(Yicai) Jan. 2 -- To spur private investment, China’s state planner recently opened the application process for key private investment projects, aiming to help non-state capital invest quickly and effectively.

The platform to promote projects to private capital, launched on Sept. 8, has 6,067 qualified entries from around China worth CNY5.97 trillion (USD838.4 billion), according to the National Development and Reform Commission’s latest data. Some 1,509 projects, worth CNY1.95 trillion, have already secured private funding.

The NDRC will work with government agencies to enhance land guarantees for key private investment projects, promote projects to financial institutions through the venture lending mechanism for better financial support, and coordinate with regions to speed up paperwork procedures to enable early implementation.

China should greatly expand the effective investment space, stimulate the vitality of private investment, give better play to the leading role of government investment, and hike investment in developing future industries, the transformation of traditional sectors, new infrastructure, and breakthroughs in key core technologies, NDRC Chairman Zheng Shanjie said on Dec. 26.

In the 11 months ended Nov. 30, total private investment, excluding that in real estate development, rose 9.1 percent from a year earlier. Private investment in manufacturing climbed 9.2 percent, while that in infrastructure jumped 14.2 percent.

China should build a unified national platform to promote projects to private capital and encourage private capital to participate in the construction of major projects, Zheng noted.

Editor: Martin Kadiev