October 21, 2017 / 8:10 AM / a year ago

China says will guide private capital into higher growth areas

Employees work at a production line inside a factory of Saic GM Wuling, in Liuzhou, Guangxi Zhuang Autonomous Region, China, June 19, 2016. REUTERS/Norihiko Shirouzu - S1AETQJGBJAA

BEIJING (Reuters) - China will introduce measures aimed at guiding private investment into areas that have a higher growth potential, a senior official with the state planning agency said on Saturday.

China also would take steps to lower the investment threshold for private investors, said Zhang Yong, the vice-head of the National Development and Reform Commission (NDRC), during a briefing on the sidelines of China’s Communist Party Congress.

The manufacturing industry as well as the property market, which have been driving private investment, are now quite weak, Zhang said.

“Now we want to attract investment in sectors with growth potential such as subway projects.”

Reporting by Kevin Yao and Meng Meng; Writing by David Stanway; Editing by Kim Coghill

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