China eyes improved development of its private sector

BEIJING, Nov. 13 (Xinhua) -- China has carried out major research on optimizing the private sector's development environment during the country's next five-year plan period (2026-2030), an official told the China Economic Roundtable hosted by Xinhua News Agency.

Wei Dong, head of the bureau for private economy development under the National Development and Reform Commission, said China will implement equal treatment of private enterprises from institutional and legal levels, actively expand space for quality development in the private sector and build service platforms.

China previously set up the bureau to strengthen policy coordination in relevant areas, and ensure that related measures are implemented as early as possible and achieve tangible results.

Wei Chu, vice dean of the School of Applied Economics, Renmin University of China, suggested relevant legislation to assist the private sector and abolishing the administrative regulations, rules and normative documents no longer conducive to the development of private businesses.

He also suggested continuing deepening reforms and coordinating inter-departmental policies to ensure their implementation.

China Economic Roundtable is an all-media talk platform launched by Xinhua, with the second episode featuring the Chinese private economy.