China establishes and improves a “five ones” policy system to promote private investment

China’s National Development and Reform Commission is working hard to establish and improve the “five ones” policy system to promote private investment, namely “one platform, one database, one mechanism, one model, and one guarantee”.

This was learned by reporters from a recent on-site meeting organized by the National Development and Reform Commission of China in Jinan, Shandong to promote high-quality development of the private economy.

Zhao Chengfeng, deputy director of the Investment Department of the National Development and Reform Commission of China, introduced that “one platform” refers to China’s platform for promoting projects to private capital, “one database” is the national key private investment project database, “one mechanism” is the new mechanism of government-social capital cooperation (PPP), “one model” is the real estate investment trust fund (REITs) in the infrastructure field, and “one guarantee” is the mechanism to promote private investment funds and factors.

“We adhere to the system concept and strive to establish and improve the ‘five ones’ policy system to promote private investment. The purpose is to adhere to the problem-oriented approach, focus on the problems existing in private investment, and strive to promote a sound working mechanism to encourage and guide private investment, so that the majority of private enterprises have more tangible sense of gain.” Zhao Chengfeng said.

Zheng Bei, deputy director of the National Development and Reform Commission, said: “We need to improve the long-term mechanism for private enterprises to participate in the construction of major national projects, select more projects that meet policy requirements, have large investment scales, and are highly demonstrative, include them in the national key private investment project database, and promote their implementation.”

Zheng Bei introduced that in the next step, the National Development and Reform Commission will continue to improve the coordination mechanism to promote the development of the private economy, strengthen the special assessment of the consistency between private economy-related policies and macroeconomic policy orientations, and make every effort to promote the development and growth of the private economy.