China to Expand Scope to Private Investment in Several Key Sectors
The State Council is planning to expand their scope of private investment in several key sectors this will include transportation and telecom as part of the council’s measures to support the slow economy. Considered as the second larget economy in the world the Chinese economy grew at its slowest pace since the financial crisis which led them to risk missing their official target for the first time in fifteen years.
During a meeting that was chaired by Premier Li Keqiang with the State Council and China’s Cabinet that help in deciding on China opening up their doors to more areas that are intended for social investment especially the private capital sector. Furthermore China promised to support essential telecom enterprises to help attract private strategic investors. China will also seek to push investment in port, rail, airport, river transport and water projects and to guide private capital investment in internet broadband, national civil space infrastructure an construction.
By doing this it is expected to expand China’s economy to 7.4 percent for this year, just missing the 7.5 annual target of the government as they try to derive to a more future growth from consumer demand rather than depending in exports. China will also open up more State dominated sectors to private investors to further boost the economy.