The National Development and Reform Commission (NDRC) announced on Tuesday its plans to enhance support for private enterprises. This initiative aims to enable private firms to contribute more significantly to major national strategies, strengthen security capabilities in critical sectors, and engage in large-scale equipment upgrades and consumer goods trade-in programs.
By fostering a more supportive environment, the NDRC seeks to integrate private enterprises more deeply into the nation’s economic and strategic objectives. This move is expected to not only bolster the private sector's role in the economy but also ensure that these businesses are well-equipped to participate in key developments and innovations.
The increased support will provide private firms with the necessary resources and frameworks to participate in extensive equipment modernization and to take part in consumer goods trade-in initiatives. These efforts are part of a broader strategy to enhance economic resilience and security across vital industries.
Experts believe that this policy shift will create new opportunities for private businesses, encouraging investment and innovation while aligning their growth with national priorities. The NDRC’s commitment to supporting the private sector underscores its role in driving sustainable economic development and maintaining competitive advantages in key areas.
Reference(s):
China's top economic planner to increase support for private firms
cgtn.com
