People work on the construction site of a power transformer project in Shenyang, northeast China's Liaoning Province, May 11, 2022. (Xinhua/Yang Qing)
BEIJING, May 25 (Xinhua) -- China has detailed measures to put infrastructure and other existing assets to better use, as part of efforts to boost effective investment and reduce government debt risks.
According to a guideline released on Wednesday by the State Council, China's cabinet, the healthy development of infrastructure real-estate investment trusts (REITs) will be promoted, and a multi-level infrastructure REITs market will be established.
The mobilization of existing assets through public-private partnership projects will be encouraged, the guideline said.
It also noted that efforts will be made to promote the transformation of idle assets, developing new functions such as elderly and child care, leisure tourism and community services.
Policy incentives will help funnel funds raised from mobilizing existing assets to key projects such as integrated transportation and logistics hubs, large clean energy bases and environment protection infrastructure, the guideline said.