Business
20:17, 20-Oct-2018
Expert: China committed to supporting the private sector
Updated
19:15, 23-Oct-2018
["china"]
Share
Copied
03:21
The mix of public and private sector is "a must" for China's socialist economy and it represents investment opportunities for both sides, Zhao Zhongxiu, vice president for Undergraduate Studies and International Relations at the University of International Business and Economics in Beijing, told CGTN in an interview on the country's policies on private sector.
There are some misunderstandings currently, Zhao said, referring to some concerns on public capital being invested in private companies.
Some private firms, especially some listed companies, are in a difficult time, and state capital is being utilized to rescue the enterprises which can survive with some help, according to Zhao.
He described it as a "diversified ownership strategy" that indicates cooperation between public and private capital, which is a crucial feature of China's socialist market.
The private sector is a vital part in China's economy and has made great contributions, he said.
China has offered unswerving support to the private sector since its reform and opening-up process began and the government will further improve the business environment for the private sector, Chinese President Xi Jinping said last month during a visit in northeastern China's Liaoning Province.
China's Vice Premier Liu He, also voiced support to the private economy in an interview on Friday.