China's top economic planner has announced a list of 80 projects inviting social capital in its latest step to woo non-public funds to infrastructure investment.
The move to open projects in five industries to private and foreign investors is also aimed at injecting more vitality into the country's economy.
The list, published on the website of the National Development and Reform Commission (NDRC) on Wednesday, covers construction and operation projects of railways, roads, harbors, wind power stations as well as oil pipelines.
The opening of such sectors to social capital is to speed up reforms in investment and financing schemes and diversify investment sources in the country, the NDRC said in a statement.
Most of the industries, such as natural gas storage and distribution and production of photovoltaic equipment for solar power, coal, railways and port operations, used to be dominated by state capital and off-limits for private and foreign investors.
Social capital, particularly private investment, is welcomed and encouraged to participate in the construction and operation of such facilities through joint ventures, wholly-funded entities or franchise businesses, the NDRC said.
The government will open more infrastructure projects not listed in the statement to accelerate the country's economic restructuring, the NDRC said.
The opening of those projects is good for optimizing investment structure and promoting a sustaining and healthy economy, the NDRC said.
Government departments should simplify review and approval procedures and step up supervision to create a fair environment for competition, it added.
China is in a transition period seeking a new growth model that is less reliant on exports and investment and more on domestic consumption.
As a result, economic growth has slowed steadily over the past two years. The growth rate eased to 7.7 percent last year and decelerated further to 7.4 percent in the first quarter of this year.
The private sector accounted for 63 percent of China's fixed-asset investment last year, according to data from the National Bureau of Statistics. Endi
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