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Jiangsu to Open More Sectors to Private Investment
East China's Jiangsu Province has decided to open more sectors to private investment, which is on a rise, according to a provincial senior official.
Over the past two years, the province witnessed an increasing investment from private sector, which has accounted for 40 percent of the province's total investment, statistics show.
But in its 80 investment fields, only 40 are accessible to private capital.
The province is trying to encourage private investment so as to promote the provincial economy, said Pan Yonghe, vice director of the Provincial Development and Planning Commission.
Pan noted that Jiangsu is going to open all industries to private investment except those concerning national security or those that must be monopolized by the government.
The province encourages private capital flows into infrastructure, like communication, water resources, power and telecommunication, and into agriculture, oceanic resources, new and high-tech industries.
Private capital is also encouraged to take part in the reform and reorganization of state-owned enterprises, Pan said.
The province will simplify procedures of approving private investment programs, Pan said.
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