Pri­vate in­vestor bar­ri­ers to be re­moved

The Star Malaysia - - World -

BEI­JING: Pri­vate in­vestors will be en­cour­aged to play a big­ger role in up­grad­ing the man­u­fac­tur­ing sec­tor as China steps up ef­forts to widen ac­cess to key in­dus­tries, the top in­dus­try reg­u­la­tor said.

“Pri­vate in­vestors have con­trib­uted 60% of the money poured into the man­u­fac­tur­ing sec­tor,” said Miao Wei, the min­is­ter of in­dus­try and in­for­ma­tion tech­nol­ogy.

“We need to im­prove ef­forts to re­move bar­ri­ers and lower the en­try thresh­old.”

Speak­ing at the three-day China Devel­op­ment Fo­rum here, he said in­vest­ment in man­u­fac­tur­ing grew by only 3% last year, partly be­cause the sec­tor yields lower re­turns than the real es­tate and fi­nan­cial sec­tors.

“We will mo­ti­vate en­ter­prises to ex­pand from pro­duc­tion to man­u­fac­tur­ing de­sign and ser­vices,” Miao said. — China Daily/Asia News Net­work

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