China's NDRC unveils series of measures to promote private investment growth

China's National Development and Reform Commission (NDRC) said in a document on Wednesday that the authorities have unveiled a raft of policies to promote the healthy growth of private investment in China. China aims to boost private investment by improving financial services for small enterprises.

NDRC released the policy document, which contains 26 measures aimed at promoting investment growth, improving financial services, reducing corporate costs and updating administrative services. The government will further relax market access to private capital and encourage investment in civil airports, telecommunications, oil and gas exploration, electricity, as well as national defense technology, the document showed.

Data from the National Bureau of Statistics showed that in the first eight months of the year, private fixed-asset investment rose only 2.1 percent y/y in real terms, much lower than the 8.1 percent growth for national overall fixed-asset investment during the same period.