China seeking private investment in major projects -Xinhua

BEIJING (Reuters) – China is seeking private investment in 4,894 major projects with total investment of 5.27 trillion yuan ($717.69 billion), Xinhua news agency said, citing the top state planner.

The projects mainly involve urban construction, highways, ports, agriculture and tourism, the agency quoted the National Development and Reform Commission as saying.

China has in recent weeks unveiled a series of policy measures to aid private businesses after the sector has been bruised by COVID-19 curbs and a wide-ranging regulatory crackdown that targeted industries from technology to property.

Fixed-asset investment by private companies shrank 0.5% in the first seven months of the year, bigger than the 0.2% decline for the first half.

($1 = 7.3430 Chinese yuan renminbi)

(Reporting by Kevin Yao; Editing by Michael Perry)