China’s top economic planner reassures private entrepreneurs that it will “spare no effort” to help businesses “overcome difficulties” in the Chinese government’s latest move to revive the economy Ta.
National Development and Reform Commission (NDRC) Chairman Zheng Shanjie hosted a meeting with representatives of several private companies on Friday to discuss their business status, problems they are facing, and their views and suggestions for the economy, state-run Xinhua News Agency reported. He reported that he learned about. .
“Private entrepreneurs are our own people,” Zheng was quoted as saying. “We will spare no effort to help your company overcome any challenges.”
Defined by the Communist Party as complementary to the national economy, the private sector accounts for more than 50 percent of China’s tax revenue, 60 percent of its gross domestic product, 70 percent of its technological innovation, and 80 percent of its urban jobs. . According to official data, 90 percent of market entities are covered.
Several private industries, including the internet, private tutoring and real estate companies, have been cracked down in recent years as the party sought to curb the “blind expansion” of capital.
