China is launching 287 infrastructure development projects worth around 1 billion yuan (US$157.4 million). All will be open to private investment, Chinese state-run news agency Xinhua reported on Wednesday.
The Deputy Director of China’s National Commission for Development and Reform, Zhang Yong, said – as quoted by Xinhua – the aim is to boost private sector involvement in improving public services and facilities.
The list of projects includes the building of highways, railways, airports and energy facilities.
Xinhua further reported that the Chinese authorities on Monday published some guidance on the nation’s fresh approach to private investment, involving also investment from overseas.
It included China’s proposed new “negative list” identifying sectors that will be off-limits for private investment and due to come into force on December 1 in selected parts of the country.
A pilot phase for the latest negative list is due to run until December 2017. If successful it will be extended across the whole country in 2018, Xinhua reported.
China in September announced a series of measures to attract inward investment, including from foreign entities. The country’s previous policy has been to run a shorter list mentioning only those sectors can receive private backing. This has limited capital inflow, Portuguese news agency Lusa reported at the time.
China’s economy expanded by 6.9 percent in the third quarter. It was the slowest rate in more than six years.