China’s National Development and Reform Commission (NDRC) has announced a series of targeted initiatives aimed at strengthening the private sector’s growth and resilience. The announcement was made during a conference held on Thursday and Friday, marking a significant step in boosting the nation’s economic dynamism.
The initiatives focus on upskilling the workforce by utilizing public training centers to align with industry and business requirements. By pooling resources such as venues, equipment, and classes, the NDRC aims to train one million private sector workers annually. This move is expected to enhance employee competencies and meet the evolving demands of China’s rapidly developing industries.
In addition to workforce development, the NDRC introduced a program to support new entrepreneurs. This program is designed to enhance their competitiveness and capacity for growth and adaptation in the market. An initial group of 40 private companies is set to participate in the first phase, signaling a proactive approach to nurturing innovation and entrepreneurship within the private sector.
Another key aspect of the plan is improving the quality of home services across the country. The initiative aims to elevate the skills of domestic workers, standardize services for elderly care and other home-based needs, and create better matches between domestic workers and households. This focus on the home services sector addresses the growing demand for reliable and professional domestic support, especially in urban areas.
These comprehensive measures reflect China’s commitment to fostering a robust private economy, which plays a critical role in the nation’s overall development. By investing in human capital and supporting entrepreneurship, China is positioning its private sector to contribute significantly to sustainable economic growth.
Reference(s):
cgtn.com
