China Vows to Boost Private Economy, Protect Businesses
- Private firms to be treated equally as state-run firms
- China appeals to private sector amid sluggish economic growth
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China’s Communist Party and government issued a joint pledge to improve conditions for private businesses in a signal that Beijing wants to bolster corporate confidence as economic growth wanes.
China vowed to treat private companies the same as state-owned enterprises, according to a joint statement from the party’s central committee and the state council on Wednesday. Governments at various levels are also encouraged to invite entrepreneurs for consultation before drafting and evaluating policies.