On September 15, 2017, the General Office of the State Council of China published Guidelines on Further Stimulating the Vitality of Effective Private Investment and Promoting A Sustainable and Healthy Economic Development (Guo Ban Fa (2017) No. 29), to promote the investment by private parties in China. The Guidelines encourage industrial transformation and upgrade, technology upgrade, innovation, and public-private partnership projects in infrastructure and public utilities areas. To support the private economy development, the Guidelines call on the government to clear up administrative procedural obstacles for private investment and support private enterprises to strengthen technology upgrade with government funds via various means such as grants and equity infusions. The Guidelines also direct the government to help enterprises reduce operating costs by reducing administrative fees and setting up preferential taxation, land, and electricity policies. To help private enterprises tackle problems in obtaining financing, the Guidelines call on financial institutions to increase financing supports to private enterprise and encourage the development of government-sponsored financing guarantee institutions.