State Council Issues Multiple Measures to Promote the Development of Private Investment

On November 3, the General Office of the State Council issued Several Measures on Further Promoting the Development of Private Investment (the “Measures”), setting out thirteen policy initiatives and requiring all regions and departments to strengthen services and standardize administration, which took effect immediately.

The Measures include: encouraging private capital to participate in key projects in fields such as railways and nuclear power and clarifying shareholding ratios; cleaning up access restrictions in the service sector and supporting private enterprises’ participation in concession projects and government procurement; safeguarding the lawful rights and interests of private enterprises in infrastructure fields such as electricity and oil and gas; accelerating digital empowerment and the construction of pilot-scale test platforms; increasing support through central budgetary investment and policy-based financial instruments; requiring Banking Institutions to set annual service targets for private enterprises and improve credit mechanisms; supporting the issuance of REITs for private investment projects; and continuously implementing the “green channel” policy for listing and financing of technology-based enterprises.