- The measures were approved at a party meeting, where President Xi Jinping said it was important to create a ‘better development environment’
- The private sector has been a key driver of the country’s growth, but a leading economist warned that state-owned firms are becoming increasingly prominent
The Chinese authorities have approved new guidelines to promote the private sector as Beijing seeks to rebuild economic confidence and boost its post-Covid recovery.
They promised to break down institutional barriers that keep private firms from fair market competition and guide them to participate in major innovations, according to state news agency Xinhua.
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