Xi Gets Serious on Boosting Private Sector as Economy Slumps
- Chinese leader has vowed to treat foreign investors better
- Positive signals come as China’s post-pandemic recovery flags
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Chinese President Xi Jinping finally appears to be extending an olive branch to private businesses battered in recent years by regulatory crackdowns and the world’s most restrictive Covid-19 policies.
Officials have made a series of high-profile actions designed to telegraph the Chinese government’s backing for private firms, as the nation’s post-pandemic recovery risks being caught in a confidence trap. The Chinese leader has vowed to treat foreign investors better and called for greater opening up in recent weeks.