China allows private capital into government-led projects

From: Xinhua Updated: 2014-04-24 09:44
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BEIJING, April 23 (Xinhua) -- China will allow private capital to fund some infrastructure and energy projects that were previously dominated by the government and state-owned enterprises, according to an official statement issued on Wednesday.

The move aims to accelerate reform of the country's investment and financing mechanism and to push forward the diversification of investing entities, said the statement, released after a State Council executive meeting presided over by Premier Li Keqiang.

In the first batch, the government will roll out 80 pilot projects in several fields, including transportation infrastructure, new-generation information infrastructure, major clean energy projects, oil and gas pipelines, coal, chemical and petrochemical industries.

The projects will be open to public bidding, and the government encourages the participation of private capital in the construction and operations of those projects through joint ventures, sole proprietorship and franchise.

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