China announced 80 major public infrastructure projects on Wednesday to reverse the economy's slowdown while experimenting with wider access for private and overseas investors.

The decision was made at a State Council executive meeting with Premier Li Keqiang presiding, the second meeting in a month to focus on infrastructure investment.

The projects will cover railway and harbor construction, new infrastructure needed by information technology, major clean energy projects such as hydropower, wind power and photovoltaic power, as well as modernization projects in the oil, gas and chemical industries.

The projects and their total value have yet to be specified.

Ann Lee, an expert on China-US economic relations at New York University, said it was "fine" for the Chinese government to include more overseas investors in these infrastructure projects because China can benefit from such international cooperation by learning more technologies and creating more jobs.

However, China has to arrange such cooperation in a "careful way", said Lee, to make sure that new skills are actually learned and local people benefit from the projects, instead of simply letting foreign investment in and "get all the profits".

"If it is just to quickly get a lot of people employed and they do not learn any new skills or they do not get paid enough, then it is a complete waste of an opportunity," Lee said.

The State Council said private investment will also be encouraged to enter fields that are "monopolistic in nature" or "used to be dominated by government investment and State-owned enterprises".

In 2013, private-sector investment accounted for 63 percent of China's total capital investment, according to the government, which had previously unveiled steps to encourage private capital in the construction of railways and affordable housing.

The State Council also decided that oil and gas exploration, public utilities, water resource projects and airport construction will be the next opened to private-sector investment.

To that end, the central government will sell $24.2 billion in railway financing bonds this year.

A railway development fund that welcomes private investment will rise to about $33.3 billion to $50 billion each year, according to the National People's Congress Standing Committee.

"All the railway projects that have been approved by the State Council should start construction as soon as possible, and preliminary work should be done to ensure railway investment will grow steadily," the State Council said.

Signs of a slowdown in the first quarter had been evident in a series of economic indicators, prompting the government to unveil measures to promote growth, although it has ruled out a major stimulus.

The HSBC Purchasing Managers Index for April rose to 48.3 from March's 48.0, but it was the fourth consecutive month below the 50.0 line separating expansion from contraction.

The State Council also said guidance for foreign investment review and approval will be released as soon as possible.

Ding Jihua, deputy director of the research and consulting department at Beijing New Century Academy on Transnational Corporations, said foreign companies in China will also be affected by Wednesday's decision to open up some market access to private capital. "Foreign companies in China can take part in these monopolized industries in joint ventures or as a sole investor," Ding said.

He suggested the government use the Public-Private Partnership as a way to encourage investment of private capital in infrastructure.

Tong Youhao, an official from the China Center for Promotion of Small and Medium-sized Enterprises Development, wondered if the policies can be as effective as they are meant to be, because the entry of private capital into monopolized industries involves reshuffling interests and has been difficult to carry out.

His concerns were echoed by Wang Yuanzhi, former chief of the small and medium-sized enterprises department under the National Development and Reform Commission.

"The government has promised private investment into these industries for a long time, but it is too difficult to carry out in areas that can touch the interests of the monopolistic sectors," Wang said