Shot in the arm for China's private sector

Citing issues faced by the private sector like financing difficulties and market entry barriers, Hong called for more efforts to increase the financial support for private firms, including setting up special financial institutions or funds to provide diversified financing channels. More efforts should also be made to further ease restrictions on market access, continuously optimize the market environment for fair competition and ensure a stable policy environment.

A recent meeting held by the Political Bureau of the Communist Party of China Central Committee said the country must formulate and introduce policies and measures to promote private investment. It was also stressed at the meeting that it is imperative to provide private enterprises with an enabling environment.

The NDRC also said at a recent news conference that it will take targeted measures to improve the business environment, continue to shorten the negative list for market access and remove market entry barriers for private firms.

Looking into the second half of the year, the NDRC said in an interview with Xinhua News Agency that it will speed up the implementation of policies for easing enterprises' burdens, improve policies for taxes and fees reductions and promote the gradual recovery in private investment.