Caixin reports Beijing has vowed to draft a plan to urge local governments to repay their overdue debts to private companies in a bid to help revitalize dwindling private investment. The plan, if enacted and enforced, could enhance the confidence of private investors and encourage more funds from the private sector. This plan to address the debt issue is part of a series of measures by the National Development and Reform Commission (NDRC), China’s economic planner. It issued a statement Wednesday outlining ways to boost private investment. These include improved access to various sectors, promoting government and private partnerships and repaying debts to private companies. The government will further open up investment in airports, telecom operations, energy resources exploration, electric power distribution and national defense technology to private investors.
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