Richard McGregor: Beijing eases rules for private investment

From The Financial Times:

China has opened up a number of state-owned and once-strategic sectors of its economy to local and foreign , in a decision that will extend the role of entrepreneurs in industries that have long been monopolised by the government.

The sweeping reform – which was announced in a policy document released by the State Council, China’s cabinet – will legalise private investment in sectors including power, rail, aviation and oil.

Private investment will now also be allowed in the growing local defence industries, including military research companies and weapons manufacturers, the document said.

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