China Plans to Open Up More Industries to Private Investors
- Sectors like oil, gas drilling to be opened to private firms
- Plan comes as private investment growth slows to record low
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China will open sectors including oil and gas drilling to private capital to counter record-low investment growth by non-state firms.
"Political barriers" for private investment will be removed to offer a fair playing field and encourage non-state companies to take part in 165 projects outlined in the country’s 13th five-year plan, said Hu Zucai, vice chairman of China’s National Development and Reform Commission, the government’s top economic planning body.