Some Opinions of the State Council on Encouraging and Guiding the Healthy Development of Private Investment
Source: State Department
Author: State Council
Guofa (2010) No. 13
The people's governments of provinces, autonomous regions, and municipalities directly under the Central Government, the ministries and commissions of the State Council, and the agencies directly under the State Council:
Since the reform and opening up, China’s non-governmental investment has continued to grow and expand, and it has become an important force for promoting economic development, adjusting industrial structure, prospering urban and rural markets, and expanding social employment. While unswervingly consolidating and developing the public sector economy, we must unshakeably encourage, support and guide the development of the non-public ownership economy, further encourage and guide private investment, and help maintain and improve the basic economic system of China's primary stage of socialism, with modernization. The property rights system is based on the development of a mixed ownership economy, promotes equal competition and common development of all forms of ownership economy; it is conducive to improving the socialist market economic system, giving full play to the basic role of the market in allocating resources, establishing a fair competitive market environment, and encouraging economic development. The endogenous driving force for growth, the foundation for sustainable development, and the promotion of stable and rapid economic development over a long period of time are conducive to expanding social employment, increasing the income of residents, stimulating domestic consumption, and promoting social harmony and stability. To this end, make the following observations:
First, to further broaden the scope and scope of private investment
(1) Implementing in depth a series of policies and measures such as the “Suggestions of the State Council on Encouraging and Supporting the Development of Individually-Owned and Non-Public Ownership Economy” (GBF  No. 3), encouraging and guiding the entry of private capital into laws and regulations that are not expressly prohibited Access to industries and areas. Standardize investment access thresholds, create fair competition, and equal access to the market environment. Market access standards and preferential support policies should be open and transparent, and be treated equally for all types of investment entities. No additional conditions for private capital should be set.
(b) Clearly define the scope of government investment. Government investment is mainly used in the economic and social fields that relate to national security and markets cannot effectively allocate resources. For the areas of infrastructure, municipal engineering, and other public services that can be market operated, private capital should be encouraged and supported.
(3) Further adjusting the layout and structure of the state-owned economy. State-owned capital should focus its investments on strengthening and consolidating important industries and key areas that are related to the lifeline of the national economy. In general competitive areas, it is necessary to create a broader market space for private capital.
(d) Actively promote the reform of social undertakings such as medical treatment and education. The private social undertakings should be taken as an important supplement to the development of social and public undertakings, with overall planning and rational distribution, and accelerating the development of a public service system that is mainly government-funded and supplemented by private investment.
Second, encourage and guide private capital to enter the basic industries and infrastructure
(5) Encourage private capital to participate in the construction of transportation. Encourage private capital to invest in the construction of highways, water transport, port terminals, civil airports, general aviation facilities and other projects by means of sole proprietorship, holding company, and equity participation. We must study and formulate plans for the reform of the railway system, introduce market competition, promote the diversification of investment entities, encourage private capital to participate in the construction of railway lines, railway extensions, railway ferries and station facilities, and allow private capital to participate in the construction of coal transportation corridors, passenger dedicated lines, and cities. Rail transit and other projects. Explore the establishment of a railway industry investment fund and actively support the railway enterprises to speed up the stock reform and expand the channels and channels for private capital to enter the railway construction field.
(6) Encourage private capital to participate in the construction of water conservancy projects. Establish a compensation mechanism for compensation, implement government subsidies, and invite private capital to invest in construction of water conservancy projects such as farmland water conservancy, inter-basin water transfer, comprehensive utilization of water resources, water and soil conservation, etc. through bidding by owners and contracted leasing.
(7) Encourage private capital to participate in power construction. Encourage private capital to participate in the construction of new energy industries such as wind energy, solar energy, geothermal energy, and biomass energy. Support private capital to participate in the construction of hydropower stations and thermal power stations in the form of sole proprietorship, holding or participation, and participate in the construction of nuclear power plants. Further liberalize the electricity market, actively promote the reform of electricity prices, speed up the implementation of bidding for access to the Internet, implement tenders for project owners, improve the electricity regulatory system, and create a favorable environment for private power generation companies to participate in competition on an equal footing.
(8) Encourage private capital to participate in the construction of oil and natural gas. Support private capital to enter the field of oil and gas exploration and development, and cooperate with state-owned oil companies in oil and gas exploration and development. Support private capital to participate in the construction of crude oil, natural gas, refined oil storage and pipeline transportation facilities and networks.
(9) Encourage private capital to participate in telecommunication construction. Encourage private capital to enter the basic telecom operation market by way of equity participation. Support private capital to carry out value-added telecommunication services. Strengthen supervision of monopoly and unfair competition in the telecommunications sector, promote fair competition, and promote resource sharing.
(10) Encourage private capital to participate in land consolidation and exploration and development of mineral resources. Actively guide private capital to participate in land consolidation, reclamation and other project construction through bidding and tendering, encourage and guide private capital investment in the recovery and treatment of the mine geological environment, and insist that the mining rights market is fully open to private capital.
Third, Encourage and Guide Private Capital into Municipal Public Utilities and Policy Housing Construction
(11) Encourage private capital to participate in the construction of municipal public utilities. Support private capital for urban water supply, gas supply, heating, sewage and garbage disposal, public transportation, and urban landscape afforestation. Encourage private capital to actively participate in the restructuring and restructuring of municipal public enterprises and institutions. Municipal public utility projects that meet the requirements can adopt a market-oriented business model and transfer property rights or operating rights to private capital.
(12) Further deepen the reform of the municipal public utilities system. Actively introduce the market competition mechanism, vigorously implement the bidding system for investment entities and operating entities of municipal public utilities, and establish and improve the franchise system for municipal public utilities. Improve and improve the government procurement system, establish a standard government supervision and financial subsidy mechanism, accelerate the reform of the municipal public product price and charging system, and create a favorable institutional environment for encouraging and guiding private capital into the municipal public utilities.
(13) Encourage private capital to participate in the construction of policy housing. Support and guide private capital investment in the construction of affordable housing, public rental housing and other policy housing, participation in shantytowns transformation, and enjoy the corresponding policy of housing construction policy.
IV. Encouraging and Guiding Private Capital into Social Fields
(14) Encourage private capital to participate in the development of medical services. Support private capital to establish various types of hospitals, community health service agencies, nursing homes, outpatient departments, clinics, health clinics, and other medical institutions to participate in restructuring and restructuring of public hospitals. Support private medical institutions to undertake fixed-point services for public health services, basic medical services and medical insurance. Effectively implement the tax policy of non-profit medical institutions. Encourage the flow of medical personnel resources to private medical institutions to ensure that private medical institutions enjoy equal treatment with public hospitals in terms of talent introduction, job title assessment, and research projects. Strengthen the supervision of various medical institutions from the aspects of medical quality, medical behavior, and charging standards, and promote the healthy development of private medical institutions.
(15) Encourage private capital to participate in the development of education and social training. Support private capital in setting up institutions for education and social training such as institutions of higher learning, primary and secondary schools, kindergartens, and vocational education. Revise and improve the "Implementation Regulations of the People's Republic of China on the Promotion of Civilian-run Education Promotion", implement the personnel-incentive policy and public-finance policy for private schools, accelerate the formulation and improvement of policies on finance, property rights and social security that promote the development of private education, and study the establishment of private schools. Exit mechanism.
(16) Encourage private capital to participate in the development of social welfare services. Through forms such as land use guarantees, credit support, and government procurement, private capital is encouraged to invest in the construction of specialized service facilities, and various social welfare institutions such as raising old services and rehabilitation and support services for the handicapped will be established.
(17) Encourage private capital to participate in the development of culture, tourism and sports industries. Encourage private capital to engage in activities such as advertising, printing, performing arts, entertainment, cultural creativity, cultural exhibitions, film and television production, online culture, animation games, publication distribution, digital production of cultural products and related services, and build museums, libraries, cultural centers, and cinemas. Other cultural facilities. Encourage private capital to rationally develop tourism resources, build tourist facilities, and engage in various tourism and leisure activities. Encourage private capital to invest in the production of sporting goods, build sports venues and fitness facilities, and engage in activities such as sports and fitness and competitions.
V. Encouraging and Guiding Private Capital into Financial Services
(18) Allow private capital to set up financial institutions. In the context of strengthening effective supervision, promoting normative management, and preventing financial risks, we will relax restrictions on the number of shares held by financial institutions. Support private capital to participate in commercial bank's replenishment and share expansion by participating in shares, and participate in the restructuring of rural credit cooperatives and urban credit cooperatives. Encourage private capital to initiate or participate in the establishment of financial institutions such as village and town banks, loan companies, and rural mutual-finance cooperatives, and to relax the restrictions on the minimum capital ratio of corporate banks in rural banks or community banks. Implementing the provision for full loss provision before the implementation of the SME loan tax, and simplifying the review and verification procedures for bad debts of small and medium-sized financial institutions. Appropriately relax the restrictions on the proportion of single investors holding shares in small loan companies, and implement the same financial subsidy policy as that of village and town banks for the agriculture-related businesses of small loan companies. Support private capital to initiate the establishment of credit guarantee companies and improve the risk compensation mechanism and risk sharing mechanism of credit guarantee companies. Encourage private capital to initiate the establishment of a financial intermediary service agency and participate in the restructuring and reform of financial institutions such as securities and insurance.
Encourage and guide private capital to enter the field of commercial circulation
(19) Encourage private capital to enter the wholesale, retail and modern logistics fields. Support the development of private wholesale and retail enterprises, and encourage private capital to invest in new types of circulation such as chain operations and e-commerce. Guide private capital to invest in third-party logistics service areas, create conditions for private logistics enterprises to undertake logistics business outsourcing of traditional manufacturing industries and trade and industry, and support small and medium-sized private commercial and trade circulation enterprises to develop collaborative joint distribution. Accelerate the reform of the logistics industry management system, encourage the integration and full use of logistics infrastructure resources, promote the networked operation of logistics companies, establish a convenient and efficient financing platform, create a fair and standardized market competition environment, and promote the socialization and resource utilization of logistics services. Marketization.
VII. Encouraging and Guiding Private Capital to Enter the National Defense Technology Industry
(20) Encourage private capital to enter the investment and construction fields of national defense science and technology industries. Guide and support private enterprises orderly participate in the restructuring and restructuring of military industrial enterprises, encourage private enterprises to participate in dual-use high-tech development and industrialization, and allow private enterprises to participate in military production and research tasks in accordance with relevant regulations.
VIII. Encouraging and guiding private capital reorganization and participation in the reform of state-owned enterprises
(21) To guide and encourage private enterprises to use the property market to combine private capital, promote reasonable flow of property rights, and carry out cross-regional and cross-industry mergers and reorganizations. Encourage and support the rational flow of private capital in the country, realize the orderly transition of industries, participate in the development of the western region, the rejuvenation of old industrial bases in the northeast region, the rise of the central region, the construction of new rural areas, and the development of poverty alleviation. Support conditional private enterprises to become bigger and stronger through joint reorganization, and develop into a group company with outstanding characteristics and strong market competitiveness.
(22) Encourage and guide private enterprises to participate in the restructuring and reorganization of state-owned enterprises through various forms such as participation in shares, holdings, and acquisition of assets. Rationally reduce the proportion of state-owned enterprises in the state-owned capital. In participating in the restructuring and reorganization of state-owned enterprises, private enterprises must earnestly implement the state’s policy requirements regarding asset disposal, debt processing, and social security, properly place employees in accordance with the law, and ensure the legitimate rights and interests of employees.
IX. Promoting Private Enterprises to Strengthen Independent Innovation and Transformation and Upgrade
(23) To implement preferential tax policies that encourage enterprises to increase R&D investment, encourage private enterprises to increase R&D investment, improve independent innovation capabilities, and master core technologies with independent intellectual property rights. Help private enterprises establish engineering technology research centers, technology development centers, increase technical reserves, and do a good job in training of technical personnel. Support private enterprises to participate in major national science and technology plan projects and technological breakthroughs, and constantly improve their technological level and R&D capabilities.
(24) Accelerate the implementation of incentive policies that promote the transformation of scientific and technological achievements, actively develop technology markets, improve the registration system of scientific and technological achievements, and facilitate the transfer and purchase of advanced technologies by private enterprises. Accelerate the construction and mechanism innovation of scientific and technological service institutions such as analysis and testing, inspection and testing, business incubation, scientific and technological assessment, and scientific and technological consulting, and provide a service platform for independent innovation of private enterprises. Actively promote market competition in the areas of high-tech services such as information service outsourcing, intellectual property rights, technology transfer, and results transformation, and support private enterprises in launching technical service activities.
(25) Encourage private enterprises to increase their efforts in developing new products and upgrade their products. The research and development expenses incurred for the development of new products may be subject to the provision of additional deductions and preferential policies. Encourage private enterprises to implement brand development strategies, striving for brand-name products, and improving product quality and service levels. By encouraging the depreciation of fixed assets, etc., private enterprises are encouraged to carry out technological transformation, eliminate backward production capacity, and accelerate technological upgrading.
(26) Encourage and guide private enterprises to develop strategic emerging industries. Widely use high technology such as information technology to transform and upgrade traditional industries, vigorously develop circular economy and green economy, invest in energy-saving and emission reduction, water-saving and consumption reduction, biomedicine, information network, new energy, new materials, environmental protection, comprehensive utilization of resources, etc. Emerging industries with potential for growth.
X. Encourage and guide private enterprises to actively participate in international competition
(27) Encourage private enterprises to “go global” and actively participate in international competition. Support private enterprises to carry out international operations in R&D, production, and marketing, develop strategic resources, and establish an international sales network. Support private enterprises to use their own brands, independent intellectual property rights and independent marketing, open up the international market, and accelerate the cultivation of multinational companies and international famous brands. Support private enterprises, private enterprises and state-owned enterprises to form a consortium, give full play to their respective advantages, and jointly carry out various forms of overseas investment.
(28) Perfecting the overseas investment promotion and security system. Establish policy consultation mechanisms with relevant countries to encourage and promote the international mobility of private capital, carry out various forms of dialogues and exchanges, and develop long-term stable, mutually beneficial cooperative relations. Through the signing of bilateral non-governmental investment cooperation agreements and the use of multilateral agreement systems, we will strive for favorable investment, trading environment and more preferential policies for private enterprises to “go global”. We will improve and improve overseas investment incentive policies. Private enterprises and other enterprises enjoy equal treatment in financial support, financial insurance, foreign exchange management, and quality inspection and customs clearance.
XI. Creating a good environment for private investment
(29) Clearing up and revising regulations and policies that are not conducive to the development of private investment, effectively protecting the legitimate rights and interests of private investment, and nurturing and maintaining an equal competitive investment environment. When formulating laws, regulations, and policies involving private investment, opinions and suggestions of relevant chambers of commerce and private enterprises must be heard to fully reflect the reasonable requirements of private enterprises.
(30) The government funds arranged by the relevant departments of the people's governments at various levels, including budgetary investment, special construction funds, and venture capital investment guidance funds, as well as loans from international financial organizations and foreign government loans, shall clearly define the rules and standards. All kinds of investment subjects, including private investment, are treated equally. Support the products and services of private enterprises into the government procurement catalog.
(31) All types of financial institutions shall, on the basis of preventing risks, innovate and flexibly use various financial instruments, increase financing support for private investment, and strengthen financial services for private investment. People's governments at all levels and relevant regulatory agencies shall continuously improve the financing guarantee system for private investment, improve the venture capital investment mechanism, develop equity investment funds, and continue to support private enterprises in financing through the stock and bond markets.
(32) Comprehensively clean up and integrate the administrative examination and approval matters involving private investment management, simplify the links and shorten the time limit, further promote the openness and standardization of management contents, standards and procedures, and improve the efficiency of administrative services. Further clean up and standardize the fees and charges for enterprises, and effectively reduce the burden on private enterprises.
XII. Strengthening the service, guidance and standardization of private investment
(33) The statistical department shall strengthen statistical work on private investment and accurately reflect the progress and distribution of private investment. Investment authorities, industry management departments, and industry associations must effectively monitor and analyze private investment, timely grasp the dynamics of private investment, and reasonably guide private investment. We must strengthen the construction of investment information platforms, and publicly publish information on national industrial policies, development and construction plans, market access standards, and domestic and foreign industry trends in a timely manner so as to guide private investors to correctly judge the situation and reduce blind investments.
(34) Establish and improve the private investment service system. We will give full play to the role of self-regulatory organizations such as chambers of commerce and industry associations, and actively cultivate and develop intermediary organizations that provide legal, policy, consulting, finance, finance, technology, management, and market information services for private investment.
(35) While tightening market access, strengthen supervision. The relevant departments of the people's governments at various levels shall, in accordance with the requirements of relevant laws and regulations, earnestly urge private investment entities to perform investment and construction procedures, and strictly abide by the state's industrial policies and regulations on environmental protection, land use, energy conservation, and quality and safety. It is necessary to establish and improve the corporate credit system and guide private enterprises to establish standardized property rights, finances, employment, etc., and operate according to law. Non-governmental investment subjects must continuously improve their own quality and ability, establish a sense of integrity and responsibility, actively create conditions to meet market access requirements, and take the initiative to undertake corresponding social responsibilities.
(36) To create a favorable atmosphere of public opinion conducive to the healthy development of private investment. We vigorously promoted the principles, policies and measures of the Party Central Committee and the State Council on encouraging, supporting and guiding the development of the non-public economy. Objective and fair publicity and reporting on the positive role of private investment in promoting economic development, adjusting industrial structure, prospering urban and rural markets, and expanding social employment. Actively promote the advanced deeds of private entrepreneurs operating in accordance with the law, honest and trustworthy, conscientiously fulfilling their social responsibilities, and actively participating in social welfare undertakings.
All regions and departments should place more emphasis on encouraging and guiding the healthy development of private investment, further emancipating the mind, changing concepts, deepening reforms, and innovating and seeking truthfulness. In accordance with the requirements of this opinion, we must step up research and formulate specific implementation measures, and quickly Policies and measures have been implemented, and efforts have been made to create a favorable policy environment and public opinion atmosphere conducive to the healthy development of private investment, to effectively promote the sustained and healthy development of private investment, and to promote reasonable investment growth, structural optimization, efficiency improvement, and sound and rapid economic and social development.
May 7, 2010
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