China targets energy, health industries

China targets energy, health industries

China's government is launching projects to attract private investment in energy and health to boost a slumping economy.

The Cabinet announcement adds to a flurry of efforts to stimulate growth that has fallen to a three-year low, raising the threat of job losses and social unrest. The International Monetary Fund said last week China probably has achieved a "soft landing" but warned "global headwinds are increasing" due to Europe's debt crisis and a weak U.S. recovery.

Beijing said previously that boosting private sector investment is a key part of its recovery plan but there is no sign struggling entrepreneurs are willing to spend. Some private businesspeople say monthly sales have fallen by up to 50 percent in recent months.


{biztweet}china energy{/biztweet}