The Chinese mainland has designated the support and development of private enterprises as a top priority, signaling a commitment to bolster its private sector through robust policy measures and legislative advancements. Ning Zhang, a senior China economist at UBS Investment Bank, highlighted this strategic focus in an exclusive interview with CGTN.
According to Zhang, the Chinese government is determined to create a favorable environment for private businesses, recognizing their crucial role in driving economic growth and innovation. He anticipates the introduction of additional policies aimed at reducing regulatory burdens, enhancing access to financing, and fostering a more competitive market landscape.
\"This renewed emphasis on the private sector reflects the mainland's proactive approach to sustaining economic momentum,\" Zhang remarked. \"We can expect significant legislative progress that will further facilitate the operational capabilities and expansion initiatives of private enterprises.\"
The shift underscores the Chinese mainland's broader economic strategy to diversify its growth drivers and mitigate potential risks associated with over-reliance on state-owned enterprises. By empowering the private sector, the mainland aims to enhance its resilience and adaptability in the face of global economic uncertainties.
