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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