China’s top economic planner to increase support for private firms
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
The National Development and Reform Commission (NDRC) said Tuesday that it will help private enterprises to make contributions to major national strategies, enhance security capacities in key areas, and participate in large-scale equipment upgrades and consumer goods trade-in programs.
This move follows a high-profile symposium focusing on private enterprises held on Monday, which was attended by representatives of private entrepreneurs.
The NDRC said it would revise and publish a new negative list for market access as early as possible, and would continue efforts to ensure fair private sector access to the competitive infrastructure sector and major national scientific research facilities.
In addition, the NDRC will work with related government organs to intensify regulatory measures to enforce stricter penalties for dishonest business practices and address overdue payments owed to private enterprises.
The private sector, long the backbone of China’s economy, accounts for over 92 percent of the country’s businesses. It also plays a pivotal role in driving China’s innovation endeavors — contributing more than 92 percent of its high-tech enterprises.
Reference Link:- https://english.news.cn/20250218/fb7a898e5ce74bc1a874c116efc00961/c.html
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
