China's top economic planner, the National Development and Reform Commission (NDRC), announced Wednesday ten measures to promote the investment and stabilize the economic growth in the fourth quarter of this year.
Latest statistics show that China's fixed-asset investment increased 10.3 percent year on year in the first three quarters of the year, which was down 5.8 percentage points from a year ago. The growth rate was also 3.2 percentage points lower than that in the first quarter and 1.1 percentage points lower than that in the first half of the year. When the downward pressure on investment is fairly bigger, NDRC decided to speed up taking measures to expand rational and efficient investment and give a full play to the role of investment in stabilizing economic growth.
Ten measures to be taken include:
To give full play to the role of special construction funds in boosting the investments;
To accelerate implementation of the investment plans within budget of the central government;
To pay high attention to and carefully do a good job on management of important projects;
To accelerate compiling the rolling investment plan in 2016-2020 and increase efforts to reserve projects;
To accelerate construction of the online approval and monitoring platform for investment projects;
To increase efforts to straighten out precipitation investment funds within the central budget.
To launch the investment within the central budget for the next year in advance to support construction of the "three big strategies" ( that is, the "Belt and Road" initiative, Beijing-Tianjin-Hebei coordinated development, and building of the Yangtze River economic belt), the new-type urbanization, and key projects listed in the national 13th Five-Year Social and Economic Development Plan for 2016-2020;
To vigorously put forward the public-private-partnership (PPP) mode.
To persistently streamline administration and delegate power to the lower levels.
To organize 15 inspection teams to supervise the implementation of the investment plans within the central budget, the special construction funds, and other measures to promote investment and stabilize the economic growth nationwide.
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