Xi’s Big Private-Sector Push Runs Into Wall of Skepticism
- Beijing pledges to improve conditions for private businesses
- Investors say more concrete steps needed to boost sentiment
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China’s latest pledges to rebuild a shattered private sector fell flat with investors, underscoring the damage two years of crackdowns and pandemic controls have had on confidence in the world’s second-largest economy.
The Communist Party and the government issued a rare joint statement late Wednesday, with 31 measures to improve conditions for businesses, including pledges to treat private companies the same as state-owned enterprises and to consult more with entrepreneurs before drafting policies.