National People's Congress Deputy and Chairman of Jiangsu Variety Group, Zan Shengda: Establish and improve cross-departmental working mechanisms to further stimulate the vitality of private investment

Source: Securities Times Network Author: Zang Xiaosong

At this year’s two sessions, NPC Deputy and Jiangsu Variety Group Chairman Zan Shengda proposed suggestions to stimulate private investment and increase its proportion.

Zan Shengda believes that, influenced by changes in the international environment and adjustments in the real estate market, private investment currently faces significant pressure. It should be addressed through systematic and targeted policy measures to unleash its huge potential and vitality.

He made specific recommendations in four areas: institutional mechanisms, financial support, factor guarantees, and business environment.

First, strengthen cross-departmental coordination to ensure policies are effectively implemented. He suggests establishing a sound cross-departmental work promotion mechanism. By enhancing policy guidance and coordination, relevant departments and local governments can refine and implement policies to ensure the “Several Measures to Further Promote Private Investment Development” are truly put into practice and effective, avoiding policy “empty talk.”

Second, innovate financial products and services to meet project funding needs. Zan recommends encouraging financial institutions to innovate financial products and service models. Fully leverage industry investment funds’ guiding role, utilize low-interest loans and other policy tools, and implement “green channel” policies for the financing and mergers of tech companies to provide precise and sufficient funding support for high-quality private investment projects, solving financing difficulties and high costs.

Third, focus on addressing shortcomings in the factor market and strengthen support for innovation talent. To overcome constraints such as talent shortages and insufficient innovation support faced by private enterprises, he suggests accelerating institutional innovation in the factor market. Specific measures include encouraging and supporting capable private enterprises to build major pilot platforms with strong industry driving force to promote technological成果转化; also, support more small and medium private enterprises to accelerate digital upgrades to enhance core competitiveness.

Fourth, improve the closed-loop mechanism for resolving enterprise demands and create a first-class business environment. Zan emphasizes paying attention to the real experiences of private enterprises. He recommends establishing a comprehensive mechanism for enterprise demands and problem-solving. For individual issues, tailor policies and solutions for each enterprise; for common issues, systematically address them at the institutional level. By forming a full-chain service mechanism to help enterprises overcome difficulties, truly connect the “last mile” of policy implementation, and accelerate the creation of a market-oriented, law-based, and international first-class business environment, confidence among private entrepreneurs can be fundamentally boosted, and the vigorous vitality of private investment can be unleashed.

Zan Shengda believes that private investment is key to enhancing the effective growth of market-led investment. Through comprehensive efforts of the above measures, it is expected to increase its share in total fixed asset investment across society, injecting stronger endogenous momentum into China’s high-quality economic development.

(Edited by: Wen Jing)

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