The Chinese Premier¹ Li Keqiang urged governments at all levels to implement² a series of measures to encourage private investment in the country and unleash³ business potential in the private sector⁴, at a State Council executive meeting on June 22.

 

6月22日一次国务院常务会议上，李克强总理要求各级人民政府实施一系列措施鼓励私人投资，释放私营企业的商业潜能。

 

Experts believe the decision comes right on time and will have far-reaching consequences on the private sector and the country's economy.

 

The measures include five aspects. Firstly, fully⁵ recognize the importance of private investment and the development of the non-state-owned economy. Secondly⁶, build up strong confidence in private investment through deepening the reform and the implementation⁷ of policies. Thirdly, create a fair investment environment between privately-run enterprises and state-owned enterprises and better deal with the relationship between the government and the market. Fourthly, spare no effort to solve the difficulty of financing. Fifthly, raise government credit by strengthening the accountability system, including making sure any government defaults are accountable and examine any government policy implementation failures.

 

The chief investigator⁸ with the China Enterprise Research Institute Li Jin said these measures are quite specific to the problems privately-run enterprises face in investment and financing. He added that not only are key problems targeted but also the measures cover long term planning.

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