China vows to bolster private businesses
Print Edition
CHINA has pledged to implement measures to improve laws and government services for businesses in response to slowing private investment growth, state media said late Saturday.
China is counting on the private sector to invest more in the economy as the government tries to shift away from state-run heavy industry to a more entrepreneurial and services-led growth.
The measures come after a month-long survey of hundreds of private firms, Xinhua news agency said, without detailing the measures.
The study found that smaller market demand, overcapacity, higher labor costs and bad policy implementation had contributed to slower investment growth, Xinhua said.
Private-sector fixed-asset investment, which includes land, equipment and buildings, took up over 60 percent of overall investment in January to April, government data showed.
But the amount grew just 5.2 percent from the same period a year earlier, its slowest rate since data collection began in 2012. The rate also compared with around 10 percent last year, and as much as 25 percent in 2013.
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