BEIJING, May 27 (Xinhua) — China’s State Grid Corporation on Tuesday announced it will open two business sectors to social capital amid the government’s call to actively develop a diversified ownership economy.

The opening of two sectors, distributed power grids and charging facilities for electric automobiles, will allow social capital to invest in, construct and operate projects in the areas, the first such move by the monopoly State Grid.

Company Spokeswoman Wang Yanfang said the move will give full play to the market in resource allocation and promote new energy development.

The company estimated the market value of the two sectors will reach 200 billion yuan (32.4 billion U.S. dollars) by 2020 and drive GDP growth by 780 billion yuan.

Developing a mixed ownership economy to give more opportunities to private and social capital has been high on the government reform agenda this year.

Non-state capital will be allowed to participate in a number of projects in areas such as banking, oil, electricity, railways, telecommunications, resources development and public utilities, according to the government work report earlier this year.