1. China should further open state sector to boost private investment-Statistics bureau

China should further open state sector to boost private investment-Statistics bureau

China needs to further open up its state sector in order to arrest a steep slowdown in private sector investment, the statistics bureau said on Monday.

By: | Beijing | Published: June 13, 2016 12:46 PM
China Private sector fixed asset investment growth slowed to 3.9 percent in the January to May period, down from 5.2 percent for January to April and compared to over 10 percent growth last year. (Reuters)

China needs to further open up its state sector in order to arrest a steep slowdown in private sector investment, the statistics bureau said on Monday.

Falling prices and industrial overcapacity have impacted private-sector fixed asset investment, said Sheng Laiyun, a spokesman for the National Bureau of Statistics at a press conference.

Private sector fixed asset investment growth slowed to 3.9 percent in the January to May period, down from 5.2 percent for January to April and compared to over 10 percent growth last year.

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Sheng also said the employment situation was better than expected in May and that 5.77 million new jobs were created in January to May.

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