China strengthens support for private enterprises – Report

Umahi legacy


China says it would introduce more policies to support the high-quality development of private enterprises, the Economic Information Daily report says on Tuesday.

The All-China Federation of Industry and Commerce, the Ministry of Industry and Information Technology and other related authorities have recently stressed enhancing support for private enterprises.

It promises improving the business environment, guiding private enterprises to participate in related mixed-ownership reform, supporting innovative development of private enterprises and cultivating high-quality enterprises.

Many local governments are also taking measures to improve the overall strength and core competitiveness of private enterprises.

Central China’s Hunan Province would focus on formulating related policies and building related platforms to promote healthy and innovative development of private enterprises.

This is to create a strong business-friendly atmosphere and forging a team of high-quality entrepreneurs in the new era.

Shenyang, a prefecture-level city in northeast China’s Liaoning Province, has proposed in its 14th Five-Year Plan for the development of the private economy to back up private enterprises in industrial transformation.

It also promised to upgrade integration into scientific and technological innovation, sustainable development and export-oriented development and aims at realising the goals by 2025.

It said that value of its private economy would account for about 50 per cent of its GDP, the annual average growth rate of private economic market players would reach about 10 per cent.

It added that private scientific and technological enterprises would account for more than 90 per cent of the total number of such enterprises in the city as private enterprises in China are moving faster in high-quality development. (Xinhua/NAN)