Entrusted by the State Council, Zheng Zhajie, Director of the National Development and Reform Commission, reported on the implementation of the national economic and social development plan since the beginning of this year to the 5th meeting of the 14th National People's Congress Standing Committee on August 28th. Regarding the work that needs to be focused on in the second half of the year, the report points out that mobilizing the enthusiasm of private investment and implementing targeted incentive policies for private investment. Since the beginning of this year, the structure of private investment has been continuously optimized, and some areas of private investment have shown many highlights. According to data from the National Development and Reform Commission, in the first half of this year, private investment, excluding real estate development, increased by 9.4% year-on-year, with a growth rate of 5.6 percentage points higher than all investments; Private investment in the manufacturing industry increased by 8.4%, 2.4 percentage points higher than the overall investment in the manufacturing industry; Private investment in infrastructure increased by 15.6%, 8.4 percentage points higher than the overall investment in infrastructure. CITIC Securities Chief Economist Mingming told Securities Daily that the growth rate of private investment mentioned above is faster than the overall investment growth rate, reflecting the overall strong confidence and investment motivation of private investment. Han Zhifeng, Deputy Director of the fixed assets investment Department of the National Development and Reform Commission and a first level inspector, also said that private investment still faces several problems. From the threshold of access, some private enterprises have unreasonable threshold restrictions for participating in projects with strong willingness to invest. From the perspective of factor acquisition, the problem of difficult and expensive financing for private enterprises still exists, and some private investment projects are also constrained by key factors such as land and energy use. In order to further encourage the active participation of private investment, many regions have recently introduced measures to encourage private investment, optimize the development environment of private economy, and eliminate hidden barriers such as "glass doors", "revolving doors", and "rolling shutter doors". For example, on August 18th, the General Office of the People's Government of Shanxi Province issued the "Specific Measures for Optimizing Market Access and Activating Private Investment in Shanxi Province", which proposed to optimize market access authorization and stimulate the vitality of social investment, especially private investment; On August 28th, the Zhejiang Provincial Government Information Office held a press conference to introduce a total of 32 measures from 5 aspects, including "Several Measures to Promote High Quality Development of Private Economy in Zhejiang Province" (hereinafter referred to as "Several Measures"). The "Several Measures" have introduced a "3 70%" factor guarantee mechanism, including a proportion of no less than 70% invested by the "4+1" special fund in private investment projects in Zhejiang Province; In addition, it is clarified that unless otherwise stipulated by laws and regulations and the state, no additional admission conditions shall be set for private investment entities. Clearly stated, optimizing market access mechanisms can create a fair competitive market environment, optimize the development environment of private economy, and better enhance the confidence of private capital, mobilize the enthusiasm of private investment, and fully unleash the vitality of private investment. Chen Li, Chief Economist and Director of Research Institute of Chuancai Securities, stated in an interview with Securities Daily that relaxing the access field for private investment, strengthening project promotion and docking services, can provide more diversified and high-quality targets for private investment, strengthen investment returns, and stimulate the vitality of private investment. Looking ahead to how to further fully mobilize the enthusiasm of private investment in the future, Chen Li stated that the first is to further expand the scope of private investment access, strengthen the functions of government project promotion and docking services, and strengthen investment in key development areas
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：Securities Daily
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