Recently, sixteen authorities, including the Ministry of Industry and Information Technology ("MIIT"), have jointly issued the Guiding Opinions on Giving Play to the Role of Private Investment in Facilitating the Implementation of the Strategy of Building China into a Manufacturing Power (the "Opinions").
The Opinions state that efforts shall focus on advancing the supply-side restructuring reform, removing obstacles in systems and mechanisms to the private investment, speeding up the pace of enterprises to transform themselves for higher quality and efficiency, developing new growth drivers, restructuring and improving traditional industries, and optimizing the modern industrial system, in order to provide strong and firm support and sustainable momentum for the initiative of building China into a manufacturing power. Also, four principles, to be specific, remaining market-dominated, staying problem-oriented, being collaborative in making progresses, and pushing for fairness and sharing, shall be observed. Accordingly, the Opinions lay down major tasks in eight aspects, such as "boosting the capacity of innovations and development", "making information technology better integrated with industrialization", "participating in the program of improving basic industrial capacities", and "improving the quality and brand to a higher level". In particular, the Opinions expressly state that private investors are encouraged to enter the telecommunications sector and the program of enabling telecommunications operators to increase the network speed and cut relevant fees will be pushed ahead in a deep-going manner. Moreover, privately-owned businesses are encouraged to "go abroad" to get engaged in the construction of overseas infrastructure, and a long-term mechanism will be established for the cooperation between domestic and foreign competitive industries.