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Promoting sustained, healthy, and high-quality development of the private economy is a major long-term policy direction for the country. The 'National Private Capital Project Promotion Platform' established by the National Development and Reform Commission shows that as of July 4, a total of 11,842 private capital projects are currently being promoted nationwide, with a cumulative investment of 10.19 billion yuan. In addition, multiple regions across the country have recently released public lists of private capital projects, further boosting investor confidence and expanding the scope of private investment.
Multiple Departments Support Policies to Continuously Stimulate Private Investment Vitality
At the national level, China's first foundational law governing private economic development — the 'Private Economy Promotion Law of the People’s Republic of China' — took effect on May 20 this year. Under the law, the state implements a unified national market access negative list system, allowing all types of private economic organizations to legally and equally enter sectors beyond the negative list, including participation in major national strategies and key projects.
To continuously stimulate private investment vitality, the National Development and Reform Commission has further increased its work intensity. Recently, it organized and centralized the release of over 3,200 new private capital projects with a total investment exceeding 3 billion yuan. These projects focus on key areas such as transportation and logistics, energy, water conservancy, new infrastructure, urban infrastructure, environmental protection, grain and food supply chains, and manufacturing, and are publicly promoted through the 'National Private Capital Project Promotion Platform'.
In addition, multiple departments have introduced a series of targeted policies in areas such as removing market barriers, expanding development space, and ensuring payment guarantees, strengthening enterprise confidence in development.
In removing market access barriers, restrictions on market entry have been further relaxed. The number of items listed in the 'Negative List for Market Access (2025 Edition)' has decreased from 117 to 106 compared to the 2022 version. The government actively promotes equal participation of private enterprises in bidding and tendering — from January to April this year, the bid success rate for private enterprises rose by 5 percentage points; for projects under one million yuan, private enterprises accounted for over 80% of the total number of winning bids.
In expanding development space, the government supports private enterprises’ participation in 'dual-essential' construction and 'dual-new' initiatives, accelerating the establishment of long-term mechanisms for private sector involvement in major national projects. Significant progress has already been made in nuclear power, railways, and other fields. At the same time, strong support is given to private investment in emerging industries and future-oriented sectors, encouraging them to take on major national technological R&D tasks.
In safeguarding payment guarantees, clear requirements are set for central authorities, public institutions, and large enterprises to pay small and medium-sized enterprises within 60 days from the date of contract execution for goods, works, and services.
Public Announcement of Projects: Nationwide Release of Private Capital Project Lists
At the local level, multiple regions have recently released public lists of private capital projects, promoting open access to competitive infrastructure sectors for all types of business entities.
Beijing Municipal Development and Reform Commission, in coordination with various districts and departments, has screened and selected a batch of projects aligned with Beijing’s city functions, featuring clear investment return mechanisms and specific funding needs, and announced them publicly for private investment. This first batch includes 119 key projects with a total investment of approximately 12.44 billion yuan and a projected attraction of social capital financing of about 4.29 billion yuan. These projects cover nine sectors: technological innovation, advanced manufacturing, commercial services, infrastructure, public services, tourism and sports, urban renewal, agriculture and rural revitalization, and housing construction.
Shandong Provincial Development and Reform Commission recently released the 2025 list of publicly promoted private capital projects — 75 major projects with a total investment of 3.3 billion yuan, focusing on transportation, energy, water conservancy, new infrastructure, and urban construction. This batch features four distinctive characteristics: First, alignment with policy guidance — local governments will prioritize allocation of key resources, offering financial support, land use guarantees, and other policy incentives. Second, government-led promotion — stronger intent to attract private capital, with plans to fully leverage private enterprises’ advantages in mechanism, innovation, management, and operation to improve project efficiency. Third, appropriate investment scale — extensive feasibility studies have already been conducted, enabling private capital to participate directly in project construction. Fourth, strategic orientation — these projects are designed to drive industrial upgrading and high-quality economic growth.
Shanxi Provincial Development and Reform Commission publicly released the second batch of 2025 private capital project lists — 60 projects in total, with a planned total investment of 9.522 billion yuan and an estimated attraction of 4.602 billion yuan in private capital. The list includes 13 industrial projects (including key industrial chain supply projects), 19 major engineering and shortcoming-repair projects, and 28 special operating projects funded by user payments.
Local governments’ large-scale promotion of private capital projects has become a critical signal for deepening market-oriented reform and optimizing resource allocation. The core goal of this round of announcements lies in 'attracting capital' and 'drawing intelligence' in parallel. By inviting private enterprises to participate, the government leverages their agility, innovation capacity, and operational efficiency to enhance the construction and operational performance of major projects — particularly in frontier fields such as technological innovation and new infrastructure. Private capital will thus become a vital driver for industrial upgrading and high-quality economic development.
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