Beijing opens up 65 major projects to private investment

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Beijing has opened up 65 new projects to private investment, the Municipal Commission of Development and Reform announced Monday.

The projects are taking place across the capital's 16 districts, include those that aim to improve people's livelihood like new retail markets and healthcare centers, as well as high-tech projects like science parks. 

The total funding goal for these projects is 100.61 billion yuan (US$14.62 billion), and a little over half will be raised from private investors, according to the commission's plan.

Private investment has long contributed to the Chinese capital's steady growth, industry restructuring, and employment. In the first five months of 2019, the city's private investment has registered a double-digit growth of 16.7%, 11.1 percentage points higher than the national average.

Beijing will continue to provide targeted services, improve business environment for private businesses, and introduce more favorable policies to help reduce their costs and increase performance, said an official with the commission.

The commission said it will strive to do a good job in the coordination and follow-up arrangements so as to provide a more stable, fair, and transparent market environment for the development of private investment.

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