China’s Private Sector Has ‘Promise Fatigue’, EU Chamber Says
- Head of business group says structural reforms are needed
- Beijing has pledged to support nation’s private businesses
This article is for subscribers only.
China’s efforts to boost its beleaguered private sector are falling short of what’s needed to aid foreign business and support the struggling economy, according to the head of the European Union Chamber of Commerce in China.
President Xi Jinping’s government has stepped up pledges to help private firms in the past month, with a vow to treat them on par with state-owned enterprises, or to seek more input from entrepreneurs on policy proposals. On Wednesday, a plan was unveiled to solicit tip-offs from citizens on obstacles for businesspeople.