China will use a recently passed law supporting its private economy as a springboard for growth, officials said, with the non-state sector becoming all the more crucial as the country looks inward for economic momentum amid an unprecedented trade war with the United States.
“There is an urgent need to improve relevant institutional measures in response to prominent problems encountered [by the private enterprises] in practice,” said Wang Zhenjiang, China’s vice-minister of justice, at a press conference for the new law on Thursday.
