China to open 8 state industries for investment

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Associated Press

Posted on April 24, 2014 at 6:00 AM

Updated Thursday, Apr 24 at 6:00 AM

BEIJING (AP) — China's government says it will open 80 projects in eight state-run industries to private and foreign investors as part of efforts to make its slowing economy more efficient.

The Cabinet announcement is the latest in a series of policy changes aimed at carrying out the ruling Communist Party's promises to give entrepreneurs and foreign investors a bigger role in the state-dominated economy.

The statement late Wednesday gave no indication whether private investors would be given any control over the newly opened industries, which include oil and hydro power.

Other industries cited by the statement were wind power, natural gas storage and distribution, solar power, coal, railways and port operations.

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