Beijing once again pledged to embrace its private sector amid record shrinkage in the country’s private fixed asset investments, one of the main drivers of China’s economic recovery in 2021.
China’s annual growth in private fixed asset investment has shrunk to 0.9 percent in 2022, the lowest in 11 years, despite Beijing’s renewed embrace of its private sector and issuance of supporting policies.
On Feb. 15, the Chinese state-owned Qiushi magazine published an article titled “Several Major Issues in the Current Works of Chinese Economy.”
The article claims that Beijing treats its state-owned and private enterprises equally, promotes the development of the private sector, and that the Chinese government at all levels has introduced a series of policies to support private enterprises in 2022….