Tuesday, 18th June 2024

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China plans to boost private sector growth amid economic recovery.

China’s struggling economy has laid out a comprehensive support policy for private enterprises, which hold the key to revitalizing investment and domestic demand.

In the Opinions on Promoting the Development and Growth of the Private Economy, the Communist Party of China (CPC) and the State Council issued today, according to the state-run Xinhua news agency, “The institutional framework of fair competition and the policy implementation mechanism should be perfected to ensure that enterprises of different ownership systems (state-owned, private, and foreign-owned) are viewed the same and treated equally.”

In response, the Party has issued guidelines to protect property rights, such as requiring authorities to abide by powers, scope, amounts, and time limits when seizing and freezing an enterprise’s property, and to ensure that business activities are preserved to the greatest extent possible during investigations.

The Communist Party and State Council resolved to improve the credit assessment system for small and micro enterprises, and to help qualified private SMEs raise funds in the bond market.

They also plan to encourage the issuance of science and technology innovation corporate bonds by private companies and the listing and refinancing of blue-chip private companies, Xinhua reported.

“The private economy is the driving force behind China’s modernization and an important basis for high-quality development,” 카지노사이트킴 the Communist Party and State Council said, adding, “We should accelerate the creation of a marketized, rule-of-law, internationalized, first-class business environment and improve the development environment for the private economy.”

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