China to remove barriers to privately run businesses, Premier Li says

Premier Li Keqiang said on Wednesday that China will further carry out and improve policies and measures to support privately run businesses and the non-public economy and resolutely remove unreasonable barriers that hamper their development.

Li made the statement in a speech at the opening ceremony of the Annual Meeting of New Champions in Tianjin, also known as Summer Davos.

The Chinese government has recently taken continuous measures to further decrease taxes and fees charged small and medium-sized enterprises (SMEs), especially mitigating the difficulties of getting financing for SMEs, Li said.

Most SMEs are private businesses and support the biggest number of jobs, he added.