3 Updates

China encourages private capital

Nov 15 2013, 8:26am CST | by IANS

Beijing, Nov 15 (IANS) China has decided to allow more private capital into the market to develop a mixed ownership economy.

Beijing, Nov 15 — China has decided to allow more private capital into the market to develop a mixed ownership economy. According to a decision issued Friday by the Central Committee of the...

Filed under: news

YouTube Videos Tweets

 
 
 

48 weeks ago

China encourages private capital

Nov 15 2013, 8:26am CST | by IANS

Beijing, Nov 15 (IANS) China has decided to allow more private capital into the market to develop a mixed ownership economy.

Beijing, Nov 15 — China has decided to allow more private capital into the market to develop a mixed ownership economy.

According to a decision issued Friday by the Central Committee of the Communist Party of China (CPC), non-state-owned capital will be allowed to take equity stakes in projects featuring investment by state-owned capital, and employees of multi-ownership enterprises will be able to hold shares in their companies, Xinhua reported.

The country will vigorously develop mixed ownership to improve the basic economic system while keeping the dominant role of public ownership, with the state-owned economy playing a leading role, while encouraging, supporting and guiding the non-public sector, enhancing its vitality and creativity, according to the decision.

The decision called for cross shareholding of state capital, collectively owned capital and non-public capital to maintain and increase the value of stated assets and achieve common development of various ownerships.

The CPC Central Committee decided to support the development of the private economy, and stimulate its vitality and creativity, according to an explanation of the decision, made by Xi Jinping, general secretary of the CPC Central Committee.

Both public and non-public sectors of the economy are important components of the socialist market economy and significant bases for economic and social development, he said.

Property rights in the public sector will be protected, so as those of the non-public sector, Xi said.

The decision also called for further improvement in the management of state-owned assets.

Priority will be given to supervision of state-owned capital and qualified state-owned enterprises (SOEs) will be reorganised to establish state-owned assets investment companies, according to the decision.

These investment companies will serve national strategic goals and invest in key industries related to national security and the lifelines of national economy, said the decision.

The investment will mainly go to the public service and environment protection sectors, as well as prospective and strategic industries, it said.

Part of state-owned capital will be transferred to the social security fund. Thirty percent of the gains of the country's state-owned capital will have to be handed back to the government by 2020.

At present, the proportion ranges from zero to 15 percent. The money will be used to improve people's livelihood, said the decision.

The decision also called for improvement on the property rights system with equal treatment on both public and non-public properties. It also ruled that property rights of various types should be protected in accordance with the law.

The lengthy policy document - officially named 'A decision on major issues concerning comprehensive and far-reaching reforms' - was approved in the third plenary session of the 18th CPC Central Committee, a four-day key meeting which ended in Beijing Tuesday.

IANS

Source: IANS

 
Update
3

Tweets

 
 
Update
2

2 weeks ago

17-Year-Old Protest Veteran Joshua Wong Is Face of Hong Kong Protests

Oct 3 2014 12:24pm CDT | Source: Big Government

The protests against the Communist Party of China currently engulfing China have been described as largely a student-led movement, and within that movement, one teen has distinguished himself as a veteran activist, with wins against the Chinese government under his belt. Joshua Wong has been protesting the oppressive maneuvers of the Chinese government against Hong Kong for years, despite his young age. Wong, leader of the Scholarism movement largely respons ...
Source: Big Government   Full article at: Big Government
 

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

Obama names Indian-American as ambassador to Sweden
Washington, Oct 24 (IANS) President Barack Obama has nominated Indian-American investment banker and philanthropist Azita Raji to the coveted diplomatic post of US ambassador to Sweden.
 
 
Student dies in Finland high school stabbing
Helsinki, Oct 24 (IANS) A stabbing incident in a high school in Finland's northern town of Utsjoki around noon Friday left one male student dead, media reported.
 
 
Putin, Merkel call for new talks between Kiev, separatists
Moscow, Oct 24 (IANS/TASS) Russian President Vladimir Putin and German Chancellor Angela Merkel have called for holding another meeting of the Contact Group on Ukraine at the earliest, the Kremlin said Friday.
 
 
London police compensate undercover agent's victim
London, Oct 24 (IANS/EFE) The London police department has paid 425,000 pounds ($681,000) in compensation to a woman who discovered that the man with whom she bore a child was actually an undercover police agent whose job was to spy on her activities, officials said Friday.
 
 
 

Latest from the Network

Second MERS case reported in Qatar
Doha, Oct 23 (IANS) A 43-year-old man in Qatar has tested positive for Middle East Respiratory Syndrome (MERS) in the second confirmed case of the deadly virus in 10 days, media reported Thursday. The patient had...
Read more on Business Balla
 
Two people die in Pakistan bomb blast
Islamabad, Oct 23 (IANS) At least two people were killed and 12 others injured in an explosion that took place in Pakistan's Balochistan province Thursday, media reported. The bomb was planted on a motorcycle, Dawn...
Read more on Politics Balla
 
Trott extends contract with Warwickshire till 2017
London, Oct 23 (IANS) England batsman Jonathan Trott, whose mental issues led to his abrupt departure from last winter's Ashes tour, has confirmed his successful comeback to competitive cricket by signing a new three-...
Read more on Sport Balla
 
Srikanth, Kashyap big movers in BWF rankings
Kuala Lumpur, Oct 23 (IANS) Indian men shuttlers Kidambi Srikanth and Parupalli Kashyap jumped seven places each in the latest Badminton World Federation (BWF) rankings released Thursday while Olympic bronze medallist...
Read more on Sport Balla
 
Alvin Stardust dead
London, Oct 23 (IANS) English singer Alvin Stardust died after a short illness. He was 72. Stardust's manager confirmed the news about his demise Thursday, reports mirror.co.uk. He was recently diagnosed with...
Read more on Celebrity Balla
 
Indian man reunited with family after 40 years
Dubai, Oct 23 (IANS) An Indian man, who had disappeared from his hometown in Kerala nearly 40 years ago, has been found by his family at a hospital in Dubai in the UAE, a newspaper report said. Now in his 60s, Abdulla...
Read more on Politics Balla
 
Srikanth, Kashyap, Saina rise in world rankings
Kala Lumpur, Oct 23 (IANS) Indian men shuttlers Kidambi Srikanth and Parupalli Kashyap jumped seven places each in the latest released Badminton World Federation (BWF) rankings Thursday while Olympic bronze medallist...
Read more on Sport Balla
 
Flintoff signs for Big Bash side Brisbane Heat
Brisbane, Oct 23 (IANS) Former England captain and all-rounder Andrew Flintoff, who retired from international cricket in 2009, Wednesday confirmed that he will play for Brisbane Heat in the Big Bash League (BBL) this...
Read more on Sport Balla
 
OPEC daily basket price falls again
Vienna, Oct 23 (IANS/WAM) The basket of 12 crude oils of the Organization of Petroleum Exporting Countries (OPEC) closed at $81.94 a barrel Wednesday compared to $82.09 Tuesday, the OPEC Secretariat said. The new OPEC...
Read more on Business Balla
 
Lopez to sign multi-million dollar deal?
Los Angeles, Oct 23 (IANS) Singer-actress Jennifer Lopez is reportedly in the final stages of securing a multi-million dollar deal to perform in Las Vegas. The 45-year-old is being offered $350,000 per show at The...
Read more on Celebrity Balla