China’s top economic planner released detailed measures on Tuesday to boost confidence and development in the country’s private sector, shortly after the government outlined a general guideline to spur the economy. The announcement comprises 28 specific measures issued by the National Development and Reform Commission (NDRC), which are aimed at cutting taxes and reinforcing legal protections for private firms. The NDRC has also committed to abolishing regulations and normative documents that infringe upon the principle of equal protection for all types of enterprise ownership. Moreover, the commission encourages the rewarding of individuals who have made “outstanding contributions” to boost the private economy. [NDRC, in Chinese]
China unveils detailed steps to stimulate private sector
