THE country will allow the private sector more access to China’s mixed ownership reform by further easing investment restrictions, Xinhua reported, quoting a top official.

The country will promote a series of projects in the transport, energy, ecology and environmental protection industries, giving private businesses a “clear investment return mechanism,” Ning Jizhe, deputy head of the National Development and Reform Commission, was quoted as saying.

China will introduce a negative list for market entry, an evaluation system and tax cuts in a bid to improve the environment for private businesses.

Ning also pledged more pilot areas, better use of private capital and improved supporting policies to facilitate private businesses’ participation in the mixed ownership reform projects.

The Shanghai branch of the People’s Bank of China also said it will soon introduce a bond financing support tool for selective private enterprises, according to a press release.

Each year, the country will publish a list of promotion projects for private businesses, with follow-up support and services.

Apart from reducing administrative approvals, China will continue to remove hidden obstacles for private capital to enter key sectors, reinforcing financing support for private investment, he said.

Ning said China has implemented pilot reforms of mixed ownership in the sectors of electricity, oil, gas, railway, aviation, telecom and the military.

China’s private investment has maintained a steady rise at a rate of above 8 percent so far this year, accounting for about 60 percent of the country’s total investment, Ning said.

(SD-Agencies)