China to private enterprises: invest in cross-border infrastructure like AIIB is doing
As the global economy slows and international development aid declines, developing countries are increasingly constrained by limited public resources for connectivity investments, Lan said at the meeting in Beijing on Wednesday.
'Mobilising the potential of private capital for cross-border infrastructure, and building sustainable financing mechanisms, have become pressing priorities,' he noted.
China's
Private Economy Promotion Law went into effect last month, encouraging private enterprises to invest in infrastructure, Lan said, noting that the country would continue to improve its systems and environment to welcome more private sector participation in cross-border connectivity projects.
To ensure that the private sector remains confident and willing to invest, Lan also called for efforts to reduce lingering concerns about risks related to geopolitics and defaults, and to improve ratings and expected returns of infrastructure projects through coordination with other regional development institutions.
And the further mobilisation of private capital could help overcome the bottleneck of insufficient public investment for infrastructure development, he said.
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