Detailed Plans to Allow Private Capital Unveiled
The government unveiled detailed plans that will allow private capital to be part of major infrastructure projects as the government efforts in supporting a slow economy. In a statement posted on its official websites the National Develop and Reform Commission has listed 80 projects ranging from pipelines, railways, subways, clean energy and telecommunications.
The China State Council have also stated that it will be allowing private investment to participate in the infrastructure projects in other sectors that is long to be dominated by state controlled companies. The list will include the China National Petroleum Corp. liquefied natural gas station in Shenzhen, the subway line 16 in Beijing and the Dalian port crude oil wharf in CHangxing Island. Among the projects also include the construction of Xiamen port Gulei district, the Hangzhou-Nanjing highway expansion and construction of the 4G and 3G telecommunication network.
Private sectors are encouraged to participate as financial partners and hopefully play a big role in the construction and operation of the listed projects. Furthermore the agency said that private interests can take full or partial stakes and these projects are also open to public tenders. China have promised to also invite private investment into State controlled area of the economy as they plan to boost growth.