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Beijing courts private investors for USD591.5bn in projects


China's National Development and Reform Commission (NDRC) is soliciting private investment for over 2,900 local government projects valued at CNY3.2tr (USD591.5bn). These efforts aim to stimulate the declining economy and foster positive business sentiment. Key sectors targeted include transportation, water conservation, clean energy, and modern agricultural facilities. This push follows Beijing's recent commitment to improve business conditions, which have been hit by stringent pandemic controls and regulatory crackdowns. However, the NDRC's moves are not expected to immediately impact business confidence due to the typical project preparation time and the current 53% share of private investment in overall fixed assets. The NDRC intends to keep this ratio at a “reasonable level”.

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