The State Council promised private investors a bigger role in industries, from oil drilling to finance, and pledged to help private companies invest more abroad, according to a statement released on July 26.

The statement includes a five-page list of areas where the government promises easier accesses for private investment. The list covers things from infrastructure construction to financial services, retailing and logistics.

Private companies will be encouraged to partner with state oil and gas companies to "co-exploit" reserves and to play a role in major science and technology projects, the statement said.

They will be encouraged to invest abroad and regulators will treat every investment entity equally, according to the statement. Chinese foreign direct investment has surged in recent years, but much of that has been spending by state companies.