China's private economy to thrive in better business environment.

ISLAMABAD -- China will further optimize its business environment to unleash the vitality of private firms and boost fair competition, according to an official document published Sunday.

Under the guideline jointly released by the Central Committee of the Communist Party of China and the State Council, more sectors will be opened up to private firms.

For instance, private firms will be encouraged to provide basic telecommunication services through equity participation, and engage in power generation and distribution as well as electricity selling in the form of controlling shareholders or through equity participation.

They may also enter the sectors of oil-gas exploration, development, refining and marketing as well as the construction of infrastructure facilities related to the storage and transmission pipelines for oil, natural gas and refined oil products.

Eligible private firms may engage in crude oil import and the export of refined oil products, said the guideline.

In addition, broader access are expected to be seen in the sectors of financial services, infrastructure and social undertakings.

To boost the development of private...