一财社论：最低参股比例为民间投资打开更大空间

Core Viewpoint - The government is actively promoting measures to stimulate private investment and reduce the differences in investment scope and returns between state-owned and private capital [2][3]. Group 1: Private Investment Development - The State Council emphasized the need to address key issues concerning enterprises, focusing on expanding access, removing obstacles, and strengthening guarantees to stimulate private investment [2]. - From January to August, private fixed asset investment decreased by 2.3% year-on-year, primarily due to a significant decline in real estate investment [2]. - However, private investment in infrastructure grew by 7.5% year-on-year during the same period, outpacing the overall infrastructure investment growth by 5.5 percentage points [2]. Group 2: Minimum Shareholding Requirements - Setting minimum shareholding ratios for private investment in key projects can drive overall investment growth and break down industry entry barriers [3]. - Recent policies have opened major projects to private capital, with notable progress in nuclear power investments, where private capital participation has increased to a minimum of 10% [2][3]. Group 3: Quality Projects and Financial Support - The "Private Economy Promotion Law" supports private economic organizations in participating in national major strategies and projects, providing legal space for private investment [4]. - As of June 25, over 10 trillion yuan worth of projects are being promoted to private capital, indicating a broadening scope of projects available for private investment [4]. - The government aims to enhance the multi-tiered capital market system to support private enterprises in obtaining direct financing through stock and bond issuance [4]. Group 4: Investor Rights Protection - Protecting investor rights is crucial, as private capital must assess its capabilities when investing in large-scale projects with long investment cycles [6]. - The "Private Economy Promotion Law" mandates that government and social capital cooperation projects should clearly define rights, obligations, and risk-sharing mechanisms [7]. - Future measures should focus on expanding the investment scope for private capital, providing more financial support, and ensuring rights protection to further invigorate private investment [7].