China inspects local gov'ts after private investment slowdown
Updated: 2016-07-29 09:15
(Xinhua)
|
||||||||
BEIJING - China's cabinet said Thursday that inspectors had been dispatched to seven provinces and municipalities that reported huge but markedly slowed private investment.
The inspection teams consist of officials from the National Development and Reform Commission and other relevant departments, according to a notice from the State Council.
The regions to be inspected are Beijing, Liaoning, Anhui, Shandong, Henan, Hubei and Qinghai.
China saw fixed-asset investment by the private sector increase 2.8 percent in the first half of the year, down from 3.9 percent in the first five months and 5.7 percent in the first quarter.
A State Council executive meeting last month revealed that during official surveys in May some local governments were found to have failed to fully implement the pro-private investment measures.
Private firms were treated unfavorably, having difficulty raising funds and suffering from heavy financial burdens, according to the surveys.
The inspection will identify outstanding problems and push local governments to take effective measures to support private investment, the State Council said Thursday.
Authorities should improve government services, widen market access and create a level playing field for private investors.
The private sector generates about 60 percent of China's GDP and around 80 percent of jobs. Private fixed-asset investment accounts for more than 60 percent of the total.
The inspection teams consist of officials from the National Development and Reform Commission and other relevant departments, according to a notice from the State Council.
The regions to be inspected are Beijing, Liaoning, Anhui, Shandong, Henan, Hubei and Qinghai.
China saw fixed-asset investment by the private sector increase 2.8 percent in the first half of the year, down from 3.9 percent in the first five months and 5.7 percent in the first quarter.
A State Council executive meeting last month revealed that during official surveys in May some local governments were found to have failed to fully implement the pro-private investment measures.
Private firms were treated unfavorably, having difficulty raising funds and suffering from heavy financial burdens, according to the surveys.
The inspection will identify outstanding problems and push local governments to take effective measures to support private investment, the State Council said Thursday.
Authorities should improve government services, widen market access and create a level playing field for private investors.
The private sector generates about 60 percent of China's GDP and around 80 percent of jobs. Private fixed-asset investment accounts for more than 60 percent of the total.
- S. Korea to launch WWII 'comfort women' victims foundation
- China to become Australia's biggest tourist source market
- Patient shoots, kills doctor in Berlin then kills himself
- One of church attackers tried to join IS in Syria
- China's coal usage may peak by 2020, experts say
- Bavarian bomber pledged allegiance to Islamic State
In pictures: Aerial images of Rio's Olympic venues
Images reveal distinctive Tunpu culture in Guizhou
Ten photos from around China: July 22 – 28
Welcome back, daddy!
Sweat, hard work and pain: Life of model
Top 10 most profitable companies in the world
Exhibition showcases Chinese artworks in London
In pics: Cool ways to beat the heat wave
Most Viewed
Editor's Picks
![]()
|
![]()
|
![]()
|
![]()
|
![]()
|
![]()
|
Today's Top News
Ministry slams US-Korean THAAD deployment
Two police officers shot at protest in Dallas
Abe's blame game reveals his policies failing to get results
Ending wildlife trafficking must be policy priority in Asia
Effects of supply-side reform take time to be seen
Chinese State Councilor Yang Jiechi to meet Kerry
Chinese stocks surge on back of MSCI rumors
Liang avoids jail in shooting death
US Weekly
![]()
|
![]()
|