1 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 Communist...

Filed under: news

Full Story below YouTube Videos



22 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.


Source: IANS


Don't miss ...


blog comments powered by Disqus

Latest stories

EmpowHer Institute to Honor Four Amazing and Unstoppable Women at the Annual Girls to Greatness Luncheon Saturday, April 26, 2014 – the Beverly Hills Hotel
Honorees include: Musette Buckley – Senior V.P., Warner Bros. Pictures; The Honorable LaDoris (Dot) Harris, Director of the Office of Economic Impact and Diversity at the United States Department of Energy; Renata Simril, Senior V.P. of External Affairs at The Los Angeles Dodgers; Denita Willoughby, Regional V.P. of External Affairs at Southern California Gas Company.
DDA Seeks Businesses and Tenants for "Suite Spot @ Sugar Hill"
The City of Sugar Hill Downtown Development Authority is recruiting businesses and tenants for sought after downtown area. Come grow with the City of Sugar Hill.
Obama Has Legal Duty to Provide Clemency for Drug Offenders Says Federal Clemency Advocacy Center
Federal criminal justice reform advocates support the Obama administration clemency review plans but say that much more is needed. Advocates say that the President has a legal and moral duty to commute the sentences of tens of thousands of people in prison for mandatory minimum sentences.
The Academic Advantage Reaches a Settlement with the New York U.S. Attorney’s Office Over New Employees’ Fraud
New York, NY, April 22, 2014 --(PR.com)-- The Academic Advantage reached a settlement to pay $2 million after an investigation regarding allegations of misconduct of federal funds in the government-funded tutoring...

Latest from the Network

Prefabulous World: Energy-Efficient And Sustainable Homes Around The Globe
Recently, I interviewed Sheri Koones, author of the new book titled Prefabulous World: Energy-Efficient and Sustainable Homes Around the Globe, which features sophisticated examples of eco-friendly home design in...
Read more on Business Balla
Note to Airlines: Start Talking to Your Customers
When it comes to air travel, there’s certainly no shortage of bad customer stories. A report released last week by the U.S. PIRG Education Fund pored through five years of airline passenger complaints to the Department...
Read more on Business Balla
Apple Splits Stock 7-For-1, Will Splash $130B In Cash On Investors
Talk about burying the lede. Apple announced a 7-for-1 stock split Wednesday, but not until the last sentence of a press release heralding an upsized capital return program to $130 billion and alongside the company’s...
Read more on Business Balla
John Baker's Desire2Learn Is Leading Education Transformation
A Series of Forbes Insights Profiles of Thought Leaders Changing the Business Landscape:  John Baker, Founder and CEO, Desire2Learn… Desire2Learn (D2L) is transforming education through technology.  The Waterloo,...
Read more on Business Balla
Fitness For Duty: Exercise Can Make You A Better Leader
Okay. Even with a few late snows, spring is officially here. Birds are chirping. Trees and flowers are blossoming, The weather’s warming up. We’re running out of excuses for not beginning some sort of regimen to trim...
Read more on Business Balla
One League's Strategy To Keep Youth Sports Fun: Let Kids Play In Costumes
The Arkansas United Soccer Club has come upon, I think, what is a great idea for any youth sports organization preaching that it wants kids to have fun: putting on games in which its players dress in costume, rather...
Read more on Business Balla
New Research Reveals How Africa Tweets
Twitter activity in Africa during the last quarter of 2013 peaked on the day of Nelson Mandela’s death, according to How Africa Tweets, a new study analyzing Twitter activity on the continent. In an interview with Allan...
Read more on Business Balla
Succession Planning Is Every Leader's Job
Though most companies conduct some sort of succession planning process, few executives feel that they have adequate bench strength. As a result, according to a 2009 study, only a little more than 60% of first level...
Read more on Business Balla
Is Amazon's HBO Deal All It's Cracked Up To Be?
Amazon.com made a big deal Wednesday morning about its licensing agreement with Time Warner's Home Box Office. It may be a while before the agreement is really meaningful. The deal allows Amazon’s Prime Instant Video...
Read more on Business Balla
Best Of FORBES: Amazon-HBO Deal And Should Amgen Break Itself Up?
FORBES hosted a Twitter Chat on Wednesday with author and contributor Micheline Maynard. She answered reader’s questions on the American auto industry. Read the recap here and check out her new e-book, Curbing Cars: ...
Read more on Auto Balla
Auto Balla Sexy Balla Sport Balla TV Balla Politics Balla Movie Balla Apple Balla Business Balla Ad Balla Celebrity Balla