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China Takes Steps to Boost the Confidence of Private Enterprises

Minsheng Weekly September 4, 2023

By NewsChina Updated Dec.1

To bolster confidence in private enterprises, China implemented a series of policies starting in July to promote the growth of about 50 million private businesses across the country. Under these new policies, domestic private enterprises will be granted equal access to major national projects and cutting-edge technologies like cloud computing, artificial intelligence and cellular and genetic medicines. The negative list, which blocks market entry, will undergo revisions to eliminate unnecessary regulatory barriers. The roles and responsibilities of government agencies will be further clarified to ensure private entrepreneurs receive the support they need, including settling overdue debts. By focusing on guaranteeing equal market access, bidding opportunities, and financing rights, these policies are expected to be fully implemented without hindrance.