Beijing encourages social capital to invest in infrastructure

Social capital is encouraged to invest in 61 infrastructure projects in Beijing worth 150 billion yuan (24.5 billion US dollars), a municipal economic planning official announced on Tuesday.

The municipal government is expected to attract 130 billion yuan in social capital on these projects, which cover transportation, parking facilities, water and waste treatment, medical and elderly facilities and cultural innovation, said Yan Ying, deputy head of the municipal development and reform commission.

They include a subway and a highway to the new international airport south of the city, an international hospital in the Central Business District, and a large community for the elderly on the site of a deserted steel plant.

"The Beijing municipal government welcomes social capital to invest in public areas in multiple forms, including franchising," said Yan.

Beijing started to encourage social capital investment in the public sector last year to reduce the financial burden on the government. A total of 126 projects attracted 130 billion yuan in social capital in 2013, according to Yan.