The construction of major projects is the "ballast stone" for stable economic operation and an important starting point for expanding effective investment. Since the beginning of this year, major projects in many places have been started one after another, intensively, according to the "** reporter according to incomplete statistics of public information, as of February 26, nearly 10 provinces including Beijing, Jiangsu, Zhejiang (including municipalities and autonomous regions, the same below) have held a ceremony for the commencement of major projects. At the same time, nearly 20 provinces such as Tianjin, Shanghai, and Guangdong have also announced a list of key projects in 2024 or made arrangements for the construction of major projects in 2024.
It is worth mentioning that in the investment and construction of major projects in various places, private investment has frequently appeared. For example, in the 2024 "Thousands of Trillions" major projects held in Zhejiang Province, there are 87 industrial projects with private enterprises as the main investment body, with a total investment of 181.3 billion yuan, accounting for nearly half of the projects, a new high. For another example, among the major projects that will start construction in Hubei in the first quarter of 2024, the number of private investment projects will account for 621%；Among the key projects of Beijing's "three 100" cities in 2024, social capital investment projects account for more than half of the total, and the investment amount accounts for more than 70%; Among Tianjin's key projects in 2024, the investment in key construction projects dominated by social capital accounts for more than 80%.
Private investment is an indispensable and important force for China's economic development", Guo Yiming, director of investment consulting of Jufeng Investment Advisory, said in an interview with ** reporter that from 2012 to 2022, private investment accounted for more than 50% of all fixed asset investment, occupying a major and key role in domestic investment.
Wang Peng, an associate researcher at the Beijing Academy of Social Sciences, said in an interview with the reporter that private investment funds are diverse, have greater flexibility and efficiency in fund raising, and can quickly respond to the capital needs of major projects. In addition, private investors are usually closer to the market, and can more accurately grasp the pulse of the market when making investment decisions, and select projects with innovative and growth potential, which will help promote the technological progress and industrial upgrading of major projects.
In fact, in order to give full play to the important role of private investment in expanding effective investment and stabilizing economic growth, various localities are also continuing to take a variety of measures to stimulate the enthusiasm of private investment.
In terms of establishing a private investment project database, in 2024, Jiangsu will establish a private investment key industry project database, with 200 projects in the database, including 163 strategic emerging industries, 37 future industries, and an annual planned investment of 652200 million yuan; Guizhou has established a database of key private investment projects in the province, and 2,000 key private investment projects have been included in the management of the provincial key private investment project database.
Relevant support policies have also been continuously introduced: in February 2024, Anhui Province issued the "Anhui Province Effective Investment Special Action Plan (2024)", in terms of effectively stimulating the vitality of private investment, it proposed to "establish a provincial key private investment project library, strengthen factor guarantee and financing support", "set up a special fund to promote private investment guidance, and support private investment in places with fast growth, high proportion, strong vitality and practical measures"; In the same month, the "2024 Zhejiang Province Expansion and Effective Investment Policy" was promulgated, which clearly "ensured that the growth rate of private investment in the province in 2024 and the proportion of private investment in fixed asset investment increased compared with the whole year of 2023", and proposed to "increase support for private investment" and "promote major projects to private capital on a regular basis around the list of three types of projects, including major projects and shortcomings, key industrial chains, and franchise projects paid by users".
However, private investment also faces some difficulties in participating in the construction of major projects. Bai Wenxi, vice chairman of the China Enterprise Capital Alliance, told the reporter: "At present, private capital is facing the problem of difficult financing and financial pressure caused by expensive financing in the process of participating in major projects. ”
In response to the financing challenges of private enterprises, Wang Peng believes that financial products and service models can be innovated, such as the development of inclusive finance and green finance. In addition, private capital can be guided to participate in major projects in an orderly manner by setting up investments, providing guarantee support, etc.
Liang Haiming, dean of the "Belt and Road" Research Institute of Hainan University, also believed in an interview with the reporter that to further boost the enthusiasm of private investment to participate in major projects, local enterprises can provide more investment opportunities and preferential policies, including lowering the market access threshold, optimizing the business environment, simplifying the administrative approval process, and providing tax incentives to attract more private enterprises to participate in the construction of major projects. At the same time, all localities should also establish a closer cooperation mechanism with private enterprises and jointly participate in the construction of major projects. ** It can provide project resources and policy support, and private enterprises can provide capital, technology and management experience to achieve complementary advantages and jointly promote the smooth progress of the project. （*