China to encourage private investment in medical care, education

February 24, 2017

BEIJING - China is to widen market access to medical care, education, caring for the elderly, culture, sports and other social undertakings for private capital. An array of new policies will be issued shortly to enable a bigger role for private investment in the social sectors, the State newsagency, Xinhua, reproted.

The measures were approved at a State Council executive meeting, chaired by Premier Li Keqiang. They aare seen as the latest push to move funding to particular sectors where new economic drivers are burgeoning.

More private investment in the education, medical care, sports, culture and entertainment sectors would greatly diversify service supplies, which is also part of the country’s supply-side economic reform.

“China’s economic and social development are still progressing unevenly, with weak links mainly in areas like the service sector. It is necessary to boost development from the supply side in order to meet growing public demand,” Premier Li said. (ATI).