China’s powerful National Development and Reform Commission (NDRC) issued a new official document on October 13, encouraging private businesses to invest in more domestic fields.
Following on from earlier policies, the government plans to further loosen restrictions on private entry to fields previously fully or largely controlled by State-owned enterprises, including civil aviation, gas and oil exploration, electric power, and national defense-related technologies.
In public services like healthcare and education, the document emphasizes improving public-private partnerships and facilitating private investment by simplifying approval procedures and grant investors access to funds and land. The document also promised more support for small-and-medium enterprises through bank loans and the approval of more private banks.
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