Support for private sector in China grows

An employee works on the production line of a new energy tech company in Taizhou, Zhejiang province. [Photo/Xinhua]

BEIJING: China’s top economic regulator on Thursday announced nine measures, such as the use of policy tools to penalise local governments with untrustworthy behaviours toward private companies, in a bid to enhance the government’s commitment to honest performance and create a more favourable environment for the private sector.

Analysts said the new move signals the country’s latest push to bolster the private sector, and is part of a package of stimulus measures to revive China’s recovery amid challenges and pressures from lacklustre demand and a more complicated external environment.