China to boost overseas investment by private sector
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China will encourage the outbound investment directed by the country's private sector, as most of its overseas assets are currently government-invested, Yi Gang, director of the State Administration of Foreign Exchange, said at a news press Tuesday. during the sessions of the parliament.
Chinese funds, banks and other financial institutions in private sector who have overseas assets play a supplementary but significant role in China's overseas investment. Private and government-directed investments have different functions and focus on different areas, and this helps a lot in enhancing efficiency and avoiding risk as a whole.
"Currently, it is the government who mainly advances overseas investment, so we need to give a boost to investment by private sector," he asserted.
