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China's cabinet unveils steps to bolster investment

[BEIJING] China's cabinet has unveiled detailed measures, including widening financing channels for firms and establishing new equity funds, to support investment and economic growth.

China will widen financing channels for firms and support asset securitisation, allowing investment projects to raise funds in corporate bond markets, according to guidelines issued by the State Council.

China will establish market-based industrial equity investment funds and encourage participation of banks, insurance firms and the national social security fund, according to the guidelines published on the central government's website.

The steps will help "deepen investment and financial system reforms and give full play to investment in stabilising economic growth, adjusting the economic structure and improving people's livelihood", the cabinet said.

REUTERS