Transport industry 'totally open' to PI

China's transportation industry is "totally open" to private investment with the State not setting any restrictions on them, the Ministry of Transport said on Monday.

Private investors are not only encouraged to invest in the construction of infrastructure facilities but also in services, for example, maintenance and the operation and management of the infrastructure, a spokesman for the ministry said.

The ministry vowed to improve the policy environment for private investment, such as streamlining the administrative approval procedure for private projects, improving the information sharing mechanism and building industry organizations to offer consultancy to private investors.

The announcement is a part of the State's efforts to open its gates to private capital in State-dominated sectors including transport, finance, insurance and affordable housing.

In 2010, the State Council rolled out a historic document to encourage private investment in several State-dominated sectors. The slower economy this year has spurred the government's eagerness for private investment. Several ministries have in recent months rolled out policies to encourage private investment.

zhengyangpeng@chinadaily.com.cn