BEIJING, July 19, 2016 (Xinhua) -- Chinese Premier Li Keqiang presides over a national conference on social investment in Beijing, capital of China, July 18, 2016. Chinese Vice Premier Zhang Gaoli also attended the conference. (Xinhua/Pang Xinglei)
BEIJING, July 19 (Xinhua) -- Chinese Premier Li Keqiang has urged efforts to boost social (private and mixed-owned) investment by "removing obstacles, improving the environment and expanding room for development."
He made the remarks at a national conference on social investment on Monday, according to an official statement released Tuesday.
Boosting effective investment will have a wide range of influences, including promoting consumption and creating jobs, said the premier.
The government should guide social investment to "weak areas," including infrastructure, public services and emerging sectors, and prevent the flow of funds to industries with too much capacity or high levels of pollution.
The government should continue to streamline administration, overhaul market regulation and optimize services, said Li.
Authorities will widen market access for social investment and eliminate discrimination. They will lower taxes, cut fees and reduce financing costs for enterprises.
Li also asked governments to repay their debts to companies.
China will improve and promote public-private partnership (PPP), which is long-term cooperation between governments and private companies on projects, which are mainly funded and operated by the companies and supervised by governments.
PPP will continue to be used in infrastructure construction and will also be introduced in education, medical treatment and elder care.
Official data showed last week that China's fixed-asset investment grew 9 percent in the first half of 2016, down from 9.6 percent in the first five months and 10.7 percent in the first quarter.
More notably, private investment increased 2.8 percent in the first half, down from 3.9 percent in the first five months and 5.7 percent in the first quarter.
China eases investment rules in free trade zones
BEIJING, July 19 (Xinhua) -- The Chinese government has decided to ease investment rules in four free trade zones (FTZs), temporarily allowing foreign investors to found wholly-owned enterprises in a number of fields,including iron and steel production and gas station operations, according to the central government website on Tuesday.
The resolution on temporary adjustment of regulations for administrative approvals in the Shanghai, Guangdong, Tianjin and Fujian FTZs was passed by the National People's Congress Standing Committee, it said. Full story
China vows investment, financing reform
BEIJING, July 18 (Xinhua) -- China will overhaul its investment and financing system to stimulate market vitality amid the economic downturn, according to a document released Monday by the central authorities.
The government will cut red tape, improve supervision and encourage enterprises to invest, said a guideline jointly released by the Communist Party of China Central Committee and the State Council. Full story