BEIJING, Dec. 19 (Xinhua) -- China's private investment rose by 8.7 percent in the first 11 months of 2018, three percentage points higher compared with the same period of last year, and 2.8 percentage points higher than the overall investment growth, according to the data released by the National Development and Reform Commission (NDRC) on Tuesday.
The private investment has gained momentum from China's implementation of a series of polices encouraging private economy and giving support for private enterprises including introducing key projects to the private capital.
The Xinhua-run Economic Information Daily reported that while the growth rate of private investment continued to rise, the structure of private investment was constantly optimized. In the first 11 months of 2018, private investment in manufacturing increased by 10.3 percent, 6.2 percentage points higher than the same period of last year, and 1.6 percentage points higher than the overall growth rate of private investment. Meanwhile, private investment in some key areas such as railway transportation, computer communications, electronic equipment manufacturing, education, and road transportation also maintained rapid growth.
The quick growth of private investment in China's western region is eye-catching. The growth rate of private investment in Tibet, Gansu, Anhui and Shaanxi was more than 10 percentage points higher over the same period of last year.
China's private investment maintained a sound growth trend in 2018, with growth rate keeping higher than that of the overall investment growth rate. Favorable policies have become an important reason for boosting confidence of the private economy and speeding up the growth of private investment.
Guangdong, Zhejiang, Shanghai, and other provincial regions have successively issued policies and documents to encourage high-quality development of private economy, and proposed a number of measures to promote healthy development of private investment.
The NDRC said that private investment will maintain its growth momentum in the coming period.
However, unfavorable factors that restrict the development of private investment still exist, including insufficient manufacturing innovation capacity, financing difficulties and high financing cost.
In response to these circumstances, it was learned that related departments have launch a large-scale investigation into the operation of private enterprises and a wave of supporting policies is on the way.
Liu Xingguo, a researcher at the China Enterprise Confederation, said that in the recent period, the central and local governments have actively increased policy support, which enhanced the vitality and profitability of private enterprises. With the introduction of these policies and measures, the confidence of private capital and private entrepreneurs has been stabilized and the development environment of private enterprises has improved significantly. Private capital will usher in a new round of reform and development opportunities.
Related authorities including the NDRC noted that they will guide private investment to improve quality and efficiency, and incline to strategic emerging industries. (Edited by Sun Huanjie, sunhj@xinhua.org)
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