China lures private investment into infrastructure

The government will open more infrastructure projects not listed in the statement, the NDRC said.

Xu said that the 80 projects will be trials in attracting social capital, used to map out laws and regulations.

China is in transition, seeking a new growth model less reliant on exports and investment and more on domestic consumption. As a result, growth has slowed steadily over the past two years to 7.4 percent in the first quarter of this year.

Xu said that more private investment will stabilize the economy but consumption and exports can not do much in a short time.

The projects will also help with overcapacity in industries like steel, cement and glass, Xu said.

The private sector accounted for 63 percent of fixed-asset investment last year, according to the National Bureau of Statistics.

Government departments should simplify review and approval procedures and step up supervision to create a fair environment for competition, the NDRC said.

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