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Govt checks implementation of measures to boost private investment

(Global Times)

09:01, December 28, 2012

Private investment accounted for 62 percent of China's total investment in the first 11 months, up 2 percentage points from the same period of last year, the State Council said in a statement on the government's website Thursday.

Private investors dominate the sectors of agribusiness, manufacturing, wholesale and retail, hotels and restaurants, and property development, and actively invest in new energy, new materials, and public utilities construction, the cabinet said, citing its latest findings.

However, the State Council's inspection team found that private investors do not get equal treatment in some areas, and some local governments provide little support.

The inspection team was sent to verify the implementation of government measures to boost private investment in State-controlled sectors including public service, utilities, financial service and national defense technologies. The measures were enacted in May 2010 in a bid to bolster the nation's economy.

The team was composed of 13 people from various government agencies led by the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the Ministry of Supervision. It made field visits to six provinces including Jiangsu, Henan, and Guangdong.

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