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Private investor barriers to be removed

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