Private capital encouraged in emerging industries
Updated: 2011-08-16 15:44
By Cai Xiao (chinadaily.com.cn)
BEIJING - No threshold should be set when private enterprises invest in China's emerging industries of strategic importance, the National Development and Reform Commission (NDRC) announced in its latest notice.
The emerging industries of strategic importance refer to industries of energy conservation and environmental protection, next-generation IT, biotechnology, new energy, new materials, high-end equipment manufacturing, and clean-energy vehicles.
Apart from requirements for companies to abide by energy conservation and environmental protection regulations, no threshold will be set on the registered capital, investment amount, investment intensity, production capacity, land supply, or procurement for private enterprises.
The notice also announced that private enterprises will now be given equal consideration for public resources such as emerging industry support funds. Local authorities should treat private enterprises and other investors equally when distributing funds and other public resources.
Private enterprises will also be encouraged to set up venture capital and industry investment funds as well as use new financial tools to raise money.
Qualified private enterprises will also get assistance in issuing bonds, getting listed and carrying out new mortgage and guarantee pilots.
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