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China to encourage, support private sector

Xinhua | Updated: 2023-03-05 09:55
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Employees work on a production line of new energy vehicle batteries in Changzhou, Jiangsu province, on Feb 16. [Photo/Xinhua]

BEIJING, March 5 (Xinhua) -- China will unswervingly consolidate and develop the public sector and unswervingly encourage, support and guide the development of the non-public sector, according to a government work report submitted Sunday to the national legislature for deliberation.

China will deepen reform of state-owned capital and state-owned enterprises (SOEs), and enhance the core competitiveness of the SOEs, said the report.

China will also encourage and support the private sector and private businesses in growing and expanding and support micro, small, and medium-sized enterprises and self-employed individuals in business development, the report said.

China will create an environment in which enterprises under all forms of ownership can compete and grow on a level playing field, it added.

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