges government branches to jointly boost private investment
2010-07-28 13:21:40Source:People′s Daily OnlineAuthor:
China's State Council recently released a notice defining the tasks and responsibilities of the central and local governments to encourage the sound development of private investment in order to better implement the central government's policies to boost private investment.
The National Development and Reform Commission, the Ministry of Commerce, the Ministry of Finance and several other government branches will shoulder the related responsibilities and tasks.
In order to encourage and guide private investments to flow into nine industrial categories, the notice defines 40 tasks, with one to nine departments taking responsibility for each task.
The nine investment fields are basic industries and infrastructure; urban public utilities and low-income housing; social undertakings; financial services; trade flows; national defense industries; enterprise reorganization and the reform of state-owned enterprises; restructuring and indigenous innovation of private enterprises and their "going-out" for international competition.
Experts believe that under the current economic situation, the encouragement and guidance of private investments is favorable to perfect China's socialist market economic system, give full play to the fundamental role of the market in resource allocation and the stable and fast development of the economy in the long-run.
Since the release of policies to boost private investment in May, private capital has begun to step into the related industries.
Recently, the National Energy Board approved six private enterprises to participate in the national strategic petroleum reserve, and private capital was also injected into commercial aircraft management services.
"This indicates that the national policies do indeed encourage private capital," said Wang Zhongming, deputy secretary general of the All-China Federation of Industry and Commerce and head of Chinese Research Society for the Development of the Private Sector.
The National Development and Reform Commission, the Ministry of Commerce, the Ministry of Finance and several other government branches will shoulder the related responsibilities and tasks.
In order to encourage and guide private investments to flow into nine industrial categories, the notice defines 40 tasks, with one to nine departments taking responsibility for each task.
The nine investment fields are basic industries and infrastructure; urban public utilities and low-income housing; social undertakings; financial services; trade flows; national defense industries; enterprise reorganization and the reform of state-owned enterprises; restructuring and indigenous innovation of private enterprises and their "going-out" for international competition.
Experts believe that under the current economic situation, the encouragement and guidance of private investments is favorable to perfect China's socialist market economic system, give full play to the fundamental role of the market in resource allocation and the stable and fast development of the economy in the long-run.
Since the release of policies to boost private investment in May, private capital has begun to step into the related industries.
Recently, the National Energy Board approved six private enterprises to participate in the national strategic petroleum reserve, and private capital was also injected into commercial aircraft management services.
"This indicates that the national policies do indeed encourage private capital," said Wang Zhongming, deputy secretary general of the All-China Federation of Industry and Commerce and head of Chinese Research Society for the Development of the Private Sector.
