National Development and Reform Commission: Adhere to a market-oriented approach, guide to increase financial support for private investment projects.

August 30, the General Office of the National Development and Reform Commission and others issued a notice on establishing a mechanism to promote private investment funds and ensure elements. The National Development and Reform Commission will push the list of key private investment projects nationwide through the national investment project online approval supervision platform to relevant partner banks, and simultaneously ask the China Banking and Insurance Regulatory Commission to push to other banks and insurance institutions, guiding all institutions to independently review and choose projects that meet the requirements for financing support based on market-oriented and rule-of-law principles. The National Development and Reform Commission will rely on the national investment project online approval supervision platform to assist banks in accurately verifying information such as the legal entities of private investment projects, construction content, approval items, and construction progress, to provide information support for bank loan approvals and help improve the efficiency of loan approvals. The China Banking and Insurance Regulatory Commission and the National Development and Reform Commission will jointly research financing support policies to promote private investment development, guide financial institutions such as banks and insurance companies to innovate financial products and services, establish reasonable private enterprise loan interest rates, strictly regulate fees at all stages of credit financing, continuously improve the facilitation level of private investment project financing, and promote solutions to the difficulties and high costs of private enterprise financing. The original text is as follows: Notice on Establishing a Mechanism to Promote Private Investment Funds and Ensure Elements Development and Reform Commission Investment [2024] No. 705 Provincial, autonomous region, municipalities directly under the Central Government, planning single cities, Xinjiang Production and Construction Corps Development and Reform Commission, natural resources authorities, environmental protection departments (bureaus), financial regulatory authorities: To implement the decisions and arrangements of the Party Central Committee and the State Council, further enhance the pertinence of policy formulation to promote private investment, continue to increase support for private investment projects, and promote private investment work, the National Development and Reform Commission, the Ministry of Natural Resources, the Ministry of Ecology and Environment, and the China Banking and Insurance Regulatory Commission have jointly decided to establish a mechanism to promote private investment funds and ensure elements support based on statistical data, key projects, and policy support. The relevant work notice is as follows. 1. Strengthen statistical data analysis, identify policy focus and connection points The National Development and Reform Commission focuses on key industries and key areas of private investment such as infrastructure, manufacturing, and real estate development, further strengthens statistical data analysis of private investment growth rate, structure, and proportion, based on the investment project data collected and shared by the national investment project online approval supervision platform, synchronously conducts analysis of private investment intention, identifies areas where private investment needs to be supported, and finds shortcomings in private investment to lay a foundation for formulating more precise and practical support policies and measures. 2. Establish a mechanism for regular promotion of key projects in key areas and increase government investment support The National Development and Reform Commission relies on the national platform for promoting projects to private capital, organizes local authorities to continuously publicly promote and strictly review projects, forming a rolling list of projects promoted to private capital. In accordance with the principle of selecting the best from the best, another batch of key projects in transportation, energy, water conservancy, and other key areas will be selected to promote to private capital, further increasing the intensity of centralized promotion. Local authorities will continue to screen private investment projects that meet policy requirements, have large investment scale, and strong demonstration characteristics, and after evaluation and approval, will include them in the national key private investment project database according to procedures, forming a list of national key private investment projects. When selecting national key private investment projects, successful projects promoting private capital in the key areas project list will be given priority. The National Development and Reform Commission will provide government investment support for national key private investment projects through arrangements such as central budgetary investment. 3. Strengthen land and sea use guarantee and coordinate to improve the quality and efficiency of project preliminary work The National Development and Reform Commission will push the list of national key private investment projects with land and sea guarantee needs to the Ministry of Natural Resources, and the Ministry of Natural Resources will provide land and sea guarantee support for national key private investment projects according to the Land Management Law, Marine Use Management Law, and other laws and regulations and national land and space planning. The Ministry of Natural Resources and the National Development and Reform Commission will strengthen collaborative cooperation in the preliminary work of projects, jointly analyze and study the problems in land and sea guarantee for private investment projects, guide private enterprises to make full and effective use of existing land and sea guarantee measures, improve the quality and efficiency of project preliminary work, and use land and sea intensively and efficiently in accordance with the law. 4. Ensure environmental impact assessment elements to promote investment construction and environmental assessment management in a coordinated manner The National Development and Reform Commission will timely push the list of national key private investment projects to the Ministry of Ecology and Environment, and the Ministry of Ecology and Environment will provide environmental assessment support for national key private investment projects in accordance with the Environmental Impact Assessment Law, Regulations on Environmental Impact Assessment for Planning, and other laws and regulations, and according to the requirements for graded classification management of project environmental impact assessments. The Ministry of Ecology and Environment and the National Development and Reform Commission will deepen communication and cooperation, optimize investment decision management and environmental impact assessment approval services based on the environmental assessment requirements of private investment projects, improve policy interpretation and training, guide private enterprises to initiate and carry out environmental impact assessments in the preliminary work stage simultaneously and to the same extent, and solidly promote project preliminary work. 5. Adhere to a market-oriented approach and guide to increase support for private investment projects The National Development and Reform Commission will push the list of national key private investment projects through the national investment project online approval supervision platform to partner banks, and simultaneously ask the China Banking and Insurance Regulatory Commission to push to other banks and insurance institutions, guiding all institutions to independently review and choose projects that meet the requirements for financing support based on market-oriented and rule-of-law principles. The National Development and Reform Commission will rely on the national investment project online approval and supervision platform to assist banks in accurately verifying information such as the legal entities of private investment projects, construction content, approval items, and construction progress, provide information support for bank loan approvals, and help improve the efficiency of loan approvals. The China Banking and Insurance Regulatory Commission and the National Development and Reform Commission will jointly research financing support policies to promote private investment development, guide financial institutions such as banks and insurance companies to innovate financial products and services, establish reasonable private enterprise loan interest rates, strictly regulate fees at all stages of credit financing, continuously improve the facilitation level of private investment project financing, and promote solutions to the difficulties and high costs of private enterprise financing. 6. Strengthen organizational leadership and continuously improve the efficiency of promoting private investment The National Development and Reform Commission, the Ministry of Natural Resources, the Ministry of Ecology and Environment, and the China Banking and Insurance Regulatory Commission will work together to promote the effectiveness of private investment, continue to increase support for private investment projects, and promote private investment projects to promote private investment work efficiently.The Regulatory Bureau and the Development and Reform Commission jointly established a mechanism to promote the protection of private investment funds and resources, regularly holding work meetings to study and resolve common problems in promoting private investment projects. They collaboratively improve policies on investment, financing, and resource protection for private investment projects, and strengthen policy guidance for local governments to effectively enhance the sense of access of private enterprises to relevant reforms and approval services. Departments of local development and reform, natural resources, environmental protection, and financial regulation need to establish and improve relevant mechanisms in accordance with the spirit of this notice, helping private enterprises effectively solve funding and resource difficulties encountered in project promotion, and continuously promote the depth and concreteness of private investment work.Office of the National Development and Reform Commission Office of the Ministry of Natural Resources Office of the Ministry of Ecology and Environment Office of the China Banking Regulatory Commission August 16, 2024 This article is selected from the official website of the National Development and Reform Commission, Edited by GMTEight: Chen Xiaoyi.