Premier Li De­mands Ef­forts To Boost So­cial In­vest­ment

WILL HAVE A RANGE OF IN­FLU­ENCES GOOD FOR DE­CI­SION-MAK­ING

Fiji Sun - - World News - Xin­hua Feed­back: jy­otip@fi­jisun.com.fj

Chi­nese Premier Li Ke­qiang has urged ef­forts to boost so­cial (pri­vate and mixe­downed) in­vest­ment by “re­mov­ing ob­sta­cles, im­prov­ing the en­vi­ron­ment and ex­pand­ing room for de­vel­op­ment.” He made the re­marks at a na­tional con­fer­ence on so­cial in­vest­ment on Mon­day, ac­cord­ing to an of­fi­cial state­ment re­leased on Tues­day.

Boost­ing ef­fec­tive in­vest­ment will have a wide range of in­flu­ences, in­clud­ing pro­mot­ing con­sump­tion and cre­at­ing jobs, said the premier. The gov­ern­ment should guide so­cial in­vest­ment to “weak ar­eas,” in­clud­ing in­fra­struc­ture, pub­lic ser­vices and emerg­ing sec­tors, and pre­vent the flow of funds to in­dus­tries with too much ca­pac­ity or high lev­els of pol­lu­tion. The gov­ern­ment should con­tinue to stream­line ad­min­is­tra­tion, over­haul mar­ket regulation and op­ti­mise ser­vices, said Mr Li. Au­thor­i­ties will widen mar­ket ac­cess for so­cial in­vest­ment and elim­i­nate dis­crim­i­na­tion. They will lower taxes, cut fees and re­duce fi­nanc­ing costs for en­ter­prises. Mr Li also asked gov­ern­ments to re­pay their debts to com­pa­nies. China will im­prove and pro­mote pub­lic-pri­vate part­ner­ship (PPP), which is long-term co-op­er­a­tion be­tween gov­ern­ments and pri­vate com­pa­nies on projects, which are mainly funded and op­er­ated by the com­pa­nies and su­per­vised by gov­ern­ments.

PPP will con­tinue to be used in in­fra­struc­ture con­struc­tion and will also be in­tro­duced in ed­u­ca­tion, med­i­cal treat­ment and el­der care.

Of­fi­cial data showed last week that China’s fixed-as­set in­vest­ment grew nine per cent in the first half of 2016, down from 9.6 per cent in the first five months and 10.7 per cent in the first quar­ter. More no­tably, pri­vate in­vest­ment in­creased 2.8 per cent in the first half, down from 3.9 per cent in the first five months and 5.7 per cent in the first quar­ter.

Photo: Xin­hua

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