给市场一颗“定心丸” 予民资一片“新蓝海”

Core Viewpoint - The article emphasizes the importance of private investment as a key driver for high-quality economic development in China, highlighting recent government measures aimed at promoting private investment through clear and actionable policies [1]. Group 1: Policy Framework - The "13 Measures for Promoting Private Investment" issued by the State Council aims to inject strong momentum into private investment by addressing market concerns with precise policy measures [1]. - The document focuses on "strengthening guarantees," which is a recurring theme throughout, establishing a comprehensive institutional framework that supports private investment from the stages of "daring to invest" to "able to invest" and "investing well" [1]. Group 2: Investment Participation - The measures allow for a minimum private capital holding of over 10% in traditional state-dominated sectors such as railways and nuclear power, marking a significant policy breakthrough that transforms abstract access permissions into clear property rights [2]. - The commitment to "improve the long-term mechanism for private enterprises' participation in major projects" signifies a shift from pilot openings to institutional openings, alleviating concerns about policy changes for private capital [2]. Group 3: Financial Tools - The measures propose increasing central budget investments to support eligible private investment projects and encourage the issuance of Real Estate Investment Trusts (REITs) for infrastructure projects, showcasing a diversified and precise financial support mechanism [3]. - The introduction of REITs provides a complete cycle for private capital to engage in large infrastructure projects, promoting a healthy investment cycle by revitalizing existing assets and releasing dormant funds [3]. Group 4: Financial Innovation - The measures address long-standing issues of financing difficulties by implementing a "duty of care exemption" and a "bad debt tolerance system," aiming to resolve the deep-seated contradictions in financial institutions' lending behaviors [4]. - A "green channel" for technology-based enterprises is established to facilitate their access to financing and mergers, creating a comprehensive financing system that supports both heavy and light asset projects [4]. Group 5: Service Optimization - The measures require banking institutions to set annual service goals for private enterprises and promote an "innovation points system" to guide financial resources towards technology-driven companies [6]. - Increasing the government procurement prepayment ratio to over 30% aims to alleviate cash flow pressures on private enterprises, reflecting a supportive policy environment at both macro and micro levels [6].