Sixteen departments work together to stimulate vitality of private investment to promote transformation of manufacturing industry


It is learnt from the Ministry of Industry and Information Technology (MIIT) on Nov. 20 that 16 departments including MIIT, National Development and Reform Commission, Ministry of Science and Technology and Ministry of Finance jointly issued the “Guiding Opinions on Promoting the Implementation of the Strategy to Build a Manufacturing Power by the Full Play of Private Investment”, breaking the system and mechanism obstacles of private investment through a series of measures and assurance, and playing the leading role of such enterprises in the field of manufacturing to promote manufacturing to the high end.

In terms of innovation, the "Guiding Opinions" puts forward that it will explore and improve the manufacturing innovation system, drive the participation of key private-owned enterprises in the construction of innovation center of manufacturing industry, and establish risk-sharing and benefit-sharing mechanisms which encourage innovation. It will also support qualified private enterprises to set up national technology innovation center and promote the participation of private enterprises in the construction of intellectual property alliance and in the formulation of international standards, national standards and industry standards. At the same time, it will encourage and support private enterprises to participate in the fields of intelligent manufacturing, industrial foundation and so on, and open private capital in the competitive business of basic telecommunications to push forward a faster and more affordable internet connection.

The “Guiding Opinions” states that it will continue to optimize the scope of government investment in the manufacturing sector, treat all types of investors equally, further reduce the burden on enterprises, improve the public service system and increase fiscal and tax support.


In terms of financial support, the state will promote the establishment of a national financing guarantee fund, promote commercial banks to implement due diligence system for credit granting to small and micro enterprises, encourage banks and other financial institutions to carry out supply chain financing to provide financial services for the upstream and downstream industry chains of private enterprises in manufacturing sector, and promote private-owned enterprises to make use of multi-level capital markets for direct financing.

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