China State Planner NDRC: Will guide and strengthen financing support for private-invested projects

Anil Panchal FXStreet

Early Monday in Asia, China state planner National Development and Reform Commission (NDRC) issued a notice to promote the high-quality development of private investment.

The Chinese State Planner also showed readiness to spur the activity of private investment, per Reuters. In doing so, the NDRC pledges to encourage participation in some projects of transport, water and clean energy, as well as in new infrastructure and modern agriculture.

China’s NDRC further detailed the plan to boost private investment while saying that it will select several sub-sectors with large market space, strong development potential, in line with major national strategies.

“We will guide and strengthen financing support for private-invested projects,” added the key decision body from China.

The NDRC also showed readiness to help the private enterprises make better investment decisions while also pushing for more private capital to participate in the construction of national major projects and projects for replenishment of key industry chain and supply chain projects.

Market reaction

AUD/USD remains pressured around 0.6730, pays a little heed to the news as market players remain cautious ahead of the key week.

Also read: AUD/USD bears approach 0.6700 on mixed Australia PMI, focus on US data, Fed for clear directions

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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