Caixin
Nov 02, 2018 04:53 AM
ECONOMY

President Xi Again Voices Support for Private Sector

A worker assembles an elevator in a factory in Shenyang, Liaoning province on June 14. Photo: VCG
A worker assembles an elevator in a factory in Shenyang, Liaoning province on June 14. Photo: VCG

Chinese President Xi Jinping Thursday reaffirmed unswerving support for the country’s broadly struggling private enterprises as the government steps up measures to bolster the cooling economy.

The government will ease business costs with tax cuts and tax exemptions for small businesses and tech startups, promote greater financing availability for the private sector and encourage local authorities to offer financial aid to private companies with sound business outlook, Xi said at a seminar with private executives. The government aims to create a fair playing field for all businesses, he said (link in Chinese), according to the Xinhua News Agency.

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