China will further open monopolized sectors such as oil and utilities for investment over the next five years, a document from the Communist Party of China (CPC) said Tuesday.
According to proposals released by the CPC Central Committee on formulating the 13th five-year plan (2016-2020) for national economic and social development, more effort will be made to create competitive business in sectors such as oil, natural gas, electricity, telecommunications, transportation and utilities.
Private capital will be encouraged in more industries, the CPC said. Non-state capital will also be introduced to participate in the reforms of state-owned enterprises (SOEs).
In the next five years, the country will deepen SOE reforms to improve vitality, influence and risk-resistance capacity, according to the proposals.
