Reforms Needed To Support Private Sector - Herald

Following Premier Li Qiang’s strong endorsement of the private sector at his first press conference on Monday, Beijing needs to enact new reforms to secure the healthy development of the private sector, according to the 21st Century Herald. Compared with state-owned enterprises (SOE), private firms still face restrictions in financing and industry access. The paper notes during this year's two sessions, many representatives called for reforms of laws and regulations for private enterprises to protect entrepreneurs, boost confidence and ensure healthy development of the economy. The government needs to improve its administrative efficiency, enhance protection of property rights, and harmonise treatment for private firms, the paper said.