November 7, according to the NDRC website, the NDRC issued on further improving the policy environment to increase efforts to support the development of private investment opinions, the full text of the opinion is as follows:

Provinces, autonomous regions, municipalities directly under the Central People's Government, Xinjiang Production and Construction Corps, the State Council ministries and commissions, the subordinate agencies, the All-China Federation of Industry and Commerce, the China State Railway Group Co. The comprehensive construction of a modern socialist country must solidly promote high-quality development, and must completely, accurately and comprehensively implement the new development concept and adhere to the direction of socialist market economy reform. The CPC Central Committee and the State Council clearly require that efforts be made to do a good job of the "six stabilizers" and "six guarantees", focusing on the launch of a multi-purpose project that can not only make up for the shortcomings of the boards and adjust the structure, but also bring consumption and expand employment, and promote effective investment, especially private investment, to achieve reasonable growth. Private investment accounts for more than half of all social investment, adhere to the "two unwavering", increase policy support, market approach, reform initiatives to stimulate the vitality of private investment, is conducive to mobilizing the enthusiasm of all parties to invest in stabilizing market expectations, increase jobs, promote high-quality development of the economy, and help achieve Chinese-style modernization. To implement the spirit of the twentieth CPC National Congress, to further improve the policy environment, increase efforts to support the development of private investment, agreed by the State Council, the following views are proposed.

One, play the role of major projects and government investment prying

(a) support private investment to participate in 102 major projects and other projects. According to the "14th Five-Year Plan" 102 major projects, major national strategies and other key construction tasks, select a certain level of income, relatively mature conditions of the project, a variety of ways to attract private capital participation. Identified transportation, water conservancy and other projects to speed up the promotion of private investment in the bidding on an equal footing. Support private enterprises to participate in the construction of railroads, highways, ports and terminals and related stations and service facilities. Encourage private investment to focus on urban infrastructure and other key projects through a comprehensive development model to participate in the construction of key projects to improve the level of digitalization, networking and intelligence. Encourage private enterprises to increase investment in energy-saving and carbon reduction fields such as solar (000591) power generation, wind power, biomass power generation and energy storage. Encourage private investment in key engineering projects to actively take the work to expand employment capacity. (National Development and Reform Commission, the Ministry of Housing and Urban-Rural Development, the Ministry of Transportation, the Ministry of Water Resources, the National Energy Board and other relevant departments of the State Council, China State Railway Group Corporation and the regions in accordance with the responsibilities of the division of labor)

(ii) play the role of the government's investment guidance drive. Comprehensively sort out the investment support policies applicable to private investment projects, and increase publicity and promotion. In arranging various types of government investment funds, private enterprises are treated equally, and actively utilize investment subsidies, loan interest subsidies and other means to support the construction of eligible private investment projects. Make good use of government-funded industrial guidance funds to increase support for private investment projects. Promote the standardized development and sunny operation of the government and social capital cooperation (PPP) model, and guide private investment to actively participate in infrastructure construction. In the field of government investment bidding, fully implement the bond (insurance) instead of cash payment of bidding, performance, project quality and other deposits, and encourage bidders to exempt private bidders from bidding guarantees. (National Development and Reform Commission, the Ministry of Finance, led by the relevant departments of the State Council and the regions in accordance with the division of responsibilities)

(3) support private investment in science and technology innovation project construction. Encourage private capital to actively participate in the construction of national industrial innovation centers, national technology innovation centers, national energy research and development innovation platforms, national engineering research centers, national enterprise technology centers and other innovation platforms, and support private enterprises to undertake major national scientific and technological strategic tasks. Encourage central enterprises and leading enterprises in the industry to strengthen the application of new products and technologies to private enterprises, and guide private enterprises to participate in the supply chain construction of major projects. In the bidding of projects related to stabilizing the industrial chain supply chain, large, medium and small-sized enterprise consortiums will be given an inclination and private enterprises will be encouraged to participate. Support the standardized, healthy and sustainable development of the platform economy, and encourage platform enterprises to accelerate the construction of key projects in the fields of artificial intelligence, cloud computing, blockchain, operating systems and processors. (The National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Industry and Information Technology, the State-owned Assets Supervision and Administration Commission of the State Council, the National Energy Administration and other relevant departments of the State Council and the regions in accordance with their respective responsibilities)

Two, to promote the acceleration of the implementation of private investment projects

(d) Deepen the reform of the "release of administrative services". Strengthening the whole chain of supervision before, during and after the event, carrying out a comprehensive assessment of the effectiveness of market access, optimizing and improving the negative list of market access, and improving the mechanism of supervision and handling of key cases, continuously breaking down barriers to market access and creating a fair market access environment. It will continue to regulate and improve the evaluation mechanism of China's business environment, which is oriented to the satisfaction of market participants and the public, and continuously optimize the market-oriented, rule-of-law-oriented and internationalized business environment. Supporting regions to focus on key areas of private investment such as manufacturing, science and technology innovation and service industries, studying and introducing targeted and specific support measures, establishing a regular communication mechanism with private investment projects in line with the direction of policy encouragement, closely following up and proactively providing services, coordinating and resolving key issues, and creating a policy environment conducive to the development of private investment. Give full play to the role of the National Online Approval and Supervision Platform for Investment Projects to realize online project declaration, parallel approval, information disclosure and collaborative supervision, and continuously improve the efficiency and service quality of private investment projects. (The National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Industry and Information Technology and other relevant departments of the State Council and the regions in accordance with the division of responsibilities)

(e) Accelerate the preliminary work of private investment projects. Accelerate the approval of private investment projects, planning and filing, site selection, land and sea, environmental impact assessment, construction permits and other preliminary work procedures, the implementation of the construction conditions. In line with laws, regulations and policy requirements, in promoting economic and social development, promote industrial transformation, accelerate technological progress, etc. have a strong driving force, large-scale private investment projects, and actively included in the key investment projects in each region library, strengthen the land (sea), energy, water, capital and other elements of protection, to promote the implementation of the project on the ground. (National Development and Reform Commission, the Ministry of Natural Resources, the Ministry of Ecology and Environment, the Ministry of Housing and Urban-Rural Development, the China Banking and Insurance Regulatory Commission, the National Energy Administration and other relevant departments of the State Council and the regions in accordance with their respective responsibilities)

(F) Improve and perfect the mechanism of the government's commitment to keeping its promise. In the process of encouraging and attracting private investment projects to land, we must effectively strengthen the construction of political integrity, to avoid over-promise, do not open the "blank check". Local governments at all levels should strictly fulfill the policy commitments made in accordance with the law and regulations, and the problem of delinquent accounts of small and medium-sized enterprises should be resolved as required. Increase the strength of punishment for breach of trust, the government defaults on payments and refuses to fulfill the judicial decision and other breach of trust information into the national credit information **** enjoyment platform and open to the public. (National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Finance and other relevant departments of the State Council and the regions in accordance with their responsibilities)

Three, to guide the high-quality development of private investment

(VII) to support the transformation and upgrading of private investment in the manufacturing industry. Encourage private enterprises based on China's industrial scale advantages, supporting advantages and some areas of first-mover advantage, and actively increase investment in advanced manufacturing, and continue to enhance core competitiveness. Encourage private enterprises to apply advanced technology, accelerate the renewal and upgrading of equipment, promote the traditional industry high-end, intelligent, green transformation and upgrading, and consolidate the leading position of advantageous industries. Guiding private enterprises in the manufacturing industry to comply with market changes and high-quality development requirements, give full play to their own advantages, and actively develop new technologies, launch new products, and build a new engine of growth. (The National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Industry and Information Technology and other relevant departments of the State Council and the regions in accordance with the division of responsibilities)

(h) Encourage private investment to rely more on innovation-driven development. Guide private capital to market-oriented, play their own positive role in grasping the direction of innovation, cohesion of talent, continue to increase investment in research and development, and promote innovation and entrepreneurship to create in-depth development. Support the establishment of mixed ownership industrial technology research institutes in regions with the conditions to serve regional key *** technology development. Create a favorable environment conducive to the growth of science and technology-based small and medium-sized micro-enterprises, encourage private capital to participate in the construction and operation of 5G applications, data centers, industrial Internet, industrial software and other new types of infrastructure and related areas of investment, develop the digital economy with data resources as the key elements, and actively cultivate new business forms and new models. (The National Development and Reform Commission, the Ministry of Industry and Information Technology and other relevant departments of the State Council and the regions are responsible according to their respective responsibilities)

(ix) Guide private investment to actively participate in rural revitalization. Under the premise of fully protecting the rights and interests of farmers, encourage and regulate private capital to rural areas to develop seedling breeding, high-standard facility agriculture, large-scale breeding and other modern breeding industries, and participate in the construction of high-standard farmland; support for private enterprises to invest in new industries and new forms of rural areas, and promote the integration of agriculture with culture, sports and health and pension industries, and the development of leisure agriculture and rural tourism industries in accordance with local conditions and the cultivation of growing specialty industries. It encourages private capital to participate in the construction of cultural industry-enabled rural revitalization, and supports projects such as advantageous characteristic industrial clusters, modern agricultural industrial parks, strong towns in agricultural industry, as well as the construction of national demonstration parks for the integrated development of rural industries, so as to stimulate the vitality of rural industrial development. (The National Development and Reform Commission, the Ministry of Civil Affairs, the Ministry of Agriculture and Rural Affairs, the Ministry of Culture and Tourism and other relevant departments of the State Council and the regions are responsible in accordance with their responsibilities.)

(10) Explore the development of environmental, social and governance (ESG) evaluation of investment projects. The ESG evaluation work should be forward-looking and guiding to help private enterprises better predict, prevent and control the environmental, social and governance risks that may arise from investment projects, standardize investment behavior and improve investment quality. (Led by the National Development and Reform Commission, the relevant departments of the State Council and the regions in accordance with the division of responsibilities)

Four, encouraging private investment in a variety of ways to revitalize the stock of assets

(xi) to support the private investment projects to participate in the field of infrastructure real estate investment trusts (REITs) pilot. In the issuance of infrastructure REITs, enterprises of all types of ownership on an equal footing, accelerate the launch of private investment in specific projects, the formation of demonstration effects, and enhance the confidence of private enterprises to participate. Actively do a good job of policy interpretation and publicity and guidance to enhance the enthusiasm of private enterprises to participate in the pilot infrastructure REITs, come up with high-quality projects to participate in the pilot, reduce corporate gearing, realize asset-light operations, and enhance the ability to reinvest. (SEC, National Development and Reform Commission, led by the relevant departments of the State Council and the regions in accordance with the division of responsibilities)

(xii) guide private investment to actively participate in the revitalization of state-owned stock assets. Encourage private capital to participate in the revitalization of state-owned stock assets through government and social capital cooperation (PPP) and other means. Private capital is attracted to participate in the construction and operation of infrastructure projects by carrying out mixed ownership reform, introducing strategic investors and professional operation and management parties. For old factory buildings, cultural and sports stadiums, idle land and other assets that have been idle for a long time but have potential development and utilization value, assets can be upgraded and transformed and positioned in such a way as to fully explore the value of the assets and attract private investment participation. (The National Development and Reform Commission, the Ministry of Finance, the Ministry of Natural Resources, the Ministry of Culture and Tourism, the State Council State-owned Assets Supervision and Administration Commission and other relevant departments of the State Council and the regions in accordance with their respective responsibilities)

(xiii) Attracting private investment by means of a combination of revitalization of stock and reconstruction and expansion. Encourage private investment to participate in the revitalization of old urban resources, according to local conditions to promote the transformation of old urban districts, support through accurate positioning, improve the quality, improve the use, enrich the function of the stock of assets, enhance the effectiveness of assets. Promote the sinking of sewage treatment plants, subway property, subway space above and below the ground of transportation hubs, and the comprehensive development of highway passenger stations and urban public **** transportation station sites according to local conditions, so as to broaden the sources of income, increase the value of the comprehensive utilization of assets, and enhance the attractiveness of private investment. (National Development and Reform Commission, the Ministry of Natural Resources, the Ministry of Housing and Urban-Rural Development, the Ministry of Transportation and other relevant departments of the State Council and the regions in accordance with the division of responsibilities)

(xiv) Encourage private enterprises to revitalize their own stock of assets. Encourage private enterprises to revitalize their assets through property rights trading, mergers and acquisitions, acquisition and disposal of non-performing assets, and strengthen the optimization and integration of stock assets. Guiding private enterprises to revitalize the stock of assets to recover funds for the construction of new projects that contribute to major national strategies and are in line with the direction of policy incentives, forming a virtuous cycle of investment. (The National Development and Reform Commission, the People's Bank of China, the China Banking and Insurance Regulatory Commission and other relevant departments of the State Council and the regions in accordance with their respective responsibilities)

V. Strengthening support for private investment financing

(XV) Increase the policy support for private investment project financing. Strengthening the application of enterprise-related credit information***, guiding financial institutions to make accurate credit portraits of private enterprises, and objectively and reasonably judging enterprise risks. Establish and improve the social capital investment and financing cooperation and docking mechanism, through the project docking meeting and other ways to build a platform conducive to the private investment projects and financial institutions to communicate and connect. Give full play to the role of governmental financial guarantee institutions, provide financial guarantee support for qualified private investment projects in the transportation, catering, accommodation and tourism industries in accordance with the principle of marketization, and expand the scale of financial guarantee business for private enterprises. (The National Development and Reform Commission, the Ministry of Finance, the Ministry of Culture and Tourism, the People's Bank of China, the China Banking and Insurance Regulatory Commission and other relevant departments of the State Council and the regions in accordance with their respective responsibilities)

(p) Guiding financial institutions to actively support private investment projects. Promote financial institutions in accordance with market-oriented principles to actively use the renewal of loans, loan extension, adjustment of repayment arrangements to support private investment projects, to avoid the normal construction of the project due to the withdrawal of loans, loan breaks affect. Improve the bond financing support mechanism for private enterprises, and increase support for private enterprises in bond financing. Guiding financial institutions to innovate financial products and services, reducing the level of interest rates on loans to private enterprises and financing-related expenses, and increasing support for qualified private investment projects. Supervise financial institutions to waive bond financing transaction fees for private enterprises as much as possible. (The National Development and Reform Commission, the People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and other relevant departments of the State Council and the regions in accordance with the division of responsibilities)

(xviii) Supporting private enterprises to innovate in financing methods. Encourage state-owned enterprises through investment in shares, joint investment, mergers and acquisitions and reorganization, equity integration with private enterprises, strategic cooperation, resource integration, investment in new key areas of the project. Support private capital to develop venture capital and increase support for innovative small and medium-sized enterprises. Support qualified high-tech and "specialized and new" enterprises to carry out the pilot project of foreign debt facilitation line. (National Development and Reform Commission, the Ministry of Industry and Information Technology, the State Council State-owned Assets Supervision and Administration Commission, the Foreign Exchange Bureau and other relevant departments of the State Council and the regions in accordance with the division of responsibilities)

Sixth, to promote the healthy development of private investment

(xviii) the in-depth implementation of various policies to lower the cost. The Party Central Committee and the State Council on the cost of the implementation of the implementation of the decision-making arrangements, smooth policy implementation of the "last kilometer", and continue to promote a reasonable reduction in the burden of corporate taxes and fees, encourage financial institutions to make reasonable concessions, and promote the reduction of corporate energy, land, housing rent and other costs. Promptly study and solve outstanding problems, effectively reduce the production and operation costs of private enterprises, and promote the enjoyment of policy dividends. (The National Development and Reform Commission, the Ministry of Finance, the Ministry of Natural Resources, the Ministry of Housing and Urban-Rural Development, the People's Bank of China, the China Banking and Insurance Regulatory Commission, and other relevant departments of the State Council and the regions in accordance with their respective responsibilities)

(xix) guiding private investment in scientific and reasonable decision-making. Guiding private enterprises to correctly view the economic situation at home and abroad, accurately understand the intentions of national policies, objectively recognize the difficulties and challenges, explore new investment opportunities, and identify the direction of future development. Private enterprises are guided to strengthen investment project management, master theories and methods of investment decision-making, continuously improve the scientificity and accuracy of investment decisions, enhance investment efficiency, adhere to the law and comply with production and operation, and realize healthy and sustainable development. (The National Development and Reform Commission and other relevant departments of the State Council, the All-China Federation of Industry and Commerce and all regions are responsible for their respective responsibilities)

(20) Support private enterprises to strengthen risk prevention. Encourage private enterprises to focus on industry, refine their main business, and enhance their core competitiveness, and avoid unilateral pursuit of hotspots, blindly expanding investment and increasing operational risks. Guide private enterprises to live within their means, consciously strengthen credit management, reasonably control the scale and proportion of debt financing, avoid high leverage investment beyond their capacity, and prevent major risks such as capital chain breakage. (The National Development and Reform Commission, the Ministry of Industry and Information Technology, the People's Bank of China, the China Banking and Insurance Regulatory Commission and other relevant departments of the State Council and the regions are responsible according to their respective responsibilities)

(xxi) Further optimize the social environment for private investment. Implement policies and measures to encourage the development of the private economy, and promote the development and growth of the private economy. According to the law to protect the property rights of private enterprises and entrepreneurial rights and interests, in order to prevent disorderly expansion of capital under the premise of the establishment of a "traffic light", the introduction of a number of "green light" investment cases, standardize and guide the healthy development of capital. We will do a good job of assessing the consistency between the proposed policies and the macro policy orientation, and prevent the introduction of policies and measures that affect the enthusiasm of private investment. Strengthen publicity and guidance, respond to market concerns in a timely manner, stabilize market expectations, enhance private investment confidence, and promote the high-quality development of private investment. (The National Development and Reform Commission and other relevant departments of the State Council, the All-China Federation of Industry and Commerce and various regions are responsible for their respective responsibilities)