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Shenzhen Strives to Boost Private Economy
Private economic development will get a big boost in Shenzhen, one of China's five special economic zones, in the years to come.
A new document published by the Party and government authorities of Shenzhen has lifted many restrictions on investment by private investors, allowing them to make investment in all businesses except those fields or commodities China's national laws and regulations clearly prohibit private undertakings, according to local sources.
Also relaxing are the standards for private businesses to form conglomerates, and for their public listing.
Moreover, private businesses will be given a range of preferential treatment if they make investments in scientific and technological fields or to launch businesses abroad, said the document.
Shenzhen, which faces Hong Kong across a local river and falls under the jurisdiction of Guangdong Province, is home to more than 40,000 private ventures and about 160,000 household-based businesses.
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