China to Allow Private Investment in Military Equipments

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According to Xinhua News Net, China is about to open national defence equipment area to private captial and lower  threshold of access to military equipment market.

According to report, new policies of General Armament Department of the People's Liberation Army includes: Lowering market access threshold, simplifying certificating procedures, improving pricing mechanism and taxing policies regarding to military equipment.

Military procurement websites are going to be constructed by related departments, and demand information for weapon systems and other equipments is going to be published regularly. Report says, this new policy tries to ensure fair market competition, and encourage private companies to participate in production, maintenance and development of military equipment.

Source: Xinhua News Net; 2015.5.30

Xinhua News Net

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