China to further "stimulate" private investment: report

Key points of Premier Wen's government work report:

• China to control scale of megacities in urbanization drive: Wen
• China to optimize government expenditures: Wen
• Wen suggests new gov't expanding domestic demand
• Wen stresses concrete action in addressing environmental woes
• Facts and figures: China's major development goals for 2013
• China to further 'stimulate' private investment: report
• China to 'firmly rein' in property speculation: report
• China to increase 2013 deficit to 1.2 trillion yuan
• China lowers 2013 inflation target to 3.5 pct
• China keeps 2013 GDP growth target unchanged at 7.5%
• China to continue 'proactive fiscal, prudent monetary' policy

BEIJING, March 5 (Xinhua) -- China will further relax controls over market access for nongovernmental investment and stimulate it, according to a government work report to be reviewed by the annual legislative session.

"In the current stage, the role investment plays in promoting economic growth can not be underestimated, and the share of the governmental investment is decreasing," the report said.

China has both investment capability and investment demand, but the key is to make investment in the needed sectors, optimize the structure of investment, and improve its performance and returns, it said.

China will also strive to foster an environment in which economic entities under different forms of ownership could "compete on a level playing field and enjoy equal legal protection", said the report.

"We should unwaveringly consolidate and develop the public sector of the economy and encourage, support and guide the development of the non-public sector," it said.