China unveils details of private investment support plan

China's government has opened a new range of government-run industries to the private sector, either through investment in existing companies or establishment of new firms.

The government also announced Thursday that it would improve financing services and simplify administrative procedures for private sector involvement in those industries.

Water projects, power generation, mining, and logistics -- currently mainly state controlled -- would be opened to the private sector, said a statement on the central government website, www.gov.cn.

The statement also reiterated the opening of sectors announced at a State Council executive meeting in March, including education, welfare, transport infrastructure, telecommunications and energy, public utilities, scientific and technological programs for national defense, affordable housing construction and cultural industries.

Source:Xinhua
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