Sep 05, 2023 06:06 AM

ECONOMY

China Creates New Agency to Support Private Sector

By Sun Yanran and Han Wei

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The new private economy development bureau will be set up under the National Development and Reform Commission (NDRC)

The new private economy development bureau will be set up under the National Development and Reform Commission (NDRC)

China is creating a new government entity to assist private businesses in a fresh effort to bolster the economy and reinvigorate business confidence.

The new private economy development bureau will be set up under the National Development and Reform Commission (NDRC), the country’s top economic planning body. The agency will be dedicated to promoting coordination of policies and facilitating implementation of measures to support the private economy, the NDRC said Monday.

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