China issues guidelines to boost private investment in manufacturing

Beijing

CHINA issued guidelines on Monday aimed at boosting private investment in manufacturing, including stepping up fiscal support and "innovative financing" for private firms to gear towards greener development and move up the value chain.

The government will support private firms' fundraising efforts through products such as corporate bonds and asset-backed securities, as well as through fiscal measures such as tax subsidies, according to a statement posted on the industry ministry's weibo account.