Investment from private sector reaches record high
( 2003-12-03 13:54) (Xinhua)
Private investment of nearly
1,000 billion yuan in China in the first nine months of the year has exceeded
the figure for any whole year since this once planned economy loosened some
restrictions on private enterprise eight years ago.
The latest statistics from the All-China Federation of Industry and Commerce
show that the private sector invested a total of 957.7 billion yuan (US$115.4
billion) in fixed assets in the period, up 30.3 per cent on the same period last
year.
Based on a less restricted market and increased economic strength, private
investors set foot in fields that were previously off limits, like heavy
industry, financial services, education and culture industry, media and
publication, roads and urban public infrastructure.
Logistics has become a major new attraction for private investment, according
to the federation survey.
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