China to take additional measures to attract private investment

Almaty. August 18. Silkroadnews – China will take additional measures to attract private investment, Malaysian newspaper “The Star” reported.
“China will take more steps to boost private investment, the state planner said on Friday, as policymakers seek to keep growth steady while reducing the economy’s reliance on state spending. A sharp slowdown in private investment last year forced Beijing to rely more heavily on fiscal spending and investment by heavily indebted state firms to hit its growth target”, the report said.
With this it is noted that the government will simplify the procedure for approving investments for private firms and provide “reasonable returns” profit in public-private partnership projects to make infrastructure and utility projects more attractive for private investors. At the same time, financial institutions will be prohibited from setting their own terms when lending to private firms, and local authorities will be asked to create funds to help private firms hedge credit risks.