MNI China Press Digest Nov 11:Private Investment, Premier, SME

Highlights from Chinese press reports on Tuesday:

• The State Council has issued 13 new measures to boost private investment, China Securities Journal reported. For projects in the fields of railways, nuclear power, hydropower, inter-provincial and inter-regional DC transmission channels, oil and gas pipelines, imported liquefied natural gas receiving and storage facilities, and water supply that require national approval, and have certain revenue, a special feasibility study on the participation of private capital should be conducted. Private capital can hold more than 10% of the shares for eligible projects, the newspaper said.
• China must strengthen top-level planning and better coordinate the layout of major productive forces to prevent redundant investment in developing “new quality productive forces,” Vice Premier He Lifeng wrote in an article published in People’s Daily. He said authorities should leverage the leading role of major economic provinces and encourage regions to develop industries that align with their comparative advantages and strengths. Policymakers should also focus on the forefront of the new round of technological and industrial transformation, prioritising sectors with strong leading and driving effects on the economy’s and society’s long-term development, the article said.
• The China Small and Medium Enterprises Development Index stood at 89.0 in October, unchanged from both September and the same period last year, as domestic demand improved modestly amid nationwide campaigns to boost consumption, Securities Daily reported, citing data from the China Small and Medium Enterprises Association. Slight increases in sub-indices for overall operations, market conditions, and costs suggest a marginal improvement in business sentiment and a reduction in operational pressures, indicating early signs of stabilisation, the newspaper said, citing Fu Yifu, a special researcher at Jiangsu Su Merchants Bank.