Policies unveiled to inject new momentum

Private economy

The Communist Party of China Central Committee and the State Council jointly released a guideline on boosting the growth of the private economy, promising to improve its business environment, enhance policy support, and strengthen the legal guarantee for its development on July 19.

The guidance details 31 measures such as removing barriers in market access, fully implementing policies and mechanisms for fair competition, encouraging private companies to accelerate their digital transformation and invest more in research and development.

On July 24, the National Development and Reform Commission unveiled detailed measures to encourage private investment further as the country moves to revive the private economy.

The measures include encouraging private investment go into a selected number of industrial segments, improving financial assistance, and optimizing the management process of private investment projects.