China Drafts Private Sector Law Hoping to Boost Confidence
- Planned law aims to make policy implementation more stable
- Previous private-sector measures haven’t boosted confidence
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China started drafting a law to promote the development of the private sector economy, in the latest attempt by the Asian nation to recharge confidence.
The law will focus on the “core concerns” of private companies, including protecting their property rights, guaranteeing the interests of entrepreneurs, and managing missed payments for small- and medium-sized enterprises, China’s state broadcaster CCTV reported on Wednesday.