China encourages private investment in key projects

BEIJING - The National Development and Reform Commission (NDRC), China's top economic planner, said Wednesday that a list of high-profile construction projects will attract private capital.

State-owned enterprises involved in electricity, petroleum, gas, transportation and information programs on the 165 key project list have been encouraged to invite private capital participation through mixed-ownership, the NDRC said in a circular.

It is encouraged to have multi-source capital channels, including fiscal capital, bank loans, private equity industry funds and public-private-partnership (PPP), in an effort to improve project financing efficiency, it said.

The NDRC will further ease entry limitations for sectors including civil airports, basic telecommunication services as well as petroleum and gas exploration and exploitation.

China's top legislature last year approved 165 major projects, covering sectors including technological innovation, industrial upgrades, infrastructure construction, environmental protection and improving people's living conditions.

The projects will be implemented over a five-year period starting in 2016.