Tourists admire the skyline view of Lujiazui area at the Bund in Shanghai, east China, Jan. 6, 2020. (Xinhua/Wang Xiang)
BEIJING, Nov. 29 (Xinhua) -- Many provinces in China have seen growth in private investment in the January-October period this year driven by improved business environment and policy incentives, with ten of them even witnessing double-digit year-on-year growth in such investment, reported Shanghai Securities News Monday.
Data from the National Bureau of Statistics (NBS) showed that from January to October this year, China's private investment grew by 8.5 percent year on year, with the two-year average growth standing at 3.8 percent.
Private investment in some provinces has improved markedly. According to the Henan Province Bureau of Statistics, during the first ten months this year, the private investment in Henan increased by 4.8 percent, 0.3 percentage point higher than that in the first three quarters.
The continuous recovery of domestic and overseas demands, the great improvements in the profits and operating conditions of private enterprises, and the strong government support for manufacturing, especially high-end manufacturing, are the main factors driving the improvement in private investment, said Luo Huanjie, a senior researcher with Zhixin Investment Research Institute, a Shanghai-based think tank.
To further invigorate private investment, many regions are mulling to formulate new measures to boost private investment, including lowering the threshold for market access, innovating ways of investment and financing, etc.
North China's Hebei province recently issued ten measures regarding fiscal guidance and financial support for the development of the real economy, and proposed the implementation of equity investment fund rewards to increase social capital investment.
Central China's Henan Province has set up an investment fund of 150 billion yuan for emerging industries and a venture capital fund of 15 billion yuan to guide social capital to actively support the development of science and technology enterprises and industries.
(Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)
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