China will allow private capital to fund some infrastructure and energy projects that were previously dominated by the government and state-owned enterprises, Xinhua news agency reported Wednesday.
The move aims to accelerate reform of the country’s investment and financing mechanism and to push forward the diversification of investing entities, the State Council was quoted as saying in a statement after a meeting chaired by Premier Li Keqiang.
In the first batch, the government will roll out 80 pilot projects in several fields, including transportation infrastructure, new-generation information infrastructure, major clean energy projects, oil and gas pipelines, coal, chemical and petrochemical industries.
The projects will be open to public bidding, and the government will encourage the participation of private capital in the construction and operations of those projects through joint ventures, sole proprietorship and franchise.
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