In a bid to stimulate economic vitality, China has announced a series of measures aimed at boosting the private sector while continuing to reform state-owned enterprises (SOEs). Premier Li Qiang presented the comprehensive government work report at the third session of the 14th National People's Congress in Beijing on Wednesday.
The report outlines efforts to deepen SOE reform by refining their structure and enhancing performance assessments to ensure they meet strategic objectives. This initiative is part of China's broader strategy to create a more dynamic and fair market environment.
To foster the growth of private businesses, the government plans to implement supportive policies, protect the legal rights of entrepreneurs, and encourage the adoption of modern corporate practices. These steps are designed to empower private enterprises and enhance their contributions to the economy.
Addressing financial challenges, the report emphasizes stronger punitive actions against entities that delay payments to businesses. Additionally, China aims to establish long-term mechanisms to resolve such issues, ensuring a more reliable business landscape.
The government is committed to maintaining open lines of communication with enterprises to address their practical challenges effectively. Special initiatives will also be launched to regulate enterprise-related law enforcement, targeting arbitrary charges and ensuring service-oriented administration. These measures are expected to boost the confidence of businesses by providing satisfactory and fair services.
Reference(s):
China vows to consolidate public sector, stimulate private economies
cgtn.com
