Beijing has announced new measures to support private companies. Its recent track record invites skepticism.
Li Qiang, Premier of China and the chair of China's State Council, delivers opening remarks at the Annual Meeting of the New Champions in Tianjin, June 27, 2023. Credit: World Economic Forum via Flickr
There’s usually a serious message when the Central Committee of the Chinese Communist Party (CCP) and the State Council jointly publish a document, as they did just over two weeks ago. Dedicated to the development and expansion of China’s private economy, this particular document’s release came hard on the heels of data showing that the much hoped for economic recovery in China this year had stalled, or become 'tortuous' as the Politburo later said.
The members of the P
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