Curbing unregulated capital expansion in line with sound development: spokesman

Curbing the unregulated expansion of capital should not be seen as conflicting with facilitating the sound development of the non-public sector, Sun Yeli, spokesman for the 20th National Congress of the Communist Party of China, said at a news conference on Saturday.?

Capital is an important production factor of the socialist market economy. Over the past 40 years of reform and opening-up, capital, land, labor, technology, data and other production factors have jointly contributed to the sound development of the economy, he said.

While fully affirming the positive role of capital in the development of the socialist market economy, the Party has proposed to correctly understand and grasp the characteristics of capital and prevent its disorderly expansion, Sun said.

Capital can develop healthily under the institutional framework of laws and regulations, in turn benefiting the development of the private economy, he said.

China is a country that practices the rule of law and capital in its forms, whether State-owned and private or domestic and foreign, are all protected by law, Sun said, adding that China will always be a hot destination for investment.