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China should deepen reform to benefit private enterprises: political advisor

(Xinhua)    17:33, March 06, 2019

BEIJING, March 6 (Xinhua) -- China should push forward its reform to facilitate the development of private enterprises, a political advisor said Wednesday.

The reform should give them tangible benefits in terms of steady development and fair competition, Liu Shijin, deputy director of the economic committee of the National Committee of the Chinese People's Political Consultative Conference, said at a press conference.

Compared with state-owned enterprises, private enterprises have seen more difficulties due to insufficient credit support, Liu said.

The reform of existing financial enterprises should be promoted, and more importantly, the country should relax market access for the development of a number of financial institutions and financial products that provide special services to smaller firms, Liu said.

The private sector plays an important role in the economic system, contributing more than 50 percent of tax revenue, 60 percent of GDP, 70 percent of technological innovation, 80 percent of urban employment and 90 percent of new jobs and new firms, according to Liu.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Xian Jiangnan, Liang Jun)

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