China will take more steps to boost the private sector by lowering the investment threshold in emerging industries, a senior official with the nation's top economic regulator said on Saturday. Zhang Yong, vice-chairman of the National Development and Reform Commission, said private investment, while growing at a slow pace, should not be a concern, as it has to do with the nation's economic restructuring. The government is trying to rely less on old economic drivers and more on newly emerging sectors. "Destocking in the property market and cutting overcapacity in manufacturing, both part of key efforts on economic upgrading, have led to the growth slowdown," he said. However, the government does have a major role in guiding more private capital into emerging sectors with decent returns, according to Zhang. The central authorities will lower the investment threshold for private investors, expand market access, and introduce more measures to help ensure their rights, he said. In the first nine months of this year, private fixed-asset investment saw 6 percent year-on-year growth, compared with 11 percent growth in investment by State-owned enterprises during the same period, data from the National Bureau of Statistics show. Xu Hongcai, an economist with the China Center for International Economic Exchanges, said efforts to ensure the rights of private investors are crucial, as SOEs usually enjoy more preferential policies, especially in government-initiated infrastructure construction projects. The central government also should make private investment in public-private partnership projects more convenient, said Xue Qitang, a Beijing-based lawyer specializing in PPP projects. [email protected] (China Daily 10/22/2017 page3) 24 hour wristbands.comwedding wristbandssilicone bracelets custom cheapcustom rubber bandscustom fidget
URUMQI -- Thirty-two people were injured and more than 1,000 houses damaged in a 6.6-magnitude earthquake in Jinghe county in Bortala Mongolian autonomous prefecture in Northwest China's Xinjiang Wednesday morning. Two people were seriously injured, and 142 homes collapsed, according to the regional information office. The China Earthquake Networks Center said the earthquake occurred at 7:27 am (Beijing Time) at a depth of 11 km. Another 121 aftershocks were recorded as of 1 pm with the greatest exceeding magnitude 6. About 600 houses and livestock sheds were damaged in neighboring Ili Kazakh autonomous prefecture. Services of 40 passenger trains were stopped and 21 others suspended. Earthquake, firefighting, civil affairs, transportation and health departments at central and local levels have sent teams to assist in relief work. Armed police are at the scene. More police officers and helicopters are on stand-by. The regional civil affairs department has sent 500 tents, 500 folding beds, 500 quilts, 500 overcoats and 1,000 flashlights to the affected areas. Earlier reports said residents in Jinghe county and the cities of Urumqi, Changji, Yining and Karamay felt strong tremors that lasted 10 to 20 seconds. The epicenter was 37 km from Jinghe county seat, 93 km from the prefectural capital of Bole city, and 383 km from Urumqi. According to the regional government, about 760 people were within 20 km of the epicenter, and about 53,000 were within 50 km. Jinghe county has a population of about 150,000. A total of 65 quakes greater than magnitude 3 have been recorded within 200 km of the epicenter over the past five years, the current being the greatest.
