Allow private capital in finance industry

0 Comment(s)Print E-mail, March 12, 2014
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"We have been developing a mixed ownership economy for 10 years now," Zhou Hongjiang, vice president of Changyu Pioneer Wine Company Limited and deputy to the National People's Congress (NPC).

In recent years, private capital has participated in many important industries and monopoly industries, including the financial industry which remains strictly controlled by the government.

At present, many private companies in Shandong have entered into financial fields such as banking and small loans. Wang Shoudong, chairman of the Board of Directors of Shandong Taishan Steel Group Co., Ltd., said that if we can bring more private companies into the financial industry, it will not only bring vitality to the financial markets, but also benefit governmental supervision of the market.

Civil aviation is yet another industry pursued by private companies. The Civil Aviation Administration of China has issued business licenses for public air transportation to Qingdao Airlines Co., Ltd. on Feb 23. The company was held by Nanshan Group.

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