Chinese Railways: the government pushes the private sector to participate in state rail projects

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Chinese Railways
Chinese Railways

Chinese Railways projects to be pushed toward the private sector by the state government.

A reform masterplan released after a key plenum of the Communist Party of China Central Committee in November pledged to let market play a decisive role and recognized the private sector’s role in fostering growth and creating jobs.

Non-state capital will be allowed to participate in several projects in different areas, such as Chinese Railways and Telecommunications, resources development and public utilities, according to the report.

Foreign investors will have more opportunities to invest in Chinese state projects and state-owned enterprises

“We will formulate measures for non-state capital to participate in investment projects of central government enterprises” Li said at the opening of the annual session of the National People’s Congress. The government pledged to reform the Chinese Railways investment and financing system, and to open competitive operations in more areas to encourage full participation of private capital.

This to be considered a historic agreement for the country, given the political orientation of the government.

Source: www.china.org.cn



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