Take multiple measures to tap the potential of private investment and usher in new opportunities-瞭望新时代网-瞭望时代，放眼世界

Take multiple measures to tap the potential of private investment and usher in new opportunities

2022-07-13

As the main force of investment, private investment is of great significance for stabilizing investment and growth. Affected by the complex and volatile international situation and the multi-point spread of domestic epidemics, the growth rate of private investment has slowed down since this year. The reporter of economic information daily learned that in order to fully stimulate the vitality of private investment, relevant departments and local governments have frequently implemented policies to reduce the entry threshold, promote private investment projects, innovate investment and financing methods, and constantly expand new space for private investment. Private investment is the key to stabilizing investment From January to may, private investment in Hunan Province played a strong driving role, with a year-on-year increase of 11.4%, and the growth rate was 2.6 percentage points higher than the total investment; The contribution rate to the growth of total investment reached 80.4%, driving the growth of total investment by 7.1 percentage points. Private investment in Shandong Province is active. In the first five months, private investment in manufacturing increased by 23.1%, 2.1 percentage points higher than the growth rate of all manufacturing investment; It accounted for 84.4% of all manufacturing investment, an increase of 1.5 percentage points year-on-year. Recently, data disclosed by local statistical bureaus show the new characteristics and new trends of private investment. Meng Wei, deputy director of the Political Research Office of the national development and Reform Commission and spokesman, said recently that private investment increased by 4.1% from January to May this year, accounting for 56.9% of the overall investment, and still accounts for the majority of the overall investment. Among them, private investment in manufacturing increased by 18.9%, private investment in infrastructure increased by 9.1%, and the quality of private investment was further improved. However, Meng Wei also pointed out that due to the complex and volatile international situation and the multi-point spread of domestic epidemics, the growth rate of private investment has been lower than that of overall investment since this year. According to the National Bureau of statistics, from January to may, the national fixed asset investment increased by 6.2% year-on-year. The growth rate of private fixed asset investment is lower than that of overall investment. "Since this year, the growth rate of private investment in China has slowed down, and is lower than the overall growth rate of investment. The main reasons are that, on the one hand, the foreign situation is more complex and volatile, the downward pressure on the economy is increasing, and the expectations of market players are weak, which has affected private investment confidence to a certain extent; on the other hand, many private enterprises are facing difficulties such as rising raw material costs, weak demand, blocked supply chain, and the ability of private investment has weakened." Fan Ruoying, a researcher at the Bank of China Research Institute, told the reporter of economic information daily. How to stabilize and expand private investment? From the State Council to relevant departments, important signals have been intensively released recently. The "package of policies and measures to stabilize the economy" issued by the State Council clearly points out that we should vigorously and orderly promote the implementation of 102 major projects in the 14th five year plan, and encourage and attract more social capital to participate in major national projects. In the bidding project of supply chain industry chain, we should give preference to large and medium-sized enterprise consortia, and encourage private enterprises to give full play to their own advantages to participate in tackling key problems. Encourage private investment to focus on urban infrastructure and participate in the construction of projects in key areas through the comprehensive development model. Focusing on supporting private investment, the recently held executive meeting of the State Council further emphasized improving the efficiency of private investment procedures, including large projects into the local key project library, and strengthening land use and other guarantees. We will support the healthy development of the platform economy and the development of venture capital by private capital. Financial institutions are encouraged to support private investment by renewing loans and extending the term. We will promptly launch real estate investment trust fund projects for private investment. Encourage private enterprises to convert market-oriented debt into equity, etc. Focusing on solving the problems that restrict the growth of private investment, Meng Wei said that the next step is to play a leading role in major projects and government investment; Second, accelerate the implementation of private investment projects; Third, encourage private investment to actively participate in revitalizing stock assets; Fourth, strengthen private investment and financing support; Fifth, support the standardized development of private enterprises; Sixth, continue to optimize the private investment environment. All localities have intensively finalized key investment areas Where and how will private investment be invested in the future? Much attention. Recently, many places have intensively finalized important areas and directions. Among them, Shanghai encourages and attracts more social capital to participate in a number of major projects such as municipal railways and new infrastructure, and encourages private investment to focus on urban infrastructure and participate in the construction of key projects through a comprehensive development model. Guangzhou proposed to fully mobilize the enthusiasm of social capital, promote the high-quality development of urban parking facilities, and further improve the efficiency of urban operation. Hebei has made it clear that it will further relax access to infrastructure, public utilities and other fields, and will be open to private capital unless expressly prohibited by laws and regulations. It is worth noting that recently, a number of promotion projects for private investment have been released in succession. The Sichuan Provincial Development and Reform Commission, together with the Provincial Federation of industry and commerce, has selected 63 projects in key areas to attract private capital, with a scale of 53.086 billion yuan. The 63 projects mainly cover nine fields, including new infrastructure, transportation, agriculture, forestry and water conservancy, urban infrastructure, warehousing and logistics, ecological environmental protection, social undertakings, cultural tourism and industrial development, with a planned investment of 70.247 billion yuan. In addition, Beijing released the list of the first batch of projects in key areas for private capital promotion in 2022. A total of 155 projects are proposed to be promoted this time, with a total investment of 145.6 billion yuan. The number of projects and the amount of investment are the highest in five years. In the fields of infrastructure, ecological environmental protection, social undertakings and so on, Tianjin has concentrated on promoting a number of projects to private capital that comply with national industrial policies, have a certain foundation for preliminary work, and have a clear investment return mechanism, a total of 18 projects, with a total investment of 39.97 billion yuan. In addition to project traction, the leveraging role of government capital is emphasized. The reporter noted that the government and social capital cooperation (PPP) model has been frequently "nominated" in the fields of water conservancy, environmental protection, urban renewal and so on. Further mobilize the enthusiasm of private investment Industry experts said that private investment has huge potential and space, and we should take multiple measures to further mobilize the enthusiasm of private investment. Fan Ruoying believes that improving the enthusiasm of private capital to participate in new infrastructure projects, industrial transformation and upgrading, high-tech development, environmental protection and other fields will help promote high-quality economic development. In addition, private enterprises account for a relatively high proportion of China's manufacturing industry. Expanding the investment space of private enterprises is conducive to enhancing the investment toughness of manufacturing industry. "Through private investment, we can also expand the source of capital for infrastructure investment and alleviate the problem of insufficient project funds to a certain extent." "From the perspective of the stock and increment of private investment, private investment is more active and accounts for a large share in the field of manufacturing. In the field of competitive services, such as wholesale and retail, accommodation and catering, real estate, residential services and other services, private investment is also the main source of investment." Liu Xingguo, a researcher of the China Enterprise Federation, told the reporter of economic information daily. "Both the deepening of reform and the sustained economic and social development will bring more new opportunities for private investment." Liu Xingguo believes that from the perspective of reform, more and more fields will open the door to private investment, and more state-owned enterprises will cooperate with private investment to participate in the mixed ownership reform of state-owned enterprises as strategic investors. From the perspective of economic and social development, with the economic development and the increase of residents' income, the demand for new products and services will also increase, which will provide new development opportunities for private investment. In terms of further stimulating the vitality of private investment, Liu Xingguo suggested further optimizing the business environment and accelerating the construction of a legal, market-oriented and international business environment; Strengthen the protection of the legitimate rights and interests of private capital and entrepreneurs, and effectively stimulate market demand; Implement various relief and assistance policies, effectively reduce the operating burden of private enterprises, and expand the profit space of private enterprises. Fan Ruoying suggested further liberalizing the market access restrictions of private enterprises and improving the docking mechanism of social capital investment and financing cooperation. We will establish and improve a long-term mechanism to attract private capital to invest in key areas, continue to break the hidden obstacles for private capital to enter key areas, and boost the confidence of market players in long-term investment and management. Guide commercial banks to increase credit support for private enterprises, optimize financial services for private enterprises, and reduce the comprehensive financing cost of enterprises. Further innovate the way of private investment, improve the relevant policies of infrastructure REITs, and appropriately expand the scope of pilot projects. (Xinhua News Agency)

Edit：He Chuanning Responsible editor：Su Suiyue

Source：Economic Information Daily

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